Vice President Kashim Shettima has said Nigeria has no reason to remain poor, stressing that the country’s abundant natural resources and economic potential could make it one of the richest nations in the world if properly harnessed.
Shettima stated this on Wednesday while delivering the keynote address at the Agric, Development and Investment Summit in Abuja.
The Vice President pointed to Indonesia’s achievements in the oil palm sector as an example of how strategic investment in agriculture can generate significant national wealth.
According to him, Indonesia, despite being an oil-producing country, earned about $25 billion from crude palm oil exports in 2025, with the revenue exceeding 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 economic opportunities in the Niger Delta, describing the region as the world’s third-largest delta with enormous potential 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.
The Vice President maintained that Nigeria’s agricultural and marine resources, if effectively developed, could transform the nation’s economy and improve the livelihoods of its 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,” he added.
