Peter Obi Urges Transformative Leadership for Africa at Commonwealth Trade and Investment Summit in London
London, April 8, 2025 — Peter Obi, 2023 Labour Party presidential candidate, delivered a compelling address at the 2025 Commonwealth Trade and Investment Summit in London, calling for a new era of leadership to unlock Africa’s vast potential in the global economy. Speaking on the topic “Africa’s Role in the New Global Economy,” Obi highlighted the continent’s opportunities and challenges amid recent disruptions caused by U.S. President Donald Trump’s trade policies, including new tariffs that have unsettled global markets.
The summit, hosted by the Commonwealth Enterprise and Investment Council (CWEIC), took place in a grand venue adorned with ornate architecture, featuring marble columns and chandeliers.
Obi emphasized Africa’s immense resources, noting that the continent holds 60% of the world’s arable land and 30% of its mineral resources, alongside a youthful workforce of over 1 billion people. Despite these advantages, he pointed out Africa’s stagnant global trade share of just 2-3%, according to the World Trade Organization (WTO), and a GDP per capita of $1,900—far below Asia’s $9,000. “Africa has been stagnant for more than two decades,” Obi stated, contrasting the continent’s potential with its current economic standing as the second-largest and most populous continent, with 1.5 billion people.
The Nigerian leader attributed Africa’s economic challenges to a lack of transformative leadership, urging a focus on productivity, innovative education, and healthcare to pull Africans out of poverty. He highlighted the continent’s agricultural potential, projecting that Africa’s food and agriculture market could grow from $280 billion 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 and a net exporter of food,” Obi said, emphasizing the need to scale up innovative production to meet global demands.
Obi also addressed the impact of global economic shifts, particularly following President Trump’s recent interventions, which have prompted many countries to take proactive measures to secure their economies. He urged African leaders to seize this moment to invest in the continent’s youthful human capital and create a skilled workforce capable of driving both regional and global development. “This is a junction for transformative change in Africa,” he declared. “It requires new thinking about leadership and a refocus on productivity.”
As Africa navigates a rapidly changing global economic landscape, Obi’s call for leadership that prioritizes productivity and human capital development offers a roadmap for the continent to assert its role in the new global economy. The Commonwealth Summit, with its focus on trade and investment, provided a fitting platform for such a vision, reinforcing the need for collaborative efforts to drive mutual prosperity across the Commonwealth and beyond.
