Vice President Kashim Shettima has said that Nigeria has no reason to remain poor, given its vast natural and human resources.
Shettima made the remark on Wednesday while delivering the keynote address at the Agric, Development and Investment Summit held in Abuja.
Highlighting the country’s untapped economic potential, the Vice President noted that Indonesia generated more revenue from oil palm exports in 2025 than Nigeria earned from crude oil, stressing the need for greater investment in agriculture and economic diversification.
The vice president said, “Indonesia is an oil producing but in 2025 it earned 25 billion dollars from 53 tons of crude palm oil while exporting only 32 million tons, its revenue exceeded more than Nigeria’s oil revenue with just 50 percent of what Indonesia earned from oil palm export.
“The Niger Delta is the third largest Delta in the world, and what do people in Mariculture do? Fish farming like Salmond, Tuner, lobsters, and the Delta is endowed with those resources.
“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.”
BACKSTORY:
Vice President Kashim Shettima has consistently advocated for economic diversification, stressing that Nigeria must reduce its heavy dependence on crude oil by investing more in agriculture, manufacturing, technology, and other productive sectors.
Speaking at several economic forums in recent years, Shettima has argued that the country’s vast natural resources, fertile agricultural land, youthful population, and strategic location provide a solid foundation for sustainable economic growth if properly harnessed.
He reiterated this position while delivering the keynote address at the Agric, Development and Investment Summit in Abuja, where he emphasized the need for Nigeria to unlock the full potential of its agricultural sector. To underscore his point, the Vice President noted that Indonesia generated more revenue from oil palm in 2025 than Nigeria earned from crude oil, describing it as evidence of the enormous opportunities Nigeria has yet to fully exploit.
According to Shettima, Nigeria possesses all the resources required to become an economic powerhouse, insisting that with the right policies, strategic investments, and effective implementation, the country has no reason to remain trapped by widespread poverty.
