Makinde Positions Oyo as Investment Destination, Woos More Entrepreneurs

…As Governor reaffirms commitment to security, investment facilitation and infrastructure at CapitalSage Holdings’ 10th anniversary

Oyo State Governor, ‘Seyi Makinde, has reaffirmed his administration’s commitment to supporting entrepreneurship and private sector growth, stressing that natural resources alone cannot guarantee economic prosperity without entrepreneurship, skills, knowledge, and intensive production.

Governor Makinde stated this on Wednesday at the 10th anniversary celebration and commissioning of the CapitalSage Holdings Global Headquarters in Ibadan, where he congratulated the company on building a thriving business conglomerate headquartered in the state capital.

The Governor noted that while Nigeria is richly endowed with natural resources, sustainable economic prosperity depends on entrepreneurs’ willingness to take risks, innovate, and invest.

He assured investors of his administration’s continued support through enhanced security, investment facilitation, and other measures aimed at promoting business expansion and economic growth.

Describing the commissioning as a celebration of entrepreneurship, Governor Makinde urged stakeholders to recognise the critical role of private businesses in creating economic opportunities, generating employment, and strengthening local industries.

He noted that CapitalSage Holdings has grown into a conglomerate comprising about 20 companies, adding that the establishment of its global headquarters in Ibadan would further reinforce the city’s position as a leading business hub and investment destination.

He also expressed confidence that Oyo State can compete favourably with Lagos in attracting investments and hosting major business operations.

Governor Makinde reiterated his administration’s commitment to supporting CapitalSage Holdings and other investors, maintaining that creating an enabling environment for businesses to thrive and expand remains central to the state’s economic development agenda.

Speaking at the event, the Governor said: “Nigeria is a wealthy country in terms of natural resources, but natural resources alone cannot lead to economic prosperity. Prosperity must be driven by entrepreneurship, skills, knowledge, and intensive production.

“Today, we are celebrating entrepreneurship because someone must be willing to take risks on behalf of society. I congratulate the CapitalSage team for taking those risks and building a successful enterprise.

“Our responsibility as a government is to create an environment where businesses can thrive. We have worked to ensure that economic activities continue beyond traditional working hours by providing the infrastructure, stability, and security businesses need to grow.

“This occasion is particularly significant because CapitalSage is demonstrating that Ibadan can host the headquarters of major business organisations. For many years, people viewed Oyo State as playing second fiddle to Lagos in terms of business and investment. Today, we are proving that Oyo State can stand shoulder to shoulder with any state in the federation in attracting investment and supporting enterprise.

“I want to assure CapitalSage Holdings and other investors that this administration will continue to provide every necessary support. Whether it is facilitation, security, or any legitimate government intervention required for growth, we will continue to partner with businesses that create jobs and contribute to our economy.

“Recently, we supported major industrial projects, including the brown sugar factory and the sorbitol factory because of their contributions to employment creation and economic development. CapitalSage will enjoy the same level of support.

“On behalf of the government and people of Oyo State, I congratulate the CapitalSage team on this milestone. This is only the beginning, and I look forward to witnessing even greater achievements in the years ahead.”

In his welcome address, the Founder and Group Managing Director of CapitalSage Holdings, Mr. John Alamu, commended Governor Makinde for providing the enabling environment that allowed the Group to grow from a small enterprise in Oyo State into a diversified business conglomerate with its headquarters in Ibadan.

He assured stakeholders of the Group’s commitment to building stronger businesses, developing its workforce, deepening strategic partnerships, and delivering greater value to its customers.

The event was attended by the Olubadan of Ibadanland and former Governor of Oyo State, His Imperial Majesty Oba (Sen.) Dr. Rashidi Adewolu Ladoja, Arusa I; the Ooni of Ife, His Imperial Majesty Oba Adeyeye Enitan Ogunwusi, Ojaja II; the Soun of Ogbomosoland, His Imperial Majesty Oba Ghandi Afolabi Olaoye, Orumogege III; and the Deji of Akure, His Imperial Majesty Oba (Dr.) Aladetoyinbo Ogunlade Aladelusi, Odundun II, alongside financial partners, local and international investors, and captains of industry.

In the Governor’s entourage were the Secretary to the State Government, Professor Musibau Babatunde; the Deputy Chief of Staff, Hon. Kazeem Adeniyi; the Senior Executive Assistant to the Governor on General Duties, Chief Bayo Lawal; the Commissioner for Investment, Trade, Cooperatives and Industry, Prof. Salihu Adelabu; the Attorney-General and Commissioner for Justice, Barr. Biodun Aikomo; the Commissioner for Lands and Urban Development, Mr. Williams Akin-Funmilayo; the Commissioner for Public Works and Transport, Arch.

Abdulmojeed Mogbojubola; the Commissioner for Education, Science and Technology, Hon. Segun Olayiwola; the Commissioner for Health, Dr. (Mrs.) Oluwaserimi Ajetunmobi; the Commissioner for Special Duties, Dr. Lateef Oyeleke; the Director-General of the Oyo State Investment and Public-Private Partnership Agency, Hon. Tilewa Folami; the Chairman of Local Government Chairmen in Oyo State, Hon. Sikiru Sanda; the Babaloja-General of Oyo State, Alhaji Yekini Abass; and other top government functionaries.