Gov. Babajide Sanwo-Olu of Lagos State says increased attention on the nation’s export capacity and potential will help to advance its economy and make it more prosperous.

Sanwo-Olu delivered the Yaba College of Technology (Yabatech) 36th Convocation Lecture with the theme:  ‘Developing Exportable Alternatives for Nigeria’s Economic Recovery’.

The event held  on Tuesday in Lagos.

He said  that the nation’s foreign exchange situation had had a negative impact on the Naira stability, while complicating some other problems, including inflation.

According to him, Nigeria is blessed with human and material resources and had much potential to be great.

“We need to rise and convert all our potential into reality.

“A country that is the world’s biggest producer of cassava and yam should be earning hundreds of millions of dollars annually from exporting them.

“If there is one lesson we have learnt over many decades, it is that there is no value or pride in exporting raw materials to the world.

“Countries that prosper from natural resources are those that process and add value to them before exporting,” the governor said.

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Sanwo-Olu said that Nigeria’s  exports had dropped drastically over the  past decades.

He noted that the country was once known for export of agricultural produce such as groundnut, cotton and cocoa.

“Oil and gas products have dropped over the last several years, we have not managed to protect the goose that has laid the golden eggs. Nigeria biggest asset is her human resource.

“We have since become known for our near-absolute dependency on food import,” he added.

Sanwo-Olu said there was need  to create more opportunities across the country for the youth to be positively engaged.

According to him, illiteracy, poverty, ignorance and disease should not be allowed to thrive  in the country.

He added that young people should be given the opportunity  to achieve their full potential.

He said that Lagos State Government had demonstrated  commitment to help to accelerate Nigeria’s economic development by creating enabling conditions for Nigeria to become a global export powerhouse.

“We played a key role in the development of the Lekki Deep Sea Port, Nigeria’s first deep sea port and West Africa’s most modern port complex, including holding 20 per cent stake in the transformational project.

“We are going to complement this project with a brand new international airport in the heart of what is now one of the fastest-growing industrial zones in the world, the Lekki Free Trade Zone.

“Also, we are building what will be the largest logistics park for agriculture in Sub-Saharan Africa, all a testament to enabling a non-oil export economy for Nigeria,” he said.

He charged the college to carry out more research.

“As a college of technology full of academics and professionals in various fields of technological endeavour, you have the responsibility of inventing and producing the technology that will drive Nigeria’s industrial revolution.

“invent technologies that will turn our limited-value cocoa beans into limitless-value chocolate, our lithium reserves into high-tech batteries, our vast solar and wind energy potential into abundant electricity to power homes, factories and ports.

“Yabatech should be at the forefront of  homegrown technology revolution that will make it possible for Nigeria to transform its natural resources into high value processed goods to be consumed locally and exported,” he added.

Sanwo-Olu advised the graduands to aspire to be changemakers.

In his remarks, Vice President Kashim Shettima, who was the Chairman of the occasion, said that much was still expected from Yabatech.

Shettima was represented by Dr Tope Fashau, the Economic Adviser to President Bola Tinubu.

He described the institution as a pioneer in the field of technology and technical skills, saying that Nigeria required technology and technical skills to be greater.

“Where the challenge lies now is how to add value to our products, how to produce primary and secondary goods that our people need for decent existence and export.

“We need your help Yabatech. We desire to export to get required export proceeds.

“It will start with the products of science and technology, we are already adapting at selling crude oil, cocoa, sesame seeds, sorghum, soybean, mahogany and water lilies,” he said.

Earlier, Dr Ibraheem Abdul, Rector of  Yabatech, said that  the convocation lecture  provided a platform to discuss solutions to some of Nigeria’s pressing challenges and to celebrate academic accomplishment of its students.

Abdul said that the institution had a legacy of contributing to Nigeria’s industrial and economic advancement.

He added that the college was committed to fostering creativity, equipping students with practical skills and bridging the gap between academic knowledge and real-world application.