Makinde Makes Bold Statement, Says Oyo is Ready to Rival Lagos Business Dominance

According to report by Nigerian Tribune on Wednesday, October 28, 2026, Oyo State Governor, Seyi Makinde, has reaffirmed his administration’s commitment to supporting entrepreneurs and private sector investments, declaring that the state has the potential to compete with Lagos in attracting major businesses and promoting economic growth.

Makinde made the declaration on Wednesday, October 28, 2026, during the 10th anniversary celebration and commissioning of the global headquarters of CapitalSage Holdings in Ibadan.

The governor congratulated the company on its transformation into a diversified conglomerate comprising about 20 businesses, describing its decision to establish its headquarters in Ibadan as evidence of the city’s growing capacity to accommodate major corporate organisations.

He stressed that Nigeria’s abundant natural resources could not independently guarantee economic prosperity without entrepreneurship, innovation, technical skills, knowledge and increased production.

According to him, entrepreneurs contribute significantly to economic development by taking business risks, creating employment opportunities and investing in industries that strengthen local economies.

Makinde assured investors that his administration would continue to provide an enabling environment for businesses through improved security, infrastructure development and investment facilitation.

He added that the government had worked to ensure that commercial activities could continue beyond conventional working hours by creating the stability and infrastructure required for businesses to flourish.

The governor noted that Oyo State had historically been regarded as secondary to Lagos in business and investment, but said the establishment of CapitalSage’s headquarters in Ibadan demonstrated that the state could compete favourably with others across the federation.

He pledged continued government support for CapitalSage Holdings and other investors whose activities contribute to job creation and economic development.

Makinde cited the state government’s backing of major industrial projects, including a brown sugar factory and a sorbitol factory, explaining that CapitalSage would receive similar assistance to expand its operations.

The event attracted prominent traditional rulers, including the Olubadan of Ibadanland, Oba Rashidi Adewolu Ladoja; the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi; the Soun of Ogbomosoland, Oba Ghandi Afolabi Olaoye; and the Deji of Akure, Oba Aladetoyinbo Ogunlade Aladelusi.

Financial partners, local and international investors, industry leaders and senior Oyo State government officials also attended the ceremony.

Dewritter feedback-opera-news-app@opera.com