ops$tkyte%ORA10GR2> grant create sequence to ops$tkyte;

Grant succeeded.

ops$tkyte%ORA10GR2>
ops$tkyte%ORA10GR2> create or replace procedure p
  2  as
  3  begin
  4          execute immediate 'create sequence s';
  5  end;
  6  /

Procedure created.

ops$tkyte%ORA10GR2> exec p

PL/SQL procedure successfully completed.

ops$tkyte%ORA10GR2> select s.nextval from dual;

   NEXTVAL
----------
         1