Oyemade: Unlocking capital key to grow wealth, national development

In a recent interview on CNBC Africa, Pastor Poju Oyemade, the Convener of the Platform and Founder of the Covenant Nation, emphasized the importance of unlocking the capital that lies within Nigeria as a crucial step towards growing wealth and national development. Oyemade highlighted the need for deliberate and intentional leadership in nation-building, pointing out that many successful nations have focused on developing assets within their borders to propel growth. He cited examples of Asian countries like South Korea and Japan, where internal resources have played a significant role in driving economic development. One key theme that Oyemade touched upon was the necessity of clear and authentic leadership in charting the next phase of growth for countries like Nigeria. He emphasized the importance of intentional development of leaders, drawing parallels with countries like England where top-tier leadership often emerges from prestigious educational institutions like Oxford and Cambridge. The conversation also delved into the challenges of harnessing the potential of Nigeria's youthful population. Oyemade underscored the need for a shift in leadership style towards greater transparency and communication to engage the youth in addressing the country's pressing issues. He acknowledged the prevalent sense of discouragement among the youth due to the perceived lack of opportunities and highlighted the importance of building trust to inspire active participation. Regarding the role of faith-based institutions in expanding social nets, Oyemade expressed his belief that churches can play a significant role in supporting their communities. He emphasized the importance of sustainable aid efforts that focus on creating opportunities and generating capital for individuals in need. Oyemade shared a poignant anecdote of a woman who transformed a small capital investment into a successful business, illustrating the impact of empowering individuals through financial support. In addressing the current economic challenges facing Nigeria, Oyemade suggested that a well-implemented cash transfer program could be effective if done properly. He stressed the importance of empowering individuals with the means to become self-sufficient, echoing the sentiment that handouts are not a long-term solution to poverty. As the conversation concluded, Pastor Poju Oyemade left viewers with a thought-provoking glimpse into the potential for unlocking capital, fostering authentic leadership, and empowering the youth to drive sustainable growth and development in Nigeria.