Former President Olusegun Obasanjo has declared that Nigeria has absolutely no reason to be poor, blaming the country’s lingering economic struggles on bad policies and an unhealthy obsession with foreign imports.

Speaking during an interview on C-Suite Cafe, hosted by Ikem Okuhu, the former leader questioned why a nation blessed with vast arable land, abundant water resources, regular rainfall, and a massive population continues to grapple with extreme poverty.

"Give me one reason why Nigeria should be poor," Obasanjo challenged. "Is it the land that we don’t have, or the desert that we are in, or the people that we don’t have, or the water that we don’t have, or the rain that we don’t have?"

Obasanjo sharply criticized government policies that favor importing goods that can easily be produced locally. He noted that these practices actively discourage local farmers and domestic manufacturers, killing the nation`s economic potential.

According to him, Nigeria’s massive agricultural potential must be treated as its primary economic asset to break the cycle of over-dependence on foreign products.

To illustrate his point, the elder statesman recalled a diplomatic trip to Guinea-Bissau during his tenure as African Union (AU) Chairman, alongside John Kufuor, the then-Chairman of ECOWAS.

He narrated how they observed wild bananas and abundant fruits growing naturally along the roads as they entered the country. Yet, upon arriving at their hotel, they were served imported apples and grapes.

"That’s part of the reason why we are poor," Obasanjo warned, pointing out that Nigeria is currently repeating the exact same mistakes by ignoring its local resources.