Makinde urges Nigeria to prioritise production over natural resources
By Adejayan Gbenga
Oyo State Governor, Seyi Makinde, has called on Nigeria to prioritise production as a pathway to economic prosperity, saying the country must look beyond its natural resources to overcome poverty and achieve sustainable development.
Makinde made the call on Wednesday during the commissioning of the headquarters of CapitalSage Holdings in Ibadan, as part of activities marking the company’s 10th anniversary.
The event was attended by prominent traditional rulers, including the Olubadan of Ibadanland, Oba Rashidi Adewolu Ladoja; the Soun of Ogbomoso, Oba Ghandi Afolabi Laoye III; and the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi Ojaja II, alongside other dignitaries.
Speaking at the event, the governor commended CapitalSage Holdings for its willingness to take entrepreneurial risks and invest in sectors capable of driving economic growth. He noted that businesses willing to invest in productive ventures were essential to expanding economic opportunities and strengthening the country’s economy.
According to Makinde, Nigeria must shift its focus towards intensive production rather than relying primarily on its natural resources to move from poverty to prosperity. He stressed the need to build an economy that creates value through productive activities and encourages enterprise.
The governor also pledged his administration’s continued support for CapitalSage Holdings, assuring the company’s management that the state government would maintain an enabling environment for businesses operating in Oyo State.
To illustrate his administration’s support for private-sector investment, Makinde cited Oyo Sugar and Derivatives Ltd, Psaltry International and Nutlinks Ltd as examples of businesses that had benefited from the state’s encouragement. He said collaboration between government and businesses was important to sustaining investment and expanding production.
CapitalSage Holdings has investments across fintech, agribusiness, fast-moving consumer goods and healthcare. The company’s operations in these sectors align with the broader need to promote productive enterprise, create economic opportunities and support Nigeria’s economic development.
