Chief Oludolapo Ibukun Akinkugbe, one of the most brilliant, most versatile and most articulate Ondo men who ever lived joined his ancestors today, Monday September 22, 2025, exactly 11 days after the passing of his wife, Mrs Janet Akinkugbe. They were both born the same year. Chief would have celebrated his 97th birthday in December, 2025.
Fondly remembered as the
"Chairman of Chairmen," he combined a pioneering pharmacy career with a remarkable presence in Nigeria's boardrooms. He leaves behind a legacy that spans healthcare, business, education and public service.
Chief Oludolapo Akinkugbe who was born on December 25, 1928 emanated from four prominent Ondo families - the Akinkugbe family, the Apata Talabi family, the Ijimore family and the Lisa Ponbiyunda descendants. His maternal grandfather, Chief Joshua Apata Talabi was the first Baale (Baba Ijo) of St Stephen's Church, Òkè Aluko, Ondo from 1924 until his death in 1935. His paternal grandmother, High Chief Lisalobun Ijifesola Akinkugbe (nee Ijimore) held the title of Lisalobun of Ondo Kingdom. Chief Olu Akinkugbe's father, Chief David Akinbobola Akinkugbe, the late Odofin of Ondo Kingdom was the first Ondo man Druggist. Baba Odofin was also the Treasurer of St Stephen's Church, Òkè Aluko Ondo for 25 years while his mother, Chief Mrs Grace Ajibabi Akinkugbe held the position of Iya Ijo of the same Church in her lifetime.
Young Ludola as fondly called by family and friends was admitted to the elementary wing of Ondo Boys High School (OBHS) in 1935 under the tutorship of Chief William Oyewole Akingbola from where he moved to the secondary section of the school. He was one of the few brilliant students who came out in Grade one in their final exams in 1946. Among other students in the Grade one category in his class then were Archdeacon Jonathan Abiodun Iluyomade who was the Principal of OBHS from 1958 till 1969, Chief Ruben Fasoranti, the founding Principal of Iju Ita-Ogbolu Grammar School who is currently Afenifere leader.
Chief Olu Akinkugbe taught in Ondo Boys High School (OBHS) for some time before he left Ondo for Lagos.
After graduating from Ondo Boys High School in 1945 with a Grade One Cambridge Certificate,he taught briefly before entering the School of Pharmacy in Yaba in 1946.
Admission was highly competitive — only 12 slots were available - and Akinkugbe was the only one among four friends who applied together to gain entry.
Though he later received an offer to study medicine at Trinity College Dublin, financial barriers kept him in Nigeria. He would later reflect: "I had wanted to study medicine.
When the opportunity came, I could not afford it. But looking back now, I believe I was destined to be a pharmacist."
He studied Pharmacy at the School of Pharmacy, Yaba, Lagos and was in the same class with the great novelist, Cyprian Ekwensi.
Chief Olu Akinkugbe started his employment career with the Lagos General Hospital. He spent some time with Morrison and Jones West Africa Limited before he left paid employment to establish his own company, Palm Chemists Limited in 1952. He was also the owner and Chairman of Vitalink Pharmaceutical Industry Limited.
Entrepreneur and builder
In 1952, Akinkugbe founded Palm Chemists in Lagos before relocating the business to Ibadan. Positioned near the University College, Ibadan, The pharmacy quickly became a hub of innovation, customer service and managerial excellence, setting new standards in the industry.
He also co-founded Spectrum Books, now one of Nigeria's most enduring publishing houses. "We wanted to build a Nigerian publishing company that would stand the test of time," he once recalled.
Breaking into the boardroom
Akinkugbe was part of the first wave of Nigerians to break the colonial monopoly of corporate boardrooms. Alongside figures like Felix Bankole Cardoso, father of the current Central Bank governor, he became one of the earliest Nigerian directors of Barclays Bank Nigeria before its nationalisation.
He also co-founded Spectrum Books, now one of Nigeria's most enduring publishing houses. "We wanted to build a Nigerian publishing company that would stand the test of time," he once recalled.
Breaking into the boardroom
Akinkugbe was part of the first wave of Nigerians to break the colonial monopoly of corporate boardrooms. Alongside figures like Felix Bankole Cardoso, father of the current Central Bank governor, he became one of the earliest Nigerian directors of Barclays Bank Nigeria before its nationalisation.
Over the next five decades, his corporate footprint expanded across banking, manufacturing, pharmaceuticals, and publishing. Among his many appointments:
Chairman, West African Portland Cement Company
Chairman, Procter & Gamble Nigeria Ple
Chairman, Beecham (now GlaxoSmithKline Nigeria)
Chairman, West African Batteries Ltd
Director, Union Bank of Nigeria, R.T.
Briscoe, Nigerian Tobacco Company, Fan Milk, IBTC Chartered Bank
Founding director, Palm Chemists and Spectrum Books
It was this broad reach that earned him the enduring title, "Chairman of Chairmen."
Public service and national contribution
Beyond business, he served as president of the Ibadan Chamber of Commerce, vice president of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), and member of both the Ondo State and National Economic Advisory Councils.
He contributed to education through council positions at the University of Ife (now Obafemi Awolowo University) and Lagos Business School. He also served on the Morgan Wages Review Commission, helping shape national labour policy.
As a Unionist, Chief Olu Akinkugbe became the secretary of the Pharmaceutical Union at the age of 22. And as a Boardroom guru, he served as Chairman and Director on the board of several companies. As a dedicated Christian, Tower of Hope, the tower of St Stephen's Church Cathedral, Ondo was single handedly donated to the Church by Chief Olu Akinkugbe. He also donated a Church, David and Grace Church of Ascension, Ile-Oluji road, Ugboja, Ondo City to the Anglican Community. He was a recipient of several awards among which are commander of the Niger (CON) and Commander of Federal Republic (CFR).
As a community developer, Chief Olu Akinkugbe was a pioneer member of the Ondo Development Committee (ODC). He held the honorary Chieftancy titles of Ruwaji of Ondo Kingdom and Parakoyi of Ibadanland. He got married to his amiable wife, Mrs Janet Akinkugbe in 1955 and the marital union is blessed with 4 children.
For all his public achievements, Chief Akinkugbe was first and foremost a family man. He shared 70 years of marriage with his beloved wife, Aunty Janet, who sadly predeceased him on 11 September 2025, also at the age of 97. Together, they built a family whose influence spans children, grandchildren and great-grandchildren.
Speaking of their life together, he once said:
"Janet has been my partner in everything.
Whatever I achieved, I achieved because she stood by me."
The Akinkugbe story is not just one of personal success but of national impact — a reminder of a generation that built Nigeria's business and professional foundations with diligence and honour.
May his soul rest in peace