Okonjo-Iweala urges Nigeria to aggressively target investors amid global supply chain shifts
WTO Director-General Dr Ngozi Okonjo-Iweala has urged the Nigerian government to aggressively pursue global investors and supply chain relocations to reduce import dependence and drive job creation. Speaking at a World Economic Forum panel in Davos on Wednesday, January 17, she highlighted opportunities created by rising geopolitical tensions between the US and China, which are forcing companies to diversify beyond Asia.
Okonjo-Iweala noted that while diversification is currently moving within Asia to countries like India, Nigeria can attract a significant share by showcasing itself as a worthy investment destination. She identified solar panel manufacturing, textile production, and pharmaceuticals as key sectors where Nigeria can build local capacity. "Every time I buy a piece of wax, I check to see where it's made," she said, emphasizing the need to produce textiles locally rather than importing.
The WTO chief stressed that recent economic reforms must now yield job creation, moving from stabilization to growth. She called for deliberate strategies to target investors in China, the US, and other markets. The panel, titled "From Scale to Capital: Financing Nigeria's Role as Africa's Digital Trade and Infrastructure Anchor," also included Bank of Industry Managing Director Dr Oludapo Olusi.
To join: Simply click on the link below & turn on notifications to get the latest updates