Alake identifies cause of Nigeria’s economic downturn
…Oba Gbadebo laments as Lisabi Festival begins February 29
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NIGERIA: THE Alake and Paramount ruler of Egbaland, Oba Adedotun Aremu Gbadebo, has identified the reason why the nation’s economy is heading towards the rock.
Oba Gbadebo said that the abandonment of the Small Medium Enterprises (SME) sector within the economy has been the bane of the nation’s present economic downturn.
The monarch, who spoke at his Ake, Abeokuta Palace on Monday, said that in order to redress the economic decline to the right path, government and the private sector must focus on the SME sector.
Also for clarification, the first class traditional ruler said that contrary to insinuation in some quarters, the famous Egba warrior, Lisabi Agbongbo Akala, was not the founder of Egbaland.
Oba Gbadebo, who addressed reporters on the 30th edition of the Lisabi Festival scheduled between Monday,
February 29 and March 6, 2015, said that virile and viable enterprises would jump-start the Nigerian economy and have salutary effects.
The monarch stated this at a press conference held in his Ake Palace to herald the activities for the 30th edition of the annual Lisabi Festival scheduled for Monday 29th February to March 6. The theme of the Festival is “Creating Wealth Through Small and Medium Enterprises.”
He added that the failure of the SMEs sector which had been the largest employer of labour had worsened the rate of unemployment in the country.
Oba Gbadebo also enjoined all Nigerians to strive to be self-employed as a way to drastically reduce the rate of unemployment in the country.
“The failure of our economy is because of the failure of the small and medium scale enterprises because that area collapsed; that’s why we have so much unemployment,” the monarch said. “The small and medium scale enterprises employ far more people than government could ever imagine that it could employ,” the royal father said.
He said: “So, this is where we want everyone of us to imagine ourselves as employers of labour. The way out of Nigeria’s economic chaos, the way out of the unemployment we have in this country, we want to emphasize that entrepreneurship is the answer. We have to be our own employers of labour.”
Alake explained that Egbaland, with Abeokuta as the headquarters, was founded some years after the death of Lisabi, who he said never lived in the kingdom.
Oba Adedotun, Okukenu IV, said that the crucial role played by Lisabi, when he was alive, to liberate his fellow Egbas from Oyo Kingdom led to his heroic celebration.
According to the traditional ruler, as at the period Lisabi was popular over his feat, his followers were scattered in villages which eventually become Egbaland after his demise, adding that Lisabi died in 1730 while Egbaland was founded in 1830.
Earlier, Globacom Business Director, Ayo Ogunranti had commended the royal father on his relentless efforts in repositioning Egbaland for cultural and economic advancement, while supporting Oba Gbadebo’s stand that SMEs was the engine room for moving the economy forward.
The Chairman of the Lisabi Festival Committee, Chief Rasheed Raji, noted that the yearly event had ensured the unity of the various peoples of Egbaland, just as he said the program would begin with the booming of guns at the Olumo rock and football competition on Monday 29th.
Other events lined up for the program, according to Raji, included public mobilization by women round the town, Woro dance, traditional games competition and school debate.
Raji, who was accompanied by the Chairman of the Publicity and Media Committee of the festival, Mrs. Yemi Olanrewaju, also disclosed that other events are musical fiesta by Egba youths, seminar on creating wealth through small and medium enterprises, and display by cultural groups.
Similarly, Raji stated that procession to Igbo Lisabi, youth carnival, presentation of bursary award by Egba National Association USA/Canada and Thanksgiving Service at the Cathedral of St. Peter Church, Ake Abeokuta would also be part of the event which would be rounded off on Sunday, March 6.
