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The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has said Nigeria must shift from a consumption-driven economy to one anchored on production, insisting that agriculture, manufacturing and support for small businesses are the keys to sustainable economic growth and poverty reduction.
Speaking during an interview on Channels Television’s Sunday Politics, Obi argued that Nigeria possesses the land, natural resources and human capital needed to become one of the world’s leading producers of food and industrial goods, but has failed to harness its potential.
“The only way to pull Nigeria out of poverty, or even genuinely grow GDP, is through production, not consumption. That production starts with agriculture, which gives you the food you need, raw materials for your factories, and jobs. That’s a win-win,” he said.
The former Anambra State governor maintained that agriculture should be the foundation of economic recovery, noting that Nigeria could earn more from agricultural exports than crude oil if the sector received adequate investment.
“This country can produce enough of what we can eat, and we can actually make more money from agriculture than we make from oil because, as it is today, we have vast uncultivated land,” Obi stated.
He blamed years of reliance on cheap imports for weakening local farming, arguing that Nigeria had the capacity to produce far more food than it currently does.
Drawing comparisons with countries such as Bangladesh, the Netherlands, Morocco, Ethiopia and Kenya, Obi said their success in agricultural production and exports demonstrated what Nigeria could achieve with the right policies.
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According to him, restoring security is critical to unlocking Nigeria’s agricultural potential, as many fertile farmlands remain inaccessible because of insecurity.
Obi also stressed that agriculture alone would not transform the economy unless it was linked to a strong manufacturing sector capable of processing raw materials and boosting exports.
“From there you move into manufacturing. To build a strong economy, you need a strong manufacturing base, and you must export,” he said.
The NDC flagbearer further pledged to create an enabling environment for entrepreneurs and small businesses through affordable financing, training and supportive government policies, saying small enterprises remain the biggest employers in successful economies.
On food imports, Peter Obi said he would not impose an immediate ban but would first strengthen domestic production to ensure Nigeria could meet its own food needs before restricting imports.
“People always say you can’t do it—but let’s start, let people see it. Nobody achieves anything overnight. Rome wasn’t built in a day, but people saw its foundation and saw it going up,” he added.
