Peter Obi: Africa is rich, but led by the wrong people

DDM News

On Saturday, May 31, 2025, former Anambra State Governor and Labour Party presidential candidate, Mr. Peter Obi, addressed an international audience at the London Business School.

The event, hosted by the Africa Business Club, centered on the theme, “From Promise to Prosperity: Charting Africa’s Development with Political Will and Vision.”

Shortly after the event, Peter Obi took to his X handle, @PeterObi, to share key highlights of his speech and to amplify his call for urgent reforms in Africa’s leadership approach.

His message attracted significant engagement online, drawing support from citizens and observers concerned about the continent’s direction.

Diaspora Digital Media (DDM) reports that Obi used the prestigious academic platform to offer a frank assessment of Africa’s current socio-economic condition and the role leadership has played in shaping its challenges.

He insisted that Africa is not a poor continent by default but suffers deeply from mismanagement and a lack of visionary, people-centered governance.

“Africa is blessed with about 30 percent of the world’s known mineral reserves,” Obi stated during the interactive session.

He added that the continent holds over 60 percent of the world’s uncultivated arable land, along with an estimated 60 percent of global solar energy potential.

Despite this immense wealth, many African nations continue to face energy poverty, food insecurity, and stunted economic growth.

Obi also emphasized the continent’s demographic advantage.

He noted that Africa is home to 1.4 billion people, with more than 60 percent under the age of 25.

He stressed that this youthful population presents a massive opportunity for development, if properly managed.

Looking forward to the next 25 years, Obi projected that by 2050, 40 percent of the world’s youth population will be African.

However, he lamented that this potential remains largely dormant due to persistent leadership failures, widespread poverty, rising unemployment, and insecurity.

The former governor drew a stark contrast between Asia and Africa.

While Asia now contributes over 35 percent of the world’s Gross Domestic Product (GDP), Africa contributes less than 3 percent.

He attributed this difference to the fact that many Asian leaders have focused on long-term investments in education, healthcare, manufacturing, and poverty reduction.

In contrast, African leadership, according to Obi, continues to neglect these vital sectors.

To reverse this trend, he called for an urgent shift in policy focus across the continent.

He urged African governments to cut down on wasteful public spending and redirect resources into the education, health, agriculture, and security sectors.

According to him, the path to shared prosperity lies in investing in people and unlocking productivity.

Obi further asserted that Africa does not lack potential or resources, it lacks the kind of leadership that is competent, purposeful, accountable, and development-driven.

He called for a new model of leadership built on competence, character, compassion, capacity, and integrity.

He concluded his address on a hopeful note, stating that a new Nigeria, and a new Africa, are not only desirable but also possible if the right leadership is embraced.

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