The presidential candidate of the Allied Peoples’ Movement (APM) and Executive Governor of Oyo State, Engr. Oluseyi Makinde, has said that Nigeria can achieve economic prosperity by focusing on three fundamental pillars: entrepreneurship, skills and knowledge, and intensive production.
Makinde stated this during a media chat on Fresh FM 105.9, Ibadan, anchored by veteran journalist, Mayor Isaac Brown, where he explained that achieving economic prosperity requires deliberate attention to the factors that drive productivity, create wealth and improve the living standards of citizens.
The APM presidential candidate explained that entrepreneurship, skills and knowledge, and intensive production were essential to building a strong economy, stressing that the country must develop its human resources, encourage business creation and increase its productive capacity.
According to him, entrepreneurship is a critical driver of economic prosperity because it enables individuals to identify opportunities, establish businesses, create employment and contribute to national wealth.
He explained that encouraging entrepreneurship would help Nigerians transform their ideas and talents into viable businesses capable of meeting the needs of society while generating income and creating jobs.
Makinde noted that when individuals establish and expand businesses, they stimulate economic activities across different sectors, including agriculture, manufacturing, transportation, technology and services.
He added that supporting entrepreneurs through access to finance, infrastructure, an enabling business environment and other essential resources would strengthen small and medium-scale enterprises, encourage innovation and reduce unemployment.
The governor explained that entrepreneurship should not be limited to establishing businesses but should also involve creating the conditions that allow enterprises to grow, remain sustainable and contribute meaningfully to the economy.
On skills and knowledge, Makinde said the development of human capital was another important requirement for achieving economic prosperity.
He explained that people must acquire the relevant skills, technical expertise and knowledge needed to improve productivity, operate businesses efficiently and contribute to economic development.
According to him, education and practical skills development are essential to preparing citizens for opportunities in different sectors of the economy, including agriculture, engineering, manufacturing, technology and other productive industries.
He stressed that a country could not fully realise its economic potential if its citizens lacked the knowledge and competencies required to convert available opportunities and resources into productive ventures.
Makinde further explained that equipping young people with vocational, technical and professional skills would improve their employability, encourage self-reliance and enable them to establish businesses of their own.
He noted that knowledge also promotes innovation, allowing individuals and businesses to adopt improved methods, develop new products and increase efficiency.
The APM candidate maintained that investing in skills and knowledge would strengthen the workforce and provide the human capital required to support entrepreneurship and industrial growth.
Speaking on intensive production, Makinde explained that Nigeria must place greater emphasis on producing goods and services, making effective use of its available resources and increasing the capacity of its productive sectors.
He explained that intensive production involves improving the ability to produce more goods and services efficiently by deploying available resources, manpower, technology and infrastructure effectively.
According to him, economic prosperity becomes more achievable when a country develops the capacity to transform its raw materials into finished products, expand industrial activities and increase the value generated from its resources.
He noted that Nigeria could derive greater economic benefits from sectors such as agriculture and manufacturing by expanding local production, processing raw materials and developing industries capable of meeting domestic demand and accessing international markets.
Makinde further explained that increased production could create employment opportunities, strengthen local businesses, reduce dependence on imported goods where domestic alternatives are viable and improve the country’s capacity to generate wealth.
He stressed that production must be supported by the necessary infrastructure, technology, technical expertise and favourable conditions that enable businesses to operate efficiently and sustainably.
The governor’s explanation placed emphasis on the relationship between the three indices, as entrepreneurship provides the platform for establishing businesses, skills and knowledge equip people with the capacity to innovate and operate efficiently, while intensive production enables the economy to generate greater output and economic value.
He explained that bringing the three elements together would provide a pathway for expanding economic activities, creating employment and improving the standard of living of Nigerians.
