Nigeria must build economy that can weather all storms – Makinde

Governor Seyi Makinde of Oyo State has declared that for Nigeria to beat the poverty trap and become a prosperous Country, her economy must be built to weather all storms.

Governor Makinde added that the Country must also raise entrepreneurs and improve the standard of education, stating that in spite of Nigeria’s natural resources, its people might remain poor until its leadership put the right things in place.

Responding to a sermon delivered by Williams Aladekungbe, the Bishop from Ibadan North Anglican Diocese at the funeral service of his (Makinde’s) elder brother, Olufunmilayo Sunday Makinde, held at the Bishop Akinyele Memorial Anglican Church, Ibadan, the governor however said mineral resources are not enough to liberate a nation from poverty.

“The experience of a country like Venezuela, which despite its huge oil reserves cannot hold a candle to Finland, which has based its growth on developing its human capital, is enough to teach Nigerian leaders to, apart from managing the country’s natural resources well, invest more in educating its younger generation and building more entrepreneurs”, he said.

He maintained that the reality made his administration in Oyo State to continue to invest heavily in education, beginning with matching the UNESCO recommendation for education funding, as evident in his Government earmarking above 20% of the State’s budget to education since he assumed office in 2019.

“While preaching, the Bishop raised some issues. He said Nigeria does not have any reason to be poor because we do have natural resources. But natural resources alone do not lead to prosperity and that is just the reality.

“The country with the highest reserve of oil in this entire world is Venezuela and it is poor. So, to have prosperity, we must raise entrepreneurs and raise the standard of education.

“I was in Finland with my Team and I tried to make enquiries on why the country got so developed. I asked if they had oil, they said no. I asked if they had gold and silver and they said no. I asked of what they have and they said it is education.

“So, in Oyo State, since we came in six years ago, we resolved to meet and exceed the UNESCO recommendation on education by allocating over 20 per cent of our budget to the sector, it is because we know that some people will need to be entrepreneurs to turn the natural resources into something that can take us out of poverty.

“Yes, God has blessed us and we should be thankful to Him for that. The first Industrial Revolution was coal. Nigeria was rich then because we had coal but nobody is using it again because the world has moved to oil. Very soon, they will move away from oil to something else. So, we must be prepared. We must go beyond depending on natural resources to having an economy that can weather all storms”, he added.

The governor, who eulogised his late brother, fondly called Sundo, as a good man, a good brother, a good husband and a good father, recounted how he sacrificed his university education to join the Navy so that his siblings could have a better life.