The 2023 presidential candidate of the Labour Party (LP), Peter Obi, stated that Nigeria could earn more from agriculture than from oil if the country invests in the agricultural sector, News About Nigeria reports.
Obi, who secured the third position in the February 25, 2023, Presidential election, made this statement on Tuesday in a post on his official X handle while commenting on his address at the Commonwealth-organized Trade and Investment Summit in London, titled “Harnessing the African Opportunity.”
According to him, the North possesses vast uncultivated land; therefore, focusing on agriculture could boost revenue more than relying on income from crude oil.
Obi elaborated on Africa’s challenges in harnessing resources, noting that the continent, despite its diverse potential and opportunities, faces challenges, especially in leadership.
Furthermore, he mentioned that Africa is home to many who suffer from extreme poverty and multi-dimensional poverty. However, there is a growing belief that Africa can move towards transformation, he added.
Obi argued that Africa is a key player in the global economy, considering its population of over 1.4 billion people, a youthful workforce with a concentrated working-age population of about 1.1 billion people, and its abundance of natural resources ranging from minerals to over 874 million hectares of arable land for the agricultural revolution.
Speaking on the potential of Africa, Obi said the continent offers diverse opportunities in Technology, Entertainment, Natural Resources, and Agriculture, further illustrating the emerging prospects of the continent.
He also noted that the continent is creating new opportunities for entrepreneurs and businesses, including increased access to education and healthcare. Africa is home to a litany of natural resources, including oil, gas, minerals, and timber.