Oyo State Governor Seyi Makinde has said Ibadan has the potential to compete with Lagos for major investments, urging greater emphasis on entrepreneurship, skills development, knowledge and productive enterprise to drive economic prosperity.

Makinde stated this on Wednesday at the 10th anniversary celebration and commissioning of the global headquarters of CapitalSage Holdings in Ibadan.

The governor said natural resources alone could not guarantee prosperity, stressing that countries and cities needed to harness human capital, entrepreneurship and intensive production to achieve sustainable economic growth.

He emphasised his administration’s commitment to creating an environment conducive to business growth, promising continued support for investors through improved security, investment facilitation and policies designed to make Oyo State attractive to businesses.

According to him, the growth of CapitalSage Holdings demonstrates the potential of Ibadan to attract and sustain major business operations.

Makinde said the state government would continue to work with private-sector players to stimulate investment, expand economic opportunities and create jobs for residents.

The founder and Group Managing Director of CapitalSage Holdings, John Alamu, lauded the Makinde administration for what he described as an enabling business environment in Oyo State.

CapitalSage Holdings, which marked its 10th anniversary at the event, operates as a conglomerate with about 20 companies.

The ceremony attracted traditional rulers, investors, government officials and other dignitaries, including the Olubadan of Ibadanland, the Ooni of Ife, the Soun of Ogbomoso and the Deji of Akure.

The commissioning of the headquarters formed part of activities marking the company’s anniversary and highlighted its expansion in Ibadan.