Peter Obi, Nigerian presidential hopeful, recently addressed a distinguished audience at Liverpool John Moores University, invited by The Liverpool Commonwealth Association. Speaking on “Harnessing the Commonwealth Advantage for Trade and Investment,” Obi highlighted the Commonwealth’s vast potential for growth and development, emphasizing its population of over 2.5 billion and GDP of $13 trillion, projected to reach $20 trillion by 2030. Attendees included Mr. Mark Blundell, Lord-Lieutenant of Merseyside, Liverpool’s Lord Mayor Richard Kemp, and Tim Nicholl, Vice-Pro Chancellor of LJMU Business School, among others.
Obi underscored the Commonwealth’s unique position to drive inclusive growth and sustainable development, advocating for reduced trade barriers, boosted investments, and strengthened cooperation among member states. He noted that these efforts could collectively uplift member nations, fostering economic prosperity for all.
For Nigeria, Obi delivered a pressing message: the nation’s low productivity has limited its trade contributions within the Commonwealth and beyond, stifling potential. He emphasized the need for Nigeria to transition from a consumption-based economy to one centered on production. Obi outlined actionable strategies, including major investments in agriculture, robust support for small and medium-sized enterprises, and a steadfast commitment to the rule of law to attract both foreign and local investors.
“A new Nigeria is POssible,” Obi declared, calling for transformative leadership to propel Nigeria to its rightful place within the Commonwealth’s economic landscape. By embracing productivity and innovation, he argued, Nigeria can strengthen its economy and become a significant contributor to the Commonwealth’s future.
