Afe Babalola Urges Nigeria to Boost Production for Economic Prosperity

Aare Afe Babalola, a prominent legal figure and Elder Statesman, delivered a powerful message emphasizing Nigeria's need to prioritize production over consumption to overcome perpetual poverty.

Jul 10, 2024 - 20:07 Updated: Jul 11, 2024 - 11:56

Afe Babalola Urges Nigeria to Boost Production for Economic Prosperity

Renowned legal luminary and Elder Statesman, Aare Afe Babalola, has issued a stark warning that Nigeria will remain mired in poverty unless it shifts its focus from consuming to producing. Speaking at the maiden edition of the Afe Babalola University (ABUAD) Industrial Park Trade Fair in Ado-Ekiti, Babalola emphasized the urgent need for Nigerians to embrace discipline, productivity, and patriotism to foster national development.

Babalola, who also received the Icon Award for Excellence from the Akure Branch of the Nigeria Bar Association (NBA), highlighted the detrimental effects of indiscipline, poor work ethic, and lack of vision on Nigeria's socio-economic landscape. He underscored the importance of initiatives like the ABUAD Industrial Park, designed to integrate research with industry and provide employment opportunities for youth.

Reflecting on Nigeria's potential, Babalola stressed that the country, despite its abundant resources and favorable climate, has historically prioritized consumption over production, perpetuating economic challenges. He shared personal anecdotes of his dedication to hard work and self-sufficiency, urging Nigerians to emulate these values to foster national growth.

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In response, Banjo Ayenakin, Chairman of NBA Akure Branch, commended Babalola for his exemplary leadership and generosity, noting that such qualities are essential for transforming Nigeria's narrative. Meanwhile, Prof. Oluwasegun Aluko of the Ekiti chapter of the Nigeria Society of Engineers (NSE) praised Babalola for establishing the industrial park, projected to house 124 cottage industries using locally sourced materials.

ABUAD's Vice Chancellor, Prof. Smaranda Olarinde, highlighted the university's recent accolades, including being ranked the best Nigerian university and fourth in Africa by the 2024 Times Higher Education Impact Rankings. She emphasized ABUAD's significant contributions to various fields, positioning it as a global leader in education and sustainable development.