How Nigeria Can Accelerate Economic Growth – Obasanjo

Former President Olusegun Obasanjo has outlined key steps Nigeria must take to achieve faster and sustainable economic growth. Speaking at a public forum, Obasanjo emphasized that Nigeria’s vast resources and youthful population can become major assets if properly harnessed through visionary leadership and sound economic management.

He identified agriculture, industrialization, education, and infrastructure development as critical pillars for growth, urging the government to prioritize policies that enhance productivity and attract investment.

Obasanjo also warned that without strong institutions, fiscal discipline, and a deliberate effort to reduce corruption, Nigeria’s economy would continue to underperform despite its potential.

He further called for improved power supply, export diversification, and support for small and medium-scale enterprises (SMEs), stressing that inclusive growth — not just GDP expansion — should be the ultimate goal.

Obasanjo called for the establishment of a 25-year national development plan that would be backed by legislation to ensure continuity across successive governments. He said such a framework would guide strategic investments and prevent frequent policy reversals that discourage investors

“Nigeria must stop depending on oil revenues and start producing what it consumes. Economic transformation requires courage, consistency, and commitment from both leaders and citizens,” Obasanjo said.