Peter Obi yesterday blamed “failure of leadership” for extreme poverty in Africa. Speaking at the London Business School, hosted by the institution’s Africa Business Club, the former Anambra State governor identified mismanagement of the continent’s abundant natural resources for its underdevelopment. He said: “Africa is not poor, it is poorly managed.
“We are blessed with about 30 per cent of the world’s known mineral reserves and over 60 per cent of the world’s uncultivated arable land. “Sixty per cent of global solar energy potential is in Africa, yet we are still talking about energy poverty.”
The candidate of the Labour Party (LP) in the 2023 presidential poll highlighted Africa’s demographic advantage, noting that over 60 per cent of the continent’s 1.4 billion people are young and potentially productive.
He projected that by 2050, 40 per cent of the world’s youths will be Africans, describing it as an untapped asset waiting to be unlocked. Despite this, he lamented that Africa remains home to extreme poverty, insecurity, and high unemployment.
Obi said: “While Asia now contributes over 35 per cent of global GDP, Africa contributes less than 3 per cent. “This is largely because Asian leadership focuses on education, healthcare, production, and poverty reduction. In Africa, unfortunately, the reverse is often the case.”
To reverse this trend, Obi advocated for strategic investments in education, health, food security, and poverty alleviation, calling for a redirection of public resources away from wasteful spending toward human capital development. He said: “Africa doesn’t lack potential. What we lack is purposeful, accountable, and competent leadership.”
He emphasised that if Africa is to move from promise to prosperity, leadership must be grounded in competence, character, capacity, compassion, and integrity.
The event was attended by students, academics, and members of the African diaspora community, and formed part of the Africa Business Club’s ongoing efforts to foster dialogue on Africa’s development trajectory
