Peter Obi, the Labour Party’s Presidential Candidate in the 2023 elections, has shared strategies for African countries to navigate and prosper under the disruptive trade tariffs imposed by former U.S. President Donald Trump.
During his speech on Tuesday in London at the 2025 Commonwealth Enterprise and Investment Council (CWEIC) Trade and Investment Summit, Obi addressed the topic “Africa’s Role in the New Global Economy.” He urged African leaders to harness the continent’s immense potential, particularly its youthful workforce of over a billion people.
This statement was issued by Ibrahim Umar, spokesperson for the Peter Obi Media Reach (POMR), in Abuja.
Obi, who previously served as the Governor of Anambra State, emphasized that Africa must focus on developing a skilled workforce to boost both continental and global economic productivity.
He stated, “The conversation around Africa’s role in the global economy is crucial given the vast opportunities and untapped potential within Africa. When fully harnessed, Africa’s resources can create a significant impact not only within the Commonwealth but globally.”
He noted that President Trump’s trade policies had disrupted many long-standing economic norms, prompting countries around the world to take proactive steps to secure their economies. However, he observed that Africa has yet to take similar measures.
Despite its potential, Africa’s share of global trade remains at a mere 2-3%, with its global GDP share hovering around 3%. Africa’s GDP per capita is notably lower than other regions, such as Asia, where it stands at approximately $9,000, compared to Africa’s $1,900.
Obi pointed out, “Africa’s share in global trade and GDP has stagnated for more than two decades. This is in stark contrast to the fact that Africa is the second-largest and most populous continent, with over 1.5 billion people.”
The former governor further highlighted Africa’s advantages, such as a youthful, dynamic workforce, abundant natural resources, and vast agricultural land. He noted that Africa possesses over 60% of the world’s arable land and about 30% of global mineral resources.
He added, “While Africa did not see a significant economic transformation during globalization 2.0, it is essential for the continent to rise and take decisive actions to profit from the emerging global trade system that will follow the Trump presidency.”
According to Obi, Africa’s agricultural sector offers a significant opportunity for economic growth, projecting that the market will grow from $280 billion annually to over $1 trillion by 2030. “With agriculture at the core of Africa’s economic transformation, the continent has the potential to become a global agricultural powerhouse, contributing significantly to the new global economy,” he said.
Obi further emphasized that the continent needs leadership that can shift priorities and increase productivity to enter higher-value industries. He pointed to evidence of successful, well-governed African countries as examples of what is possible when the right leadership and strategies are in place.
“This is a time for transformative change in Africa. It requires new leadership that focuses on building productive capacity, particularly in education and healthcare, to lift Africans out of poverty,” he added.
The former Anambra State governor concluded, “Africa must embrace new thinking and leadership focused on upgrading its productive capacities. We need to focus on the human capital development and productivity needed to compete in the global economy.”
