Former Labour Party presidential candidate, Mr Peter Obi, has reaffirmed Nigeria’s position as Africa’s leading investment destination, projecting major economic gains for the country if competent and accountable leadership is enthroned.

Obi made the remarks on Monday, November 17, while speaking as a guest at the 4th Africa Day event organised by the Club des Entrepreneurs Monégasques en Afrique (CEMA) in Monaco. His presentation focused on Africa’s long-term prospects and Nigeria’s economic trajectory by 2050.

He emphasised that Africa “remains the continent of tomorrow,” noting that its biggest asset is its youthful population, with about 60 per cent made up of young people expected to drive productivity and innovation in the coming decades.

According to him, Nigeria’s population is projected to reach 320 million by 2050, with nearly 200 million citizens in their productive age bracket.

He stressed that with the right leadership—one defined by “capacity, compassion, character, and commitment”—the country could turn its demographic strength into economic prosperity.

“With competent leadership to faithfully and simultaneously implement the right developmental policies, while drastically reducing waste and corruption, Nigeria can achieve remarkable progress,” Obi said.

He outlined key sectors critical to the country’s future growth, including security, health, education, and poverty alleviation, arguing that a deliberate investment strategy in these areas would position Nigeria for sustained development.

“By investing strictly in critical areas of development… Nigeria will be able to grow from 2030 to 2050, reaching an economy of about $2 trillion and approximately $7,000 per capita,” he stated.

Obi added that maintaining this growth trajectory could enable Nigeria to meet Goldman Sachs’ projection of a $13 trillion GDP and a per capita income of about $30,000 by 2075.

He urged global investors at the Monaco gathering to look to Africa—especially Nigeria—as a strategic entry point into the continent, citing the immense opportunities ahead.

“I passionately urged all attendees to invest in Africa, especially Nigeria, as their gateway into the continent,” he said.

Reiterating his optimism, Obi concluded that “a new Nigeria is possible and indeed a new Africa is also possible.”

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