Former Anambra State Governor and Labour Party presidential candidate, Peter Obi, has said that Nigeria can generate more revenue from agriculture than from oil if the sector is given adequate attention and investment.
Obi made this known while addressing the growing concerns over food insecurity and economic instability in the country.
According to him, Nigeria’s vast arable land, especially in the northern region, remains one of the country’s greatest untapped resources. He stressed that proper management and mechanisation of the agricultural sector could turn Nigeria into a major food exporter and significantly boost foreign exchange earnings.
“The problem is not that we don’t have the resources,” Obi said. “It is that we have failed to harness what we already have. Our agricultural potential can earn us more than what we currently make from oil if we take it seriously.”
The former governor explained that many countries with smaller land areas than Nigeria have transformed their economies through agriculture, while Nigeria continues to depend heavily on oil revenue. He said the country’s overreliance on crude oil has made it vulnerable to global market fluctuations and hindered sustainable growth.
Obi further noted that food insecurity and high food inflation are direct results of neglecting agriculture and poor policy implementation. He urged the federal and state governments to prioritise the sector by investing in modern farming methods, providing credit facilities to farmers, and building agricultural infrastructure to encourage production and exports.
He concluded that Nigeria must intentionally move from “consumption to production” to secure its economic future. “If we want to fight hunger, create jobs, and strengthen our currency, agriculture is the answer,” Obi said.
