Labour Party 2023 presidential candidate, Peter Obi, has declared that Nigeria remains Africa’s most promising investment destination, saying the country has the potential to become a multi-trillion-dollar economy if it pursues disciplined, competent and corruption-free leadership.
Naija News reports that Peter Obi made the remarks on Monday in Monaco while addressing participants at the 4th Africa Day event, organised by the Club des Entrepreneurs Monégasques en Afrique (CEMA).
Speaking on “The Future of Africa by 2050,” the former Governor of Anambra State said Africa’s greatest strength lies in its youthful population—an asset he described as a global competitive advantage.
Obi told the global investors and business leaders gathered at the event that Africa “remains the continent of tomorrow,” adding that its demographic strength positions it for innovation, productivity and sustained growth.
“Africa remains blessed with enormous resources, particularly its youthful population, 60 per cent of whom are young people who will drive innovation and productivity,” he said.
Obi noted that Nigeria’s projected population of over 320 million by 2050—with nearly 200 million youths of productive age—offers a massive human-capital advantage if harnessed properly.
“With competent leadership—leadership with capacity, compassion, character and commitment—to faithfully and simultaneously implement the right developmental policies, while drastically reducing waste and corruption, Nigeria can achieve remarkable progress,” he said.
He projected that with sustained investment in the right sectors, Nigeria’s economy could hit impressive growth benchmarks over the next three decades.
‘Nigeria Can Reach a $2 trillion Economy By 2050’
Highlighting global economic forecasts, Obi said Nigeria can grow to become a $2 trillion economy with a per capita income of about $7,000 between 2030 and 2050, provided the right policies are implemented without corruption or waste.
“By sustaining this growth trajectory, Nigeria can meet the Goldman Sachs projection of about $13 trillion GDP and $30,000 per capita by 2075,” he added.
Obi stressed that the country must urgently prioritise investments in its most critical sectors if it hopes to stabilise and grow sustainably.
According to him, Nigeria’s economic transformation must be anchored on four pillars: Security, Health, Education and Poverty alleviation.
“With a firm commitment to invest strictly in critical areas of development… Nigeria will be able to grow from 2030 to 2050,” he said.
The former Anambra State governor said he used the Monaco platform to make a strong case for fresh global investment flows into Africa.
“I passionately urged all attendees to invest in Africa, especially Nigeria, as their gateway into the continent, in view of the immense opportunities ahead,” Obi said.
He expressed confidence that both Nigeria and Africa are on the cusp of a major turnaround if reforms are taken seriously.
“I reassured them of a new Nigeria that is possible and indeed a new Africa that is also possible,” he concluded.
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