Nigeria Has No Business Being Poor, Says VP Shettima

Vice President Kashim Shettima has declared that Nigeria has no reason to remain poor, insisting that the country’s vast natural and agricultural resources position it to become one of the world’s wealthiest nations if properly harnessed.

Shettima made the assertion while delivering the keynote address at the Agric, Development and Investment Summit held in Abuja on Wednesday, July 15.

The Vice President cited Indonesia’s success in the oil palm industry, noting that the Southeast Asian nation generated more revenue from palm oil exports than Nigeria earned from crude oil in 2025.

According to him, Indonesia, despite being an oil-producing country, earned about 25 billion dollars from the export of 53 million tonnes of crude palm oil, surpassing Nigeria’s oil revenue while exporting significantly less than the country’s potential.

Shettima also highlighted the untapped opportunities in Nigeria’s Niger Delta, describing it as the world’s third-largest delta with enormous potential for mariculture, including fish farming, salmon, tuna and lobster production.

He lamented that these abundant resources remain largely underutilised, stressing that strategic investments in agriculture and the blue economy could significantly transform the nation’s economy.

“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 money resources,” the Vice President said.

He urged stakeholders to focus on unlocking Nigeria’s agricultural and marine resources as part of efforts to diversify the economy, create jobs and boost national prosperity.