WTO DG Okonjo-Iweala urges Nigeria to attract global investors, diversify supply chains, boost manufacturing, and create jobs

Dr Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation (WTO), has called on Nigeria to actively target global investors and supply chain relocations to create jobs, strengthen manufacturing, and reduce import dependence.

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Speaking at the “From Scale to Capital: Financing Nigeria’s Role as Africa’s Digital Trade and Infrastructure Anchor” session held at Nigeria House during the World Economic Forum in Davos, Okonjo-Iweala highlighted the opportunities arising from geopolitical tensions and global supply chain diversification.

“Some good reforms are being pursued, but they need to yield job creation. We need strategies to map opportunities and attract investors from the US, China, and elsewhere,” she said.

She stressed that Nigeria must deliberately showcase itself as a worthy investment destination and leverage current shifts in global sourcing, including “China+1” strategies, to capture production hubs in textiles, solar panels, pharmaceuticals, and other sectors.

“Let’s build solar panels in Nigeria rather than importing. In fashion, let investors help manufacture locally. Pharmaceuticals also present opportunities for supply chain localisation,” Okonjo-Iweala added.

Dr Oludapo Olusi, Managing Director of the Bank of Industry, was also part of the panel discussion.

Meanwhile, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, told Bloomberg that the country is prioritising fiscal discipline, reform credibility, and investment attraction amid global economic fragmentation.

He said the government aims to raise the tax-to-GDP ratio to 18 per cent while directing resources into infrastructure and social services.

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Okonjo-Iweala’s remarks underscore the importance of proactive investment strategies and local manufacturing in Nigeria’s bid to deepen economic resilience and create employment opportunities in a shifting global trade landscape.