Distribute palliatives through entrepreneurs, SEAP boss tells FG

The Chairman of SEAP Holdings Company Limited, Olatunde Oladokun, has urged the Federal Government to channel economic palliatives through entrepreneurs, insisting that the relief packages distributed so far have ended up in the wrong hands.

Oladokun made this call on Tuesday during his 60th birthday held at the International Conference Centre, University of Ibadan, Oyo State.

He argued that distributing palliatives through business owners with strong grassroots connections would ensure that the support reaches the intended beneficiaries, rather than being diverted through corrupt channels.

“Palliatives are going to the wrong hands. Let the government distribute them through entrepreneurs who are closer to the downtrodden,” he said.

Oladokun, who employs over 2,500 staff, lamented that entrepreneurs are often left out of government intervention programmes, despite their role in job creation and economic development.

“How many entrepreneurs are really benefiting from these palliatives? We’re not talking about those with just one or two staff, but businesses employing 1,500 to 2,000 workers. Many of us have had to take loans from the open market just to stay afloat,” he added.

The SEAP boss also urged Nigerian billionaires to contribute to economic growth by establishing factories and creating jobs, rather than hoarding wealth.

“Many of our billionaires are hiding because the sources of their wealth cannot be explained. That is why they stash money away and invest in luxury houses instead of creating employment opportunities,” he said.

He advised wealthy Nigerians to set up industries in rural areas to curb youth migration abroad and reduce crime rates.

“If every billionaire in Nigeria can establish a garri or palm oil factory in rural areas, people will have jobs. When people are engaged, criminality will reduce, and we won’t have to worry about mass emigration,” he said.

Oladokun also criticised electricity distribution companies over sharp practices, warning that their actions were hurting businesses and slowing economic growth.

On the proposed N70,000 minimum wage, he questioned how private sector businesses would afford the increase without government incentives.

He noted, “How does the Federal Government expect the private sector to pay a N70,000 minimum wage? Many businesses are losing staff to government agencies because the private sector cannot compete with public sector salaries.

“Instead of burdening private businesses, the government should offer them tax reliefs and other incentives to help them grow and employ more people.”