THE governor of Oyo State, Seyi Makinde, has emphasized the need to strengthen Nigeria’s economy to withstand challenges and foster national prosperity.
Speaking at the funeral service of his late elder brother, Engr. Olufunmilayo Sunday Makinde, held at the Bishop Akinyele Memorial Anglican Church, Ibadan, Makinde stressed that Nigeria must move beyond reliance on natural resources by investing in entrepreneurship, education, and infrastructure development.
He pointed out that despite Nigeria’s vast natural resources, its people may continue to face economic hardship unless the country’s leadership implements the right policies and reforms.
Citing Venezuela as an example, the governor explained that having the world’s largest oil reserves has not translated into economic success for the country.
In contrast, Finland, which lacks such natural wealth, has built a strong economy by prioritizing human capital development.
Makinde highlighted that his administration in Oyo State has consistently allocated over 20% of the state’s budget to education, in line with UNESCO’s recommendation. He believes this investment is crucial in nurturing entrepreneurs who can transform natural resources into economic opportunities.
“We must be proactive and prepare for a future where dependence on oil will no longer be viable. The world has moved from coal to oil, and soon, it will transition to other sources. Nigeria must build an economy that can weather all storms,” he stated.
During the service, Makinde paid tribute to his late brother, describing him as a selfless and honorable man. He recounted how his brother sacrificed his university education to join the Navy, ensuring that his siblings had better opportunities in life.
Although his passing was unexpected, Makinde said the family had taken solace in his well-lived life and the belief in resurrection.
To honor his brother’s legacy, he announced a ₦25 million donation to the church, emphasizing the importance of living a life that leaves a lasting impact.
Delivering the sermon, Bishop Williams Aladekungbe of the Ibadan North Anglican Diocese stressed the need for responsible management of Nigeria’s natural resources. He warned against excessive borrowing and corruption, stating that these practices hinder national development.
“Nigeria has no reason to be poor if its resources are properly managed. Wealth should serve the people, not a select few,” the bishop remarked.
The funeral service was attended by prominent figures, including:
Governor Bala Mohammed (Bauchi State)– Chairman, PDP Governors’ Forum
Governor Ademola Adeleke (Osun State)
Governor Caleb Mutfwang (Plateau State)
Delta State Deputy Governor, Monday Onyeme (representing Governor Sheriff Oborevwori)
Former Osun State Governor, Prince Olagunsoye Oyinlola
Minister of Power, Chief Adebayo Adelabu
Senators, lawmakers, traditional rulers, and business leaders.