Vice President Kashim Shettima has declared that Nigeria possesses enormous natural and economic resources and should not be grappling with widespread poverty, urging greater investment in agriculture and the marine economy to unlock the country’s wealth.
Shettima made the assertion on Wednesday while delivering the keynote address at the Agric, Development and Investment Summit in Abuja.
The Vice President said Nigeria’s vast agricultural potential, fertile land and marine resources remain largely untapped, stressing that the country could become one of the world’s wealthiest nations if it fully harnesses its comparative advantages.
Drawing a comparison with Indonesia, Shettima noted that the Southeast Asian nation generated more revenue from palm oil exports in 2025 than Nigeria earned from crude oil.
According to him, Indonesia, despite being an oil-producing country, earned about 25 billion dollars from crude palm oil exports, surpassing Nigeria’s oil earnings.
He said the development underscores the economic opportunities Nigeria has failed to maximise in the agricultural sector.
“Indonesia is an oil-producing nation, but in 2025 it earned 25 billion dollars from crude palm oil exports. Its revenue exceeded Nigeria’s oil earnings,” Shettima said.
The Vice President also highlighted the economic potential of the Niger Delta, describing it as the third-largest delta in the world with abundant opportunities in aquaculture and the blue economy.
He lamented that the region’s rich marine resources, including fish species such as salmon, tuna and lobsters, remain underutilised despite their huge commercial value.
“The Niger Delta is the third-largest delta in the world, yet we have not fully exploited its enormous marine resources. Fish farming and other maritime businesses can create immense wealth for our people,” he said.
Shettima maintained that Nigeria’s economic challenges were not due to a lack of resources but the inability to fully develop and commercialise them.
“In this great nation of ours, we have no business being poor. We have the potential to be one of the richest countries in the world.
“There are certain parts of this country where money can grow; you can plant money and harvest tremendous wealth,” the Vice President added.
He called on governments, investors and development partners to deepen investments in agriculture, agribusiness and marine resources as part of efforts to diversify the economy, create jobs and reduce poverty.
Shettima reaffirmed the Federal Government’s commitment to policies aimed at expanding agricultural production, attracting investment and driving sustainable economic growth.
FOLLOW US
FOR MORE HERE
