The life and times of Akinkugbe
Chief Oludolapo Ibukun Akinkugbe was born into the illustrious Akinkugbe family in Ondo on December 5, 1928. He attended Ondo Boys’ High School, graduating in 1945 with a Grade One in the Cambridge School Certificate, and proceeded to the School of Pharmacy, Yaba, Lagos. He qualified as a pharmacist in 1949 and began his career at Lagos General Hospital.
By 1950, he was National Secretary of the Nigerian Union of Pharmacists (NUP), successfully presenting a case for improved welfare packages for pharmacists nationwide to the Abayomi Committee of Enquiry. In 1951, he joined J.L. Morrison Son & Jones Ltd as a medical representative for Evans Medical Supplies, Lederle Laboratories and Burroughs Wellcome.
In 1953, at just 25, he became National Secretary of the Pharmaceutical Society of Nigeria (PSN), later serving as President (1972–74). Under his leadership, PSN joined the Commonwealth Pharmaceutical Association and laid the groundwork for Nigeria’s Food and Drugs Decree of 1974, precursor to NAFDAC.
After leaving public service, he founded Palm Chemists in Lagos. In 1954, he moved the business to Ibadan, where it was an immediate success, catering to the growing number of middle-class professionals in the city. At its height, Palm Chemists had six outlets, becoming one of the most modern retail pharmacy chains of its time. His wife Janet ran a pioneering baby department that became Alma Stores. In 1971 he founded Vitalink Pharmaceutical Industries, producing widely used medicines before entering into a Joint Venture with Procter & Gamble in 1992. He went on to serve as Chairman of P&G Nigeria until he stepped down in 2010.
A prolific entrepreneur, Olu Akinkugbe also built family-owned enterprises including Palm Chemists, Alma Stores, Thomas Furniture and Linkup Investments. Alongside Vitalink, these ventures provided employment for hundreds and contributed significantly to Nigeria’s socio-economic development. He was identified early by the US government as a future leader and took part in several economic missions abroad.
His corporate leadership spanned banking (Barclays Bank, Bank of Industry, Stanbic IBTC), consumer goods (FrieslandCampina WAMCO, Fan Milk, Nigerian Tobacco), pharmaceuticals (SmithKline Beecham/GSK), industry (West African Portland Cement, Leyland Nigeria) and more recently in technology (SecureID). He co-founded and led major business associations including NACCIMA, Ibadan Chamber of Commerce, and MAN.
His contributions were recognised with numerous honours: MON (1965), CON (2001), CFR (2014), the Royal Dutch honour of Officer of the Orange Nassau, and traditional chieftaincy titles in Ondo and Ibadan. He received honorary doctorates from the University of Ibadan (1988) and Pan-Atlantic University (2010).
A quiet philanthropist, he believed in the central role of education in building a better future for Nigeria and Nigerians. He helped establish All Saints Church School and All Saints College in Ibadan, was Pro-Chancellor and Council Chairman of Pan-Atlantic University, served on the Lagos Business School Advisory Council, and supported the Centre for Comparative Law in Africa, University of Cape Town. His legacy also includes The Olu Akinkugbe WAMCO Nutrition Centre and The Olu Akinkugbe Pharmacy Education Trust (OAPET), which funds the Olu Akinkugbe Faculty of Pharmacy at the University of Medical Sciences (UNIMED), Ondo.
A devoted family man, Christian, and community leader, he served the church in Ondo and Ibadan and was active in Rotary, the Metropolitan Club, and other social groups. He was happily married to Janet Oladunni Akinkugbe for nearly 70 years. They were blessed with four children, eleven grandchildren, and two great-grandchildren.
Chief Olu Akinkugbe passed away peacefully at his home in Lagos on Monday, 22nd September 2025, just eleven days after the passing of his beloved wife.
May his soul rest in perfect peace. Amen.
Olayinka Akinkugbe
For the family
