Nigeria Has No Reason to Be the Poverty Capital of the World – Peter Obi

By Emmanuel Kwada 

Labour Party presidential candidate Peter Obi declared that Nigeria’s vast natural resources make poverty unacceptable, urging an end to systemic corruption to unlock the nation’s potential. Speaking at the launch of a new book on inclusive development, Obi called for competent leadership and collective action to build a better future.

The event marked the unveiling of The Living Secret: Endowment for Development in Nigeria – An Ogoni Experiment, a 272-page work by renowned economist Prof. Magnus L. Kpakol. Once Chief Economic Adviser to President Olusegun Obasanjo, Kpakol proposes the “FLO – Full Local Ownership” model, drawing lessons from the Ogoni region’s resource management to promote fair growth across Nigeria.

“Nigeria has no reason to be poor or the poverty capital of the world, considering the abundant resources God has given us—both beneath and above the earth,” Obi told the audience.

He stressed that the country’s woes stem from “criminality within the system,” which must be dismantled to enable true leadership. “Building a new Nigeria is POssible,” he added, playing on his initials, “but it must involve all of us.”

The book highlights Kpakol’s decades-long push for equitable resource use, using the Ogoni case as a blueprint for national reform. Attendees, including traditional rulers and economists, applauded as Obi signed copies and engaged in discussions.

Obi’s remarks come amid Nigeria’s economic struggles, with inflation soaring and millions in multidimensional poverty. His message resonated on social media, sparking calls for accountability. As Kpakol’s experiment gains traction, it could inspire grassroots models for sustainable wealth.

Experts say the FLO approach empowers locals, reducing elite capture. Obi concluded: “Enthroning competent leadership will correct our sorry state.” The launch, lively with music and unveilings, ended on a hopeful note, reminding all that change starts with ownership.