Peter Obi: Nigeria Poor Because It Is Not Productive

The presidential candidate of the New Democratic Congress (NDC), Peter Obi, has blamed Nigeria’s economic hardship and food insecurity on the country’s low level of productivity, saying the nation must urgently move from consumption to production.

Obi made the remarks while speaking at the 66th Annual General Conference of the Nigerian Bar Association (NBA) in Port Harcourt, Rivers State, where he addressed participants on the conference theme, “Beyond Limits.”

According to him, Nigeria’s inability to produce enough food and other essential goods has contributed significantly to the country’s poverty and hunger crisis.

“Nigeria is poor today because it is not a productive country. Nigeria is among the hungriest countries in the world,” Obi said.

He noted that Nigeria’s dependence on food imports had become a source of concern, pointing out that Ukraine, despite being involved in a war, had supplied grain to Nigeria in the past two years to help address hunger.

On the removal of fuel subsidy, the former Anambra State governor said he supported the policy but criticised the management of the resources recovered from the subsidy regime.

“I subscribe, and I maintain that you need to remove the subsidy. Mismanagement of the proceeds should not be the reason for not removing it,” Obi said.

He, however, argued that the government should have provided alternatives and targeted support for Nigerians immediately after the subsidy removal to cushion its impact.

“What we should have done is that, when you remove subsidy, we should have given the people alternative usage for the subsidy,” he said.

Obi further alleged that the resources recovered following the removal of subsidy were being mismanaged and stolen instead of being channelled into productive sectors and measures capable of improving the welfare of Nigerians.

He called for greater accountability, productivity and responsible management of public resources, stressing that Nigeria must build an economy capable of producing what its citizens consume and creating opportunities for sustainable economic growth.