Director-General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala, urged Nigeria to target global investors aggressively. She said attracting supply chain relocations could create jobs, strengthen manufacturing, and reduce import dependence.Okonjo-Iweala made the remarks during a discussion titled “From Scale to Capital: Financing Nigeria’s Role as Africa’s Digital Trade and Infrastructure Anchor.” The event took place at Nigeria House amid the World Economic Forum in Davos.
She highlighted rising geopolitical tensions, particularly between the United States and China, as drivers of supply chain diversification. Many firms are now adopting “China+1” strategies to reduce risks linked to single-country dependency. Tariffs and trade restrictions also encourage companies to reconsider over-reliance on dominant suppliers.
“These disruptions present Nigeria with a unique chance to capture global supply chains,” she noted. Okonjo-Iweala stressed deliberate strategies to market Nigeria to investors worldwide. She encouraged attracting investments in sectors like renewable energy, fashion, and pharmaceuticals.
The WTO chief added, “Let’s manufacture solar panels and textiles locally. This will reduce imports and boost domestic production.” She emphasized mapping opportunities and creating policies that promote investment and job creation.
Also on the panel, Bank of Industry Managing Director Dr Oludapo Olusi supported these strategies. Meanwhile, Nigeria’s Finance Minister, Wale Edun, highlighted ongoing reforms, fiscal discipline, and efforts to raise the tax-to-GDP ratio to 18 per cent. He noted that disciplined policies will channel resources into social services, infrastructure, and sustainable growth amid global fragmentation.
