Peter Obi Pushes For Economic Shift To Production In Nigeria

Peter Obi Pushes For Economic Shift To Production In NigeriaPeter Obi, the 2023 presidential candidate for the Labour Party, has urged Nigeria to prioritize productivity and enhance its trade contributions within the Commonwealth. Speaking at Liverpool John Moores University on the theme “Harnessing the Commonwealth Advantage for Trade and Investment,” Obi emphasized the necessity of shifting away from a consumption-driven economy.....KINDLY READ THE FULL STORY HERE▶

He noted that with a population exceeding 2.5 billion and a GDP projected to grow from over $13 trillion to $20 trillion by 2030, the Commonwealth offers significant opportunities for growth and development if effectively utilized.

Obi pointed out that Nigeria’s low contributions to the Commonwealth economy stem from a lack of productivity. “This is a wake-up call. We must embrace productivity and ignite the wheels of production,” he stated, advocating for increased investment in agriculture and support for micro, small, and medium-sized enterprises through favorable policies.

He also highlighted the critical role of youth in shaping the future, calling for the Commonwealth to harness their energy and innovation for sustainable development.

Obi emphasized that the focus should be on leveraging resources, particularly youthful innovation, to drive collective advancement and economic prosperity among member states.

“To promote inclusive growth, foster innovation, and champion sustainable development, we must lower trade barriers, encourage investment, and deepen cooperation,” he added. He concluded by advocating for adherence to the rule of law to attract both foreign and local investors, positioning Nigeria as a vital player in the Commonwealth’s economic landscape.

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