Former President Olusegun Obasanjo has said Nigeria has no business with poverty, arguing that the country’s vast natural resources, agricultural potential and human capital are enough to build a prosperous economy.
Obasanjo made the remarks during an interview on C-Suite Café, where he discussed Nigeria’s economic challenges and the failure to fully utilise the country’s available resources.
The former president highlighted Nigeria’s vast arable land, favourable climate and abundant water resources, saying they could support large-scale food production for both domestic consumption and export.
He also identified the entrepreneurial and intellectual capacity of Nigerians at home and in the diaspora as valuable assets that remain largely underutilised.
Obasanjo further pointed to Nigeria’s solid mineral deposits, crude oil and natural gas as strategic resources that could help diversify government revenue.
On the causes of the country’s economic challenges, the former president criticised policy inconsistency, particularly the tendency of successive administrations to abandon long-term development plans and agricultural initiatives whenever there is a change in government.
He also expressed concern over Nigeria’s rising debt profile, recalling the debt relief secured during his administration, which he said cleared about $30 billion in external debt between 2005 and 2006.
According to Obasanjo, corruption, crude oil theft and leakages in public revenue remain major obstacles to using Nigeria’s wealth to improve infrastructure and social development.
He said eliminating poverty would
