Obi Advocates Lower Interest Rates, Security Measures to Drive Growth
Presidential candidate of the Nigeria Democratic Congress (NDC), Mr Peter Obi, has called for lower interest rates, urgent measures to address insecurity, curb corruption, and create a more business-friendly environment to drive entrepreneurship and economic growth.
Obi made the call on Saturday at This Generation Project 2026, the annual conference of Summit Bible Church in Abuja, themed “Thriving in the Marketplace”.
He said Nigeria’s vast agricultural potential remained underutilised because insecurity had prevented many farmers from accessing their farmlands.
“It is unfortunate that many farmers cannot go to their farms today because of insecurity. We must fight insecurity headlong.
“We cannot continue to have a situation where children cannot go to school and farmers cannot cultivate their land,” he said.
Obi argued that agriculture offered greater opportunities for wealth creation than crude oil, citing countries that had built prosperous economies through farming and food exports.
“We can make more money from agriculture than we make from oil. Our challenge is insecurity, and we must deal with it decisively,” he said.
The former governor of Anambra said entrepreneurship was central to economic growth and societal transformation, lamenting the growing preference for politics over productive enterprise in Nigeria.
According to him, no society can prosper when politicians are more successful and influential than entrepreneurs.
“Entrepreneurs create wealth and jobs, but today people are making money without producing anything,” he said.
Obi expressed concern over the plight of young Nigerians, saying many graduates were denied opportunities in spite of their talents and potential.
“We have some of the smartest young people in the world, but nobody gives them opportunities.
“When people don’t have opportunities, they don’t know what to do. Criminality grows when millions of people have no hope and nobody cares about them,” he said.
He identified corruption as a major obstacle to entrepreneurship and economic development, arguing that it undermines innovation, hard work and investment.
“Entrepreneurship can change society, but corruption destroys the environment needed for businesses to grow. It kills innovation and hard work because people see others making money the easy way,” he said.
Obi said the current lending environment was not conducive to business expansion, especially for small and medium-sized enterprises
“There is nothing wrong with borrowing, but borrowed funds must be invested productively.
“No economy can thrive with high interest rates. Banks must support businesses and help them grow,” he said.
He noted that many successful economies provide affordable credit to entrepreneurs, unlike Nigeria where businesses struggle to access financing.
The NDC candidate also advocated the revival of the apprenticeship system, stressing the need for successful entrepreneurs to mentor and empower younger generations.
“The apprenticeship model worked because successful people helped others become successful,” he said.
Obi further urged public office holders to embrace integrity and selfless service, saying greed and personal enrichment had contributed greatly to the country’s governance challenges.
According to him, public office should be about service and creating opportunities that enable citizens to build sustainable livelihoods.
In a welcome address, Senior Pastor of the church and convener of the conference, Andy Osakwe, said the marketplace encompassed business, careers and all forms of human endeavour involving interaction with people.
“God has called us to thrive in the marketplace because He has called us to a life of godly influence and impact.
“Thriving in the marketplace should not be viewed as a luxury but rather as a mandate for the body of Christ, and we must become much more proactive and intentional about this,” he said.
Other speakers at the event included Sam Odia, Chief Executive Officer of the Millard Fuller Foundation, and Tricia Olufemi-Olumide, Chief Executive Officer of TriciaBiz and Founder of Ziba Beach Resort. APC Unmoved by Obi’s Defection
