With the cardinal objectives of the current administration encapsulated under the Renewed Hope Agenda kick-started in 2023 at the inception of the current leadership under the President, Asiwaju Ahmed Bola Tinubu , the appointment of Dr Rabiu Onaolapo Olowo as Executive Secretary, Chief Executive Officer ES/ CEO, Financial Reporting Council FRC has made an impactful contribution to the economic, socio-political and revolving programs of the current dispensation.
With the zeal of management of private and public institutions, his appointment in October, 2023 , no doubt was another opportunity to drive the national economy, after a distinctive performance between 2019-2023 as Finance Commissioner for Lagos state amid emergency situations of COVID, Endsars among many other natural and artificial occurrences.
Olowo who became Lagos Commissioner of Finance at 34 performed outstandingly by placing Lagos state economic indices at AA+ with chunk of investment from the capital market highest among sub-nationals.
With versed experience and having stabilized the economy of Lagos state inspite of emergency period of global pandemic of COVID, debilitating end SARS crises that took toll in Lagos targeting public assets among many others unforseen circumstances, Olowo sustained the infrastructural rejuvenation and development that led to the success story of Babajide Sanwolu’s first term in Lagos state, which witnessed uneven and all round development in the state.
For four consecutive years, Olowo has impacted positively through prudent management of resources, revenue drive of Lagos state that increased monthly revenue from the downward 5 Billion to 20 Billion monthly, a feat that had been sustained and improved under the current dispensation.
After the expiration of his tenure as commissioner of finance in 2023 and appointment as Executive Secretary, Chief Executive officer, Financial Reporting Council FRC, a parastatal under the Federal Ministry of Trade and Investment in October , 2023 , the first set of Heads of Ministries, Departments and Agencies, Olowo deployed similar spirit maintained in Lagos state to the agency through innovations, Initiatives, reforms , and transformation of the hitherto moribund organization.
Aside creating an enabling environment through staff welfare and well-being, he ensured a conducive environment both at the headquarters in Lagos and Abuja office, through relocation of the Abuja office from an unknown and unaccessed environment to a well located environment, where concentration of government agencies in high brow Maitama area of the nations city .
Through propagation and promotion of the current administration Renewed Hope Agenda, he introduced “DOSE”, (Digitization, Operational Excellence, Stakeholders Engagement and Excellence as part of the tenets , operation of the activities of the agency among many other policies and programs.
The all encompassing policy framework has assisted in no small measure, the improvement and enhancement of the mandate and statutory activities of the Financial Reporting Council FRC in the last two years.
Olowo has also engaged in policy statements that had galvanized the policies and programs of the present administration of President Bola Ahmed Tinubu’s Renewed Hope Agenda by declaring that Nigeria is operating a hyperinflationary economic situations , moderate cost of living against the belief of many Nigerians, through the fair assessment of the 2024 budget.
The adherence to the operational mandate of the FRC and introduction of new reforms and innovation in line with the tenets of the organization has placed the activities of the new FRC in line with the local and global approach and engagement.
Close to two years of his appointment, training and retraining of staff and development as .w.ell management training locally and internationally has been on the highest pedestal, the positive development had placed the Financial Reporting Council FRC as the cynosure of public activities.
As you mark four decades and 40 years of your existence and contributions both at national and sub- national level today , June 14, 2025 , we pray for more years and longevity in the services to your father land .
Congratulations Honorable Executive Secretary, Chief Executive Officer, ES/ CEO, Financial Reporting Council FRC, Dr Rabiu Onaolapo Olowo, wishing you many more years.
Written BY ABUBAKAR YUSUF on yus.abubakar3@gmail.com.
