Afe Babalola Warns: Nigeria’s Future Hangs on Increased Production

A renowned Nigerian lawyer and educationist Afe Babalola delivered a stark warning about the nation’s economic future. Speaking at a forum focused on Nigeria’s development, Babalola emphasized that the country would remain in a cycle of poverty unless it significantly boosts its production capabilities.

Babalola outlined the critical need for Nigeria to shift from its heavy reliance on imports and oil exports to a more diversified and self-sustaining economy. “Our overdependence on oil has blinded us to the vast potential in other sectors,” he stated, highlighting agriculture, manufacturing, and technology as key areas needing immediate attention and investment.

The legal luminary pointed out that Nigeria’s economic policies should focus on creating an environment conducive to production. He suggested that the government should provide more support for local industries, improve infrastructure, and ensure access to affordable power and resources. “Without these fundamental changes, we will continue to import what we can produce locally, thereby stifling our economic growth,” Babalola asserted.

Babalola’s remarks come at a time when Nigeria faces significant economic challenges, including high unemployment rates and inflation. His call for increased production aligns with broader calls from economists and industry experts who have long advocated for economic diversification as a means to sustainable growth.

The forum also saw discussions on the role of education in economic development, with Babalola stressing the need for a robust educational system that produces graduates equipped with practical skills relevant to the current job market. “Education is the bedrock of any developed nation,” he remarked, urging reforms in the educational sector to foster innovation and entrepreneurship.

Babalola’s message was clear: Nigeria’s path to prosperity lies in its ability to produce and sustain its own needs. His impassioned plea serves as a reminder of the urgent need for policy shifts and practical steps towards economic self-reliance.