By Sunday Ani
The Senator representing Enugu North in the 10th Senate, Okey Ezea, has said that rural development is capable of unlocking the nation’s wealth potential and increasing the Gross Domestic Product (GDP) by 30 per cent in the next five years.
He, therefore, called on the Federal Government, as well as local and foreign investors, to shift attention to opportunities in Nigeria’s rural areas to fully harness their benefits.
Senator Ezea made this known at a forum in Nsukka, Enugu State, where he informed his constituents about some of his constituency projects and his legislative agenda for the New Year.
He said intentional rural development could lift the country’s GDP from the current World Bank estimate of around $1.315 trillion to $2 trillion or more if appropriate measures were taken to harness the hidden wealth in rural communities.
Currently, the contribution of Nigeria’s rural population—comprising more than 45 per cent of the country’s total population—to the national GDP is estimated at 25 per cent. However, Ezea believes that with the right policy actions, the country could gain much more from this segment of the population.
“When I speak of rural development, I do not mean the urbanisation of rural areas. On the contrary, I am referring to the exploitation of the abundant economic opportunities in our rural communities, the creation of wealth through deliberate policy actions, and the redirection of investment opportunities.
“There is much to gain from investing in the economic potential of rural areas. Unfortunately, the business community does not seem to recognise the vast opportunities available. Investments in agriculture and its extensive value chain, for instance, have the potential to lift millions of people out of poverty through job creation and the emergence of new market opportunities,” he stated.
On how this can be achieved, the senator said much depends on government priorities in providing enabling infrastructure and creating financial opportunities.
“One thing that governments at the federal, state, and local levels should do is to be deliberate about infrastructure development in rural areas. Roads are crucial, as are agricultural inputs. This is why, in my constituency projects, I am focusing on constructing rural farm roads, providing fertilisers, and supplying other farming essentials. Our interventions are meant to highlight what we believe should be national priorities.
“That is why I strongly believe the government at all tiers should focus on rural economic development by providing access roads, potable water, and other tangible and intangible amenities,” he said.
He urged the government to creatively provide financing opportunities for small-scale investors in rural areas at friendly rates. This, he stressed, would ensure that productive capital reaches rural entrepreneurs, reduce migration, and attract larger private-sector investors drawn by infrastructure and value chain opportunities—ultimately transforming the country’s economic fortunes within five years or less.
“If the government at all levels takes this seriously, the projected 30 per cent GDP increase could even be surpassed. Our traditional agricultural resources alone are enough to transform the economy if properly and profitably harnessed. If we fully develop the value chains of crops such as yams, cocoa, cassava, oil palm, and various fruits and grains that thrive across Nigeria, I see no reason why we wouldn’t become globally competitive in food production within a few years,” he concluded.