Nigeria Must Target Global Supply Chains to Create Jobs, WTO Boss Says at Davos

Nigeria has a window of opportunity to attract global supply chains and boost domestic manufacturing, the Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, said on Wednesday.

Speaking at an event hosted at Nigeria House during the World Economic Forum in Davos, Okonjo-Iweala urged Nigerian policymakers to focus on attracting foreign investors who are looking to diversify supply chains away from concentrated regions.

She noted that the current global shift in trade patterns, driven by geopolitical tensions and rising tariffs, has pushed many companies to reconsider their dependence on single countries. This shift, she said, presents Nigeria with a chance to position itself as a new manufacturing and export hub.

“Supply chain relocation is happening now. Nigeria should not just wait for it; we should actively pursue it,” Okonjo-Iweala said. “We need a clear strategy to market Nigeria to global investors and convince them that the country is ready for investment.”

The WTO chief highlighted sectors such as renewable energy, fashion textiles, and pharmaceuticals as areas where Nigeria could gain traction. She also stressed the need for Nigeria to move beyond economic stabilisation and focus on generating jobs through targeted investment.

Okonjo-Iweala suggested that the government should map out opportunities and aggressively market them to investors in key markets, including the United States and China. She acknowledged that diversification is largely shifting within Asia but argued that Nigeria could still secure a significant share of investment.

“Companies are already looking at alternatives. Nigeria should attract a sizeable chunk of that,” she said.

She also pointed to the potential for Nigeria to develop local manufacturing for products it currently imports, including solar panels and textiles, and called for policies that encourage investment in local production.

The panel discussion also featured Dr. Oludapo Olusi, Managing Director of the Bank of Industry, who supported the view that strategic investment could drive growth and industrialisation.

Earlier at Davos, Nigeria’s Finance Minister and Coordinating Minister of the Economy, Mr. Wale Edun, told Bloomberg that the country’s focus remains on fiscal discipline, improving revenue generation, and sustaining reforms to attract long-term investment.

Edun said Nigeria is working to raise its tax-to-GDP ratio to 18% to fund infrastructure and social services, while maintaining stability amid a fragmented global economy.