N E W S: ONAOLAPO SOLEYE DIES AT 90
Dr.
Soleye died in the early hours of Wednesday at the age of 90, four days after
he celebrated his 90th birthday on Saturday, November 11, 2023.
He was born on 11 November 1933.
Onaolapo Soleye was a Nigerian scholar and former Minister
of Finance during the military regime of General Muhammadu Buhari. He served
for twenty months as the minister of finance.
He was also a former commissioner for Finance and Industry
in Ogun State.
Until his death, Soleye was Chairman of the board of the
Obasanjo Presidential Library.
He was a lecturer at the University of Ibadan. He was also
the commissioner of industry in the western region before he was appointed as
the minister of finance.
Soleye preferred administrative controls on foreign
exchange; he rejected proposals to drastically devalue the naira. He also
decided to print new notes in April 1984, to prevent the repatriation of naira
through smuggling.
Dr Soleye attended Baptist Boys' High School, Abeokuta, one
of the earliest secondary schools established in Nigeria. He trained as a
sociologist and studied at the London School of Economics and Political Science
and University of Manchester.
Soleye's major policy actions during his tenure as Minister
of Finance included:
- · Policies preventing drastic devaluation of the naira
- ·
Refinancing
of trade debt arrears insured by international organizations
- ·
Supported
the rationalization and restriction of imports
- ·
Did not
stop the trend of budget deficit financing
- ·
Creating
of new naira notes to halt currency smuggling
A statement by the family reads,
“With heavy hearts, but with gratitude to God Almighty for a long,
impactful, and positively eventful life, the family announce the passing of Pa
Dr. Onaolapo Soleye, the father of our late brother, Maj. Gen. O. O. Soleye
(rtd). He turned ninety years old only last Saturday.
Papa served the country and humanity in various capacities, rising to
the position of an Associate Professor in the University of Ibadan,
Commissioner for Works in Ogun State, and Minister of Finance of the Federal
Republic of Nigeria, amongst others.
He was a true lover of God and humanity, and this translated into his
unwavering commitment to church activities as well as ready support and
assistance to all who came across him, in any way that he could.
The loss of Dr Soleye is surely not that of the Soleye family alone.
It’s our father that has just passed, and we must all prepare to be part of his
rites of passage.
Burial details will be announced by the family in due course. Until
then, please pray for the repose of Papa’s soul and God’s comfort upon his
family and other loved ones.
May the soul of Dr Onaolapo Soleye rest in peace. Amen,”
The former Finance Minister is survived by his wife, Mrs.
WMS Soleye, children, grandchildren and a great grandchild.
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