Former Securities and Exchange Commission (SEC) Director-General and Founder of Oxford Global Think Tank, Arunma Oteh, has called for urgent action to mobilise long-term capital, accelerate infrastructure development, and decentralise the management of Nigeria’s mineral resources to unlock sustainable growth.
Speaking at the Oxford Global Think Tank Leadership Conference in Abuja, Oteh emphasised that Nigeria’s economic potential can only be realised if the country creates an environment that attracts “reasonably priced, long-term, patient capital” for both government and private sector development.
Oteh highlighted Nigeria’s infrastructure deficit as a major barrier to growth, citing data from China that invested about 24% of its GDP in infrastructure, compared to Nigeria’s 4-5%.
She stressed that Nigeria needs to increase its investment in infrastructure to at least 12% of GDP to bridge the gap.
Oteh commended some recent government initiatives but noted that both the Central Bank and the Ministry of Finance must “scale up” their efforts to raise capital that supports small businesses and large-scale public works.
She highlighted that small businesses need affordable financing, and the government needs to expand its capacity to invest in roads, power, and logistics to move goods to markets.
Oteh also noted the importance of diversifying Nigeria’s economy through its mineral wealth, pointing out that the country possesses at least 40 commercially viable minerals that remain underexploited.
She urged the government to decentralize the sector so that each state can develop and benefit from its natural resources.
On leadership, Oteh emphasised that Nigeria’s transformation requires leaders with character, compassion, competence, and courage.
She urged the next generation of Nigerian leaders to embody these values in public service and business, and called for collective action from both public and private sectors to invest in the nation and create opportunities for everyone.
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