Obasanjo says Nigeria has no reason to stay poor, blames import reliance

Former Nigerian President Olusegun Obasanjo declared that Nigeria has no reason to remain poor, citing the country's abundant natural and human resources. Speaking on the C-Suite Cafe programme hosted by Ikem Okuhu, Obasanjo said Nigeria possesses sufficient land, water, rainfall and population to produce what its people need and build a prosperous economy. He argued that policies encouraging the importation of goods that could be produced locally undermine farmers and domestic producers, contributing to persistent poverty.

Obasanjo challenged listeners to name a single justification for Nigeria's poverty, asking whether it stems from a lack of land, desert conditions, people, water or rain. He emphasized that agricultural potential should be treated as a major economic asset rather than allowing reliance on foreign products. Recalling his tenure as African Union chairman, he recounted a visit to Guinea-Bissau with former Ghanaian President John Kufuor, where they observed fertile land and abundant bananas growing naturally, only to be served imported apples and grapes at their hotel. "That's part of the reason why we are poor," he added.

The interview highlights ongoing discussions about import substitution and local production in Nigeria. Given the country's abundant land, water and labour, what steps could turn these resources into reduced import dependence and greater domestic wealth?

SOURCE: https://dailypost.ng/2026/09/14/nigeria-has-no-reason-to-be-poor-obasanjo/