Nigeria has no justification for poverty, according to Shettima

Nigeria has the potential to be one of the wealthiest nations globally, thanks to its vast natural resources and economic capabilities, according to Vice President Kashim Shettima, who emphasized that there is no justification for the country's poverty.

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Shettima made these remarks on Wednesday during the Agric, Development and Investment Summit in Abuja, where he delivered the keynote address and highlighted the country's prospects for growth.

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The Vice President cited Indonesia's success in the oil palm sector as a prime example of how targeted investments in agriculture can yield substantial national wealth, noting that Indonesia earned approximately $25 billion from crude palm oil exports in 2025.

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This revenue, Shettima pointed out, surpassed Nigeria's earnings from crude oil exports, with Indonesia generating this income from just 53 million tons of crude palm oil, while exporting a mere 32 million tons.

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Shettima also underscored the economic opportunities present in the Niger Delta, describing the region as the world's third-largest delta, with vast potential for mariculture, including fish farming and the cultivation of species such as salmon, tuna, and lobsters.

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The Vice President emphasized that the Niger Delta is endowed with resources suitable for mariculture, including fish farming and the cultivation of high-value species like salmon, tuna, and lobsters.

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According to Shettima, the effective development of Nigeria's agricultural and marine resources could transform the nation's economy and significantly improve the livelihoods of its citizens.

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Shettima reiterated that Nigeria has no reason to be poor, given its immense potential, stating that certain regions of the country have the capacity to generate substantial wealth, where investments can yield tremendous returns.