The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has outlined a plan to move Nigeria away from what he described as a consumption-driven economy to one anchored on production, agriculture, manufacturing and small businesses.
Naijaonpoint reports that Obi, who spoke during an interview on Channels Television’s Sunday Politics, said Nigeria had enough land, resources and human capital to become a major food producer and exporter if the right policies were implemented.
The former Anambra State governor argued that the country’s economic challenges, including unemployment and poverty, could be better addressed by increasing local production and reducing excessive dependence on imports.
“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. That’s a win-win,” he said.
Obi said agriculture would be at the centre of his economic strategy, insisting that Nigeria could earn more from farming and agro-processing than it currently generates from crude oil.
“This country can produce enough of what we can eat, and we can actually make more money from agriculture than we make from oil because, as it is today, we have vast uncultivated land,” he said.
Using rice production as an example, Obi said Nigeria was producing below its potential despite having large areas of arable land.
He blamed years of dependence on cheap food imports for weakening local agriculture and discouraging farmers.
“We’ve used cheap importation to kill our farmers. We can do more,” he said.
Obi compared Nigeria with Bangladesh, saying the Asian country had achieved significantly higher rice output despite having a smaller land area.
“Bangladesh today produces about 15 to 16 million tonnes of unmilled rice… they are now the third or fourth largest producer globally,” he said.
He maintained that Nigeria could surpass such production levels if it invested in modern farming, infrastructure and support for agricultural businesses.
Obi Cites Netherlands, Ethiopia
The NDC candidate also pointed to the Netherlands as evidence that agriculture could become a major source of foreign exchange.
According to him, the European country generates more than €120bn annually from agricultural exports despite its relatively small land size.
“The Netherlands earns over €120 billion, about $130 billion, from agricultural exports every year. That’s three times what we earn from oil,” Obi said.
He also cited Morocco, Ethiopia and Kenya as examples of countries that had developed profitable agricultural export industries.
Obi said Ethiopia earns substantial revenue from coffee exports, while Kenya has built an international market around flowers.
“Around Valentine’s Day, planes are flying out with flowers we could be cultivating ourselves,” he said.
Security Key To Agricultural Revival
Obi, however, said agricultural expansion would depend heavily on restoring security in rural communities.
He argued that large areas of fertile land across Nigeria remained abandoned or underutilised because farmers could no longer operate safely.
Obi singled out Niger State as an example of a region with enormous agricultural potential that had been undermined by insecurity.
“Niger State today is virtually occupied by terrorists, yet it has vast, fertile, cultivable land. If you put resources behind it, you can turn it around,” he said.
He also referred to the Sambisa Forest, saying the area should eventually be transformed from a symbol of insecurity into an economically productive zone.
“Sambisa is about 60,000 square kilometres, twice the size of Belgium… Belgium feeds itself and exports food,” he said.
The former governor also highlighted Taraba State and the Mambilla Plateau, saying their climatic conditions could support the large-scale cultivation of tea and coffee for export.
Manufacturing To Complement Agriculture
Obi said expanding agriculture alone would not be sufficient to transform the economy without a corresponding revival of the manufacturing sector.
He explained that agricultural output should provide raw materials for factories, reduce imports, strengthen exports and create jobs.
“From there you move into manufacturing,” he said.
According to him, Nigeria must build industries capable of processing its natural and agricultural resources instead of exporting them in raw form.
“To build a strong economy, you need a strong manufacturing base, and you must export,” Obi added.
Small Businesses Need Support
Obi also said his economic model would rely heavily on private-sector participation, stressing that the role of government should be to create an environment where entrepreneurs and businesses could thrive.
“I never said government would produce. We will encourage the private sector, entrepreneurship, and small businesses,” he said.
He argued that small and medium-sized businesses remained major employers in several successful economies but were being constrained in Nigeria by expensive credit, inadequate training and poor infrastructure.
Citing Indonesia, Obi said small businesses were responsible for the majority of jobs in the country and benefited from government-backed financing.
“How can you run a small business with no government support, no training, and interest rates at 35 per cent? It’s impossible,” he said.
He also referenced China, saying small businesses account for a significant proportion of employment, particularly in urban areas.
Obi said Nigeria would need affordable credit, skills development and a more stable business environment to achieve similar results.
No Immediate Food Import Ban
Asked whether his administration would immediately prohibit food imports, Obi ruled out such a measure until domestic production was strong enough to meet demand.
“Not without first building up local production and employment,” he said.
He cited India and Vietnam as countries that moved gradually from dependence on imported food to becoming major producers and exporters.
Obi acknowledged that the transition to a production-led economy would take time but said Nigerians needed to see clear evidence that the country was moving in the right direction.
“People always say you can’t do it, but let’s start, let people see it. Nobody achieves anything overnight. Rome wasn’t built in a day, but people saw its foundation and saw it going up,” he explained.
He added that visible progress would help restore public confidence.
Obi added, “What drives a process is hope; hope gives people faith.”
Obi maintained that improved security, stronger agricultural production, expanded manufacturing and affordable financing for businesses could reposition Nigeria as a productive economy capable of creating jobs, reducing poverty and competing in international markets.
