Peter Obi Unveils Strategy To Lift Millions Of Nigerians Out Of Poverty

The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has unveiled an economic plan aimed at moving Nigeria away from a consumption-based economy to one driven by production, agriculture, manufacturing and small businesses.

According to Ireporter Online, Obi stated during an interview on Channels Television’s Sunday Politics that Nigeria possesses the resources, land and human capital needed to become a major producer and exporter if the right economic policies are adopted.

The former Anambra State governor argued that increasing local production would help tackle poverty, unemployment and economic challenges by creating jobs and reducing the country’s dependence on imported goods.

Obi said agriculture would serve as the foundation of his economic strategy, noting that Nigeria could generate greater revenue from farming and agro-processing than from crude oil if the sector receives proper investment.

“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,” he said.

The NDC candidate said Nigeria’s agricultural potential remains largely untapped due to years of neglect, poor support systems and reliance on imported food products, which he believes weakened local farmers.

Using rice production as an example, Obi compared Nigeria’s output with countries such as Bangladesh, saying the Asian nation has achieved remarkable success despite having less available land.

He also highlighted the Netherlands as an example of how agriculture can become a major source of wealth, stating that the country earns billions of euros annually through agricultural exports despite its small size.

Obi further pointed to countries such as Ethiopia, Kenya and Morocco as examples of nations that have successfully developed profitable agricultural export sectors.

According to him, Nigeria can achieve similar results by investing in modern farming methods, agricultural infrastructure and value-added processing industries.

However, Obi stressed that insecurity must be addressed before rural communities can fully participate in agricultural activities.

He identified areas such as Niger State and the Sambisa region as places with significant agricultural potential that have been affected by insecurity.

The former governor said restoring peace in farming communities would allow millions of hectares of fertile land to become productive and contribute to economic growth.

Beyond agriculture, Obi explained that Nigeria must also strengthen its manufacturing sector by processing raw materials locally instead of exporting them in their unprocessed form.

He said a strong manufacturing base would help increase exports, create employment opportunities and reduce dependence on imported products.

The NDC candidate also emphasised the importance of supporting small and medium-sized businesses, saying entrepreneurs need affordable financing, proper training and a favourable business environment to succeed.

Obi criticised the high cost of borrowing in Nigeria, arguing that small businesses cannot survive when faced with extremely high interest rates and limited government support.

He said his proposed economic approach would encourage private-sector growth rather than government ownership of businesses.

On food imports, Obi clarified that his administration would not immediately ban imported food products without first ensuring that local production capacity was strong enough to meet national demand.

He explained that countries such as India and Vietnam gradually built their agricultural sectors before becoming major producers and exporters.

Obi acknowledged that transforming Nigeria’s economy would require time, but maintained that consistent efforts and visible progress would restore confidence among citizens.

He said improved security, increased agricultural production, industrial growth and access to affordable financing would be essential in repositioning Nigeria as a productive economy capable of reducing poverty and competing globally.