The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has called on Nigeria to deliberately target global investors and relocating supply chains as a strategy to create jobs, deepen manufacturing capacity and reduce import dependence.
She made the remarks on Wednesday in a short video clip shared by GLAZIA on its X handle, from a discussion titled “From Scale to Capital: Financing Nigeria’s Role as Africa’s Digital Trade and Infrastructure Anchor,” held at Nigeria House during the ongoing World Economic Forum in Davos.
Rising geopolitical tensions, particularly between the United States and China, have accelerated global supply chain diversification, with many firms adopting “China+1” sourcing strategies to reduce single-country risk. Tariffs and trade restrictions have further encouraged companies to reconsider reliance on dominant suppliers, prompting the relocation or diversification of production hubs.
Okonjo-Iweala said these global shifts present a significant opportunity for Nigeria, but stressed that the country must be proactive and strategic in positioning itself to attract investment.
“As you said, some good reforms are being pursued right now. I think they need to yield to job creation,” she said. “We need to move from stabilisation to job creation, because that is where we are lacking. It is not going to be overnight, but they are moving in the right direction.”
She urged Nigerian policymakers to identify and map areas of opportunity, while intensifying efforts to showcase the country as an attractive investment destination.
“What I would like to see is a continued effort to attract investment into the country, because there is an opportunity now to attract these supply chains,” she said. “Everything we can do to showcase Nigeria as a country worthy of investment is what we should be doing.”
According to the WTO chief, Nigeria should adopt deliberate strategies to court investors globally, including from China and the United States, noting that while supply chain diversification is occurring, much of it remains within Asia.
“We should attract a sizeable chunk of that. I’m not saying all,” she added.
Okonjo-Iweala highlighted specific sectors where Nigeria could benefit from local manufacturing, including renewable energy, fashion and pharmaceuticals.
“Let’s build solar panels in Nigeria. We are importing, but we can also manufacture. We have the renewable capacity,” she said. “In fashion, let them come to invest. Every time I buy a piece of wax textile, I check where it’s made. Many of the shiny new textiles we are wearing now are not made in Nigeria; a lot of them are imported.”
She also pointed to pharmaceuticals as another key sector where Nigeria could attract supply chain investments and build domestic production capacity.
The panel session also featured the Managing Director of the Bank of Industry, Dr Oludapo Olusi.
Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, in an earlier interview with Bloomberg on Day Two of the World Economic Forum 2026, said Nigeria is prioritising discipline, reform credibility and sustained dialogue amid increasing global fragmentation.
“The aim in the short term is to get the tax-to-GDP ratio up to 18 per cent and channel resources into social services and infrastructure,” Edun said.
He reaffirmed Nigeria’s commitment to fiscal discipline, attracting investment and leveraging its economic potential to achieve sustainable growth in a rapidly changing global environment.
