Former Labour Party presidential candidate, Peter Obi, delivered a keynote address at Liverpool John Moores University, at the invitation of The Liverpool Commonwealth Association.
Speaking on the topic, “Harnessing the Commonwealth Advantage for Trade and Investment,” Obi highlighted the vast potential the Commonwealth holds for economic development.
Dignitaries in attendance included Mr. Mark Blundell, Lord-Lieutenant of Merseyside and representative of King Charles in Liverpool, Richard Kemp, the Lord Mayor of Liverpool, Tim Nicholl, Vice-Pro Chancellor of LJMU Business School, Garth Dallas, Chair of the Liverpool Commonwealth Association, and Cllr Vanessa Boateng JP, General Secretary of the Liverpool Commonwealth Association.
Obi emphasized the unique advantages of the Commonwealth, home to over 2.5 billion people—nearly a third of the world’s population. With more than 60% of its population under the age of 30 and a combined GDP projected to rise from $13 trillion to $20 trillion by 2030, the Commonwealth provides an enormous opportunity for trade and development among member nations if its resources are properly utilized.
He stressed the importance of leveraging the Commonwealth’s youthful energy and innovation to drive collective advancement, sustainable development, and economic prosperity. By reducing trade barriers, encouraging investment, and deepening cooperation, Commonwealth countries could strengthen their economies and ensure that the success of one nation benefits others.
Obi also addressed Nigeria’s role within the Commonwealth, noting that the country’s trade contributions have remained low due to a lack of productivity. He called for a shift from a consumption-driven economy to a production-based one.
“To achieve this,” he said, “Nigeria must prioritize aggressive investment in agriculture, support micro, small, and medium-sized enterprises, implement favourable fiscal and monetary policies, and uphold the rule of law to attract investors. These actions will not only boost Nigeria’s economy but also help the country become a significant contributor to the Commonwealth’s economic growth.”
He concluded by reiterating his vision for the future, saying, “A new Nigeria is POssible!”
