SPIER DIALOGUE: Africa has no reason to remain poor — Peter Obi

Africa, Politics

CAPE TOWN, South Africa (NPA) — Presidential aspirant under the umbrella of the Nigeria Democratic Congress, Mr Peter Obi, has said Africa possesses enormous human and natural resources that should position the continent among the world’s leading economies, insisting that there is no justification for persistent poverty across Africa.

Obi made the remarks while delivering a guest speech at the Spier Dialogue Event on “Policies for Growth in Africa” in Cape Town, South Africa, after earlier meetings with ministers in the country.

According to him, Africa is richly endowed with huge mineral deposits, more than 60 per cent of the world’s uncultivated arable land, and the youngest population globally, describing the continent’s youthful population as a strategic asset for economic transformation rather than a burden.

The former Anambra State governor, however, blamed Africa’s slow development on poor leadership, corruption, weak institutions, and the high cost of governance.

He urged African leaders to shift attention away from “politics and endless election cycles” toward productivity, development, and nation-building.

Obi stressed that the future of Africa depends largely on aggressive investment in Human Development Index (HDI) indicators such as education, healthcare, and poverty reduction.

He lamented that many African nations still struggle with low life expectancy, rising unemployment, widespread poverty, and high infant mortality rates.

The presidential aspirant also warned that small and medium-scale businesses across the continent were collapsing under harsh economic conditions, poor infrastructure, and inconsistent government policies.

According to him, Africa urgently requires competent leadership with the capacity, compassion, and commitment to prioritise production over consumption and development over politics.

Obi added that strengthening institutions, reducing the cost of governance, combating corruption, and creating an enabling environment for businesses would help Africa become more productive, secure, democratic, and prosperous.