Sunday, 6 September 2020

Peter Obi: Nigeria needs wealth creators as leaders

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The Democratic People’s Party, PDP, candidate for vice president in the 2019 general elections Peter Obi said Nigeria needs wealth creators as leaders if the country is to achieve integrated economic growth.

Peter Obi: Nigeria needs wealth creators as leaders

Obi explained that Nigeria manages what can be described as a “consumer economy,” which has encouraged states, organizations and agencies to always depend on the federal government in revenue sharing.

Obi called when he spoke about the event that marked Anaedoonline’s 2nd Anniversary Conference. He said that if wealth makers were elected to political leadership positions at all levels of government, the various sectors of the economy would come to life with sustainable growth and development.

Obi lamented the culture of consumption of wealth that devoured the country. He said complete dependence on oil revenues has done Nigeria more harm than good. He said over-reliance on oil stagnated in other non-oil sectors of the economy as people continued to expect to share and spend oil revenues. He said the drop in oil prices, caused by the global pandemic, "should have taught us a lesson that complete dependence on oil will not save us".

The former vice-presidential candidate believed that if Nigeria were wealth creators as leaders, all sectors of the economy would become productive to achieve sustainable growth. According to him, this will reduce dependence on oil revenues and thus eliminate civic "consumer potential".

Obi cited the example of non-oil producing countries like the United States, whose economies were very productive. "Apple Inc. in the United States had an annual GDP of $ 260.17 billion as a company in 2019, while Nigeria as a country generated approximately $ 448.12 billion in 2019. Therefore, only one company in the United States generated nearly half as much as the whole of Nigeria generated 2019. 2019. The reason is that they have wealth creators, as leaders, and we don’t, ”Obi concluded.

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