EREJUWA IDENTIFIES FINANCIAL FREEDOM AS THE KEY TO ECONOMIC PROSPERITY – As OSOPADEC Organises Workshop to Equip Top and Senior Management Staff With Knowledge For Smooth Retirement Life

October 1, 2022
October 13, 2022

Chairman, Ondo State Oil Producing Areas Development Commission (OSOPADEC), Sam Erejuwa has charged the Staff of the agency to be innovative and pursue financial freedom as no one can live a prosperous and sustainable life during and after active service by depending solely on active income.

Erejuwa stated this on Thursday 6th October, while declaring open a 2-day workshop organised by the Commission for its Top and Senior Management Staff at Bliss World Resorts and Hotels, Ijapo Estate, Akure.

The Workshop, themed ‘Lifestyle Management in Retirement’ was organised in conjunction with Smiles Consult and Psychological Services Limited.

It is aimed at educating the participants on how to prepare for the next phase of life after public service.

In his welcome address, the Secretary of the Commission, Dr. Victor Koledoye, on behalf of the staff appreciated the Chairman for the initiative, having repeatedly assured that none of his staff will be poor after retirement.

According to Dr. Koledoye, people especially in this part of the world are scared of retirement due to lack of preparedness and fear of the unknown. Ironically, retirement is a time one should look forward to, a time to relax and enjoy the fruits of one’s labour after active service.

Dr. Koledoye was optimistic the program would be life-changing, enjoining the participants to make best use of it. Resources persons at the event took turns to educate the participants on the benefits of preparing for retirement.

Professor Bolanle Ogungbamila, Director of Training, Smiles Consult and Psychological Services Limited in his lecture titled “Psychology of Lifestyle Management in Retirement” reiterated the multiple benefits of retirement which include the opportunity to give up risky, stressful, and unhealthy jobs, engage in other productive activities, improve ones health and enjoy family life.

He stressed that retirement is not a death sentence but a time to live a healthy life, be more useful to oneself, family and the society.

Similarly, in his paper titled “Health and Wellbeing in Retirement: Medical Aspects; Dr. Mann Ali, a retired Permanent Secretary of OSOPADEC educated the participants on how to live and remain healthy after retirement.

Dr. Ali Identified some old age related body changes one may experience in retirement. They include: changes in the cardiovascular system, the skin, sight and hearing, the bones, the teeth and gum, weakness of the bladder and bowel, the muscles and sex life.

The medical expert however gave the participants some useful tips to manage the health issues. These range from having enough rest, engaging in exercises and eating nutritional diets.

The Chairman of OSOPADEC, Sam Erejuwa was more interactive and practical while lecturing his staff on “Budgeting for Financial Freedom”. He lamented that one of the causes of poverty in retirement is the act of depending only on ones salary which he tagged ‘active income’. Unfortunately, family expenditures most times outweighs the family income. This according to him will eventually result into debts and financial hardships.

Erejuwa reiterated that the surest way to enjoy life during and after active service is to enjoy financial freedom. This he said can only be achieved when one combines passive income with active income. He identified loss of jobs, illhealth and death of a spouse as factors capable of crippling active income.

The Chairman therefore charged the staff to think beyond the box and engage in activities that can bring them passive income. These include but not limited to selling of goods, rendering of services, investing in properties and shares amongst other things.