Nigeria Has No Business Being Poor, Says Shettima

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

 

Shettima stated this on Wednesday while delivering the keynote address at the Agric, Development and Investment Summit in Abuja.

 

He cited Indonesia’s success in the oil palm industry as an example of how strategic investment in agriculture can drive national prosperity.

 

According to the Vice President, Indonesia generated about $25 billion from crude palm oil exports in 2025, surpassing Nigeria’s earnings from crude oil exports.

 

“Indonesia is an oil-producing nation, but in 2025 it earned 25 billion dollars from 53 million tons of crude palm oil while exporting only 32 million tons. Its revenue exceeded Nigeria’s oil revenue with just about 50 per cent of what Indonesia earned from oil palm exports,” he said.

 

Shettima also highlighted the untapped economic potential of the Niger Delta, describing it as the world’s third-largest delta with vast opportunities for mariculture, including fish farming and the cultivation of species such as salmon, tuna and lobsters.

 

“The Niger Delta is the third largest delta in the world, and what do people in mariculture do? Fish farming like salmon, tuna, lobsters, and the Delta is endowed with those resources,” he said.

 

He maintained that developing Nigeria’s agricultural and marine resources would boost the economy and improve the livelihoods of millions of citizens.

 

“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 added.