Nigeria has no reason to be poor -VP Shettima

Vice President Kashim Shettima has stated that Nigeria has no reason to remain poor, and stressed that the country has natural resources and economic potential that could become one of the richest countries in the world if utilized properly.

Speaking while delivering a keynote address at the Agriculture, Development and Investment Summit in Abuja, Shettima cited Indonesia’s success in the palm oil sector as an example of how strategic investment in agriculture can generate enormous national wealth.

According to him, Indonesia, despite being an oil producing country, generates around $25 billion from crude palm oil exports in 2025, with revenues exceeding Nigeria’s crude oil revenues.

“Indonesia is an oil producing country, but in 2025 Indonesia will earn 25 billion dollars from 53 million tonnes of crude palm oil, while only exporting 32 million tonnes. Its income exceeds Nigeria’s oil income which is only around 50 percent of Indonesia’s income from palm oil exports,” he said.

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The Vice President also highlighted the untapped economic opportunities in the Niger Delta, and described the region as the third largest delta in the world with great potential for mariculture, including fish farming and the cultivation of species such as salmon, tuna and lobster.

“The Niger Delta is the third largest delta in the world, and what do marine farmers do? Farm fish like salmon, tuna, lobster and the Delta is blessed with these resources,” he said.

Shettima stated that Nigeria’s abundant agricultural and marine resources, if developed effectively, could significantly transform the country’s economy.

“In our great country, we cannot afford to be poor. We have the potential to be one of the richest countries in the world. There are parts of this country where money can grow; you can invest money and harvest enormous money resources,” he added