Vice President Kashim Shettima has said Nigeria possesses all the resources needed to become one of the world’s wealthiest nations if its agricultural and maritime sectors are fully developed.
Speaking on Wednesday at the Niger Delta Agricultural Development and Investment Summit in Abuja, Shettima declared, “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.” He said Nigeria’s vast natural endowments remain largely underutilised despite their enormous economic value.
The Vice President cited Indonesia’s success in generating about $45 billion from crude palm oil exports in 2025, noting that the country earned more from palm oil than Nigeria made from crude oil. He urged Nigeria to unlock the economic potential of oil palm cultivation, particularly in the Niger Delta.
Shettima also highlighted the region’s maritime resources, saying investments in mariculture, including fish farming, shellfish and crustacean production, could create jobs and significantly boost the economy.
Using cassava as another example, he noted that although Nigeria produces far more cassava than Thailand, it earns far less due to poor yields and limited value addition, stressing the need to improve productivity and processing to maximise the country’s agricultural potential.