By Francis Ajuonuma
The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has called on the Nigerian government to aggressively target global investors and relocate supply chains as a strategy to cut import dependence, expand manufacturing and boost job creation.
Okonjo-Iweala made the call at the Nigerian House during the ongoing World Economic Forum (WEF) in Davos, Switzerland.
Speaking at a panel discussion titled “From Scale to Capital: Financing Nigeria’s Role as Africa’s Digital Trade and Infrastructure Anchor,” the WTO chief said rising geopolitical tensions, particularly between the United States and China, were reshaping global trade and forcing companies to diversify their production bases.
She noted that many multinational firms were adopting “China+1” sourcing strategies to reduce single-country risks, while tariffs and trade restrictions had further encouraged companies to relocate or diversify production hubs.
According to her, the disruptions in global supply chains present a rare opportunity for Nigeria to position itself as a competitive manufacturing and investment destination.
However, she stressed that Nigeria must deliberately and strategically market itself to foreign investors to attract a meaningful share of the relocating supply chains.
“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.
She added that Nigeria must move beyond economic stabilisation to job creation, arguing that reforms currently being implemented should translate into tangible employment outcomes.
Okonjo-Iweala said Nigeria should actively court investors across major economies, including China, the United States and India, where much of the supply chain diversification is currently concentrated.
She identified renewable energy, textiles and pharmaceuticals as key sectors where Nigeria could reduce imports and build domestic manufacturing capacity.
“Let’s build solar panels in Nigeria. We are importing, but we can also manufacture. We have the renewable capacity,” she said, while also lamenting the growing dependence on imported textiles and pharmaceuticals.
The Managing Director of the Bank of Industry, Dr Oludapo Olusi, was also part of the panel discussion.
