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Olufemi Pedro (born 29 January 1955 in Lagos) was the Deputy Governor of Lagos State, Nigeria from 2003 until 2007. Prior to his election alongside Bola Tinubu, he was the Chief Executive Officer of First Atlantic Bank, now First Inland Bank.
He is married to Justice Jumoke Pedro, a High Court Judge in Lagos; they have 4 children.
Femi Pedro is widely regarded as the bedrock of the economic revolution which Lagos (and Tinubu in particular) enjoys today. In his years as the Deputy Governor, his wealth of experience in the banking sector came to fruition as he single-handedly raised the Internally Generated Revenue (IGR) from 300 Million Naira per month to a staggering 7 Billion Naira per month in the space of eight months. He was popularly referred to as 'Mr. Pedronomics', primarily due to his affinity towards micro and macro-economic policies. Pedro led the Government Economic Team, and championed the fight against the Federal Government regarding the withheld Local Government Funds in 2003. During the course of his term in office, he was awarded the Yoruba aristocratic title of Otunba by the people of his native Lagos.
On 13 December 2006, Pedro dumped the Action Congress to declare under the Labour Party, citing gross manipulation by Tinubu to favour a relative of his to become the Governor in 2007. He became the first ever Nigerian to contest for a gubernatorial election under the Labour Party platform. On 30 January 2007, Femi Pedro named a University lecturer, Oluranti Adebule, as his running mate for the April 19 elections. Adebule, who teaches Islamic studies at the Lagos State University (LASU), is from the Badagry Division of the state. Solidarity and goodwill messages also poured in for Pedro from the various stakeholders in the party, including the Nigeria Labour Congress (NLC), Trade Union Congress (TUC), National Association of Nigerian Students (NANS), teachers, pensioners, Hausa and Igbo communities, women's groups, students and youth bodies. He endeared himself to Lagosians with his comprehensive manifesto and various policies, many of which are currently being implemented by the sitting Governor, Babatunde Raji Fashola.
In May 2007, Pedro resigned his position as Deputy Governor after citing electoral malpractices in the Gubernatorial elections in which he participated and lost. Today, he continues to champion the fight against wasteful spending in Government, and has preached on the need for transparency and accountability by elected officials in Lagos State. He is a vocal critic of the lekki toll arrangement and the ban of okadas, among other policies.
On September 24th, 2010, Femi Pedro formally declared his intention to run for the 2011 governorship election in Lagos state on the platform of Peoples Democratic Party.
He made his declaration at the PDP secretariat in Ikeja amidst fanfare and jubilation by his supporters and party members, explaining that his administration would not simply celebrate 100 days in office, but would be committed to improving the living conditions of at least 100 Lagosians a day.
Pedro, who hails from Epetedo, said he had been to every nook and cranny of the state and has since realised that “through clever and constant application of propaganda our people have been made to see hell as paradise. Today, Lagos has become a sad story tale of two stories. I see people driving on pothole-infested roads and sleeping in flooded homes. I see poorly paid teachers, doctors going on indefinite strike and market women forced to pay excessive stall rates.“
He stated that the Action Congress of Nigeria (ACN) led government was not doing enough to reduce the suffering of the people and has kept celebrating days in office without sustainable achievements“ and they make people abroad believe that we are living in a paradise in Lagos State.”
He continued: “As such there is need for somebody with integrity that has the love of the people at heart who can deliver the people of Lagos State from poverty, bad roads and bad governance to be the governor come 2011. “I was part and parcel of the administration during the Bola Tinubu era and I know where the problem of the state lies, If I am chosen to run in the 2011 polls, I would help Lagosians to right the wrongs.
“We don’t want a government that simply plants trees all over Lagos anymore. We want a government that sows the seeds that will grow successful and vibrant Lagosians by creating better enabling environment to realise ther dreams,” he said.
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