…says wealth is built on sustainable systems, not luxury
Stakeholders at the Wealth Creation Expo 2026 have identified poor financial orientation, lack of sustainable wealth structures, and inadequate value-based education as major factors driving poverty and social vices among Nigerians.
The experts spoke during the conference organised by Pyrex Consult in Lagos with the theme: “Building Sustainable System, Structure And Model of Wealth.”
Participants drawn from government institutions, the financial sector, religious bodies and the private sector examined practical pathways to wealth creation and sustainability.
Convener of the conference and Principal Consultant at Pyrex Consult, Dr. Sijiade Balogun, said the initiative was conceived to educate Nigerians on how to create wealth and sustain it beyond temporary financial gains.
According to him, many people wrongly equate wealth with luxury, whereas true wealth is built on sustainable systems, discipline and long-term planning.
“Wealth Creation Expo 2026 was conceived out of our idea to train people on how to create wealth and sustain it. We discovered there was a misconception that wealth is luxury,” Balogun said.
He lamented the growing “money-centric” culture in society, noting that many people now focus solely on immediate financial rewards rather than value creation and service.
“People no longer ask for value or voluntary service. The first question now is how much they will be paid. The platforms that once helped people to grow and gain experience have gradually disappeared,” he stated.
Balogun also linked rising cybercrime, drug abuse and youth-related vices to the failure to educate children early about financial discipline and responsible wealth creation.
“A missing link is that we have not been talking to children. This has contributed to the rise of Yahoo boys, drug addiction and other vices because many young people do not understand what wealth truly means,” he added.
The convener explained that the conference brought together key stakeholders including banks, government agencies, the Lagos State Commissioner for Wealth Creation, members of the Lagos State House Committee on Wealth Creation, and religious organisations to deepen conversations around financial empowerment.
He noted that the organisation had gone beyond conferences to grassroots workshops across local government areas where residents are taught practical steps towards financial independence.
“Putting aside N1,000 daily can make somebody wealthy over time. Wealth is a culture of discipline and systems,” Balogun stressed.
Tracing the evolution of Pyrex Consult, he said the initiative started in 2004 with career and purpose-driven sessions for students before expanding into human capacity development, staff training and free online empowerment programmes.
According to him, the company later changed its name from SAGE Consult to Pyrex Consult in 2012 as part of its broader transformation agenda.
Balogun said the organisation is seeking partnerships with governments, SMEs, financial institutions and religious bodies to expand financial literacy campaigns and support struggling Nigerians with startup opportunities.
He recalled how pensioners between 1999 and 2001 frequently protested over hardship after retirement, despite spending decades in active service.
“We saw pensioners crying after serving for 35 years with nothing to show for it. The question is: while they were in service, could they not have built wealth? You don’t have to work for government before you can become financially stable,” he said.
He added that tackling poverty through education and financial orientation remains one of the major goals of the initiative.