Former presidential candidate Peter Obi has argued that Nigeria’s persistent poverty and hardship are not caused by a lack of resources, but by years of mismanagement, corruption and poor leadership.
Speaking as a guest and panellist at the 66th Annual General Conference of the Nigerian Bar Association in Port Harcourt, Obi said Nigeria possesses the human and natural resources required to become a prosperous nation.
He particularly highlighted agriculture, arguing that Nigeria should not be importing food when it has enormous agricultural potential.
According to Obi, the vast agricultural land across Northern Nigeria could become a major engine of economic transformation if supported with the right investments, infrastructure, policies and political will.
Obi Defends His Position on Fuel Subsidy
Obi also revisited his position on the removal of the petrol subsidy.
He maintained that the subsidy regime was deeply affected by corruption, but argued that his preferred approach in 2023 was to first eliminate the corruption, establish the actual cost of the subsidy and then implement a carefully planned, phased removal.
His central criticism is not simply that the subsidy was removed, but that Nigerians have yet to see sufficient transparency over the savings generated from its removal.
He argued that the savings should have been channelled into clearly defined priorities, including:
- Agriculture and food security
- Healthcare
- Education
- Poverty reduction
- Infrastructure
- National security
- Human capital development
- National unity
Obi’s argument presents the subsidy debate as fundamentally a question of what Nigerians receive in return for economic sacrifices.
If citizens are paying significantly more for petrol, transportation and other necessities, he argues, the government must demonstrate that the resources saved are being converted into tangible improvements in their lives.
Agriculture as Nigeria’s Economic Opportunity
One of the strongest elements of Obi’s argument is his emphasis on agriculture.
Nigeria has a large population, extensive arable land and significant agricultural potential. Yet the country continues to spend substantial resources importing food.
Obi argues that this represents both an economic weakness and an opportunity.
With investment in irrigation, storage, rural roads, mechanisation, agricultural financing, processing and security, Nigeria could potentially move from being a major food importer to becoming a major food producer and exporter.
This would also create employment opportunities, particularly for young Nigerians.
The Bigger Political Argument
Ultimately, Obi’s message goes beyond agriculture or fuel subsidies.
His central argument is that Nigeria’s crisis is fundamentally a leadership problem.
He contends that a country with Nigeria’s population, natural resources, entrepreneurial population and strategic position should not be experiencing widespread poverty and hunger.
The challenge, therefore, is to build institutions and leadership capable of converting national resources into broad-based prosperity.
His priorities are consequently centred on competence, accountability, transparency and purposeful investment rather than simply increasing government spending.
“Nigeria has all it needs to prosper. What remains is competent, honest, and purposeful leadership that puts the common good above personal interests.”
The statement fits directly into Obi’s broader political message ahead of the 2027 presidential election, where he has positioned himself as an alternative to the established political order.
His closing message remains characteristically optimistic:
“A New Nigeria is POssible, and Nigeria will be OK.”
