The Ọbafẹmi Awolọwọ Prize for Leadership is instituted by the Ọbafẹmi Awolọwọ Foundation on the basis of one of the major recommendations of its Special Dialogue on “Transformational Leadership and Good Governance: Lessons from the Awolọwọ Example”, held in July 2011. The national Prize is instituted in the name of Chief Ọbafẹmi Awolọwọ to reward leadership and good governance.
It has been generally recognized that one of the greatest challenges facing Nigeria, and, indeed, African countries today, is the dearth of good leadership. The Ọbafẹmi Awolọwọ Prize for Leadership is therefore established to encourage, recognize, reward and celebrate excellence in leadership.
The Prize is awarded to an individual who has demonstrated excellence in leadership and good governance. The recipient must be a person who has made relevant vital contributions within the country or abroad in the private or public spheres.
The Awolọwọ Prize for Leadership consists of a medal, a certificate and a plaque. The emphasis is on the intrinsic value of the award, which, itself, confers honour and recognition on the recipient as a strong incentive for the pursuit of excellence in leadership and good governance.