On May 31, 2025, Mr. Peter Obi, former Governor of Anambra State and Labour Party’s 2023 presidential candidate, addressed the Africa Business Club at the London Business School.
The event, themed “From Promise to Prosperity: Charting Africa’s Development with Political Will and Vision,” explored strategies for unlocking Africa’s vast potential through effective governance.
In his remarks, Obi challenged the widespread perception of Africa as a poor continent, asserting instead that the continent’s issue lies in the mismanagement of its immense natural and human resources.
“Africa is not poor; it is poorly managed,” Obi declared. “We hold about 30% of the world’s known mineral reserves, over 60% of the planet’s uncultivated arable land, and the highest solar energy potential globally—yet we still face energy poverty.”
He highlighted Africa’s demographic advantage, noting that more than 60% of the continent’s 1.4 billion people are young and productive. By 2050, 40% of the world’s youth population will be African—a powerful asset, he said, if harnessed correctly.
However, he pointed out the stark contrast between Africa’s promise and its current reality: widespread poverty, insecurity, and unemployment, which he blamed on a failure of leadership. “While Asia contributes over 35% of global GDP, Africa contributes less than 3%, largely due to differing leadership priorities,” he observed.
Obi called for urgent investment in education, healthcare, food security, productivity, and poverty reduction. He emphasized the need for responsible governance, reduced wasteful spending, and policies centered on human development.
“Africa doesn’t lack potential. What we lack is purposeful, accountable, and competent leadership,” he concluded. “To transition from promise to prosperity, we must prioritize leadership marked by competence, character, capacity, compassion, and integrity.”
Reaffirming his long-standing vision, Obi ended on a hopeful note: “A new Nigeria and Africa are POssible.”
