Obi blames leadership gap for Africa's underdevelopment

…Says Africa’s $1900 GDP per capita is unacceptable

Peter Obi, the Labour Party LP, Presidential candidate in the 2023 election, has blamed the absence of good leaders in Africa, for its availability to harness the continent’s huge natural resources, adding that the $1900 GDP per capita, is unacceptable.

Peter Obi, while addressing the plenary of Commonwealth Enterprise and Investment Council (CWEIC) Trade and Investment Summit of 2025, noted that the continent’s vast resources, if fully harnessed, promises a great positive impact, not just within the Commonwealth economy but globally.

Speaking on topic “Africa’s role in the new global economy”, stated that the recent interventions of President Trump have disrupted some of the settled assumptions of the global economy, which has seen many countries now taking proactive and active responses to secure their economies, while the same is presently not happening in Africa.

According to him, ” Despite its vast opportunities, Africa’s share of global trade, according to the World Trade Organization (WTO), stands at 2-3%.

“Our share of the global GDP stands at about 3%. Africa’s GDP per capita is even worse at $1900 when compared to the continent in ranking – Asia, where the GDP per capita is around $9000”.
Obi noted that Africa’s global trade and GDP has been stagnant for more than 2 decades in contrast to Africa being the 2nd largest and most populous continent with a population of about 1.5 billion people.

He also noted that Africa is home to the most youthful and dynamic workforce with the largest concentration of working-age population of about 1 billion people, adding the continent has an abundance of natural resources ranging from minerals to nearly a billion hectares of arable uncultivated land.

“What is missing is the leadership that can reorder priorities and scale up productivity so that African countries can enter higher grade value creation.

‘We have seen evidence of the possibility of higher-grade value creation in some of the better-governed African countries.

“Africa holds over 60% of the world’s arable land. Approximately 30 per cent of the world’s mineral resources are found in Africa”

The Labour Party leader, stated that “while Africa did not witness a similar economic transformation under globalization 2.0, we need to rise up and take the right actions to ensure that we can profit from whatever trading system will arise in the wake of the second Trump Presidency.

He charged the continent’s leaders to invest in its potential – the youthful human capital, numbering over a billion workforce, to create the needed skilled workforce and productivity both for Africa’s and global development.

“Africa’s food and agriculture market is projected to increase from its present amount of about US$280 billion a year to over US$1 trillion a year by 2030.

“This shows that with agriculture at the core of Africa’s economic transformation, the continent has the potential to become a global agricultural powerhouse and a net exporter of food, contributing immeasurably to the new global economy.

“The challenge is scaling up and sustaining innovative production in the region. We need to produce more goods and services that the world needs and be smart to leverage whatever global trade arrangement survives Mr Trump’s disruption.

“This is a junction for transformative change in Africa. This period requires new thinking about leadership. It requires refocusing on productivity.

He stated that the continent had pursued economic convergence in the previous era by importing political and economic institutions of Western developed economics without focusing on productivity and human capital development like the developmental state of Asia.

The former Anambra State Governor said the challenges provide huge opportunities to rebuild African economies through new leadership that focuses on rapid upgrades in productive capacities, especially innovative education and healthcare and pulling Africans out of poverty.