Nigeria has a unique opportunity to “capture a sizeable chunk” of evolving global supply chains by actively courting investors and strengthening its industrial base, Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), declared on Wednesday during discussions at the World Economic Forum (WEF) in Davos.
Speaking at an event titled “From Scale to Capital: Financing Nigeria’s Role as Africa’s Digital Trade and Infrastructure Anchor” held at Nigeria House, the country’s first sovereign pavilion at the annual summit, Okonjo-Iweala underscored the changes in global trade dynamics driven by rising geopolitical tensions and the reconfiguration of supply chains.
Okonjo-Iweala explained that companies around the world are rethinking their sourcing strategies, particularly through approaches such as “China + 1,” which seek alternatives to a single dominant supplier, a trend that presents a window of opportunity for emerging markets like Nigeria.
“As you said, some good reforms are being pursued right now. I think they need to yield to job creation,” Okonjo-Iweala said in a clip shared by GLAZIA on X (formerly Twitter). “That was what I said to His Excellency — that we need to move from stabilisation to job creation, because that is where we are lacking.”
She noted that while the shift won’t “happen overnight”, efforts are underway to position Nigeria as an attractive destination for global capital.
Okonjo-Iweala urged Nigeria’s policymakers and business leaders to map out where the country’s competitive advantages lie and proactively develop strategies to attract investment. She stressed the need for an aggressive, targeted investment promotion drive that goes beyond Africa.
“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.”
Okonjo-Iweala called for deliberate outreach to global investors, from the United States to China and beyond, to persuade them to invest in Nigerian manufacturing and value-added industries.
In her remarks, the WTO chief highlighted several sectors where Nigeria could benefit from supply-chain realignment:
Renewable energy manufacturing, including solar panel production, to reduce dependence on imports.
Textile and fashion industries, encouraging localisation of production rather than importing finished goods.
Pharmaceuticals, which she described as another promising area Nigeria should prioritise for investment and supply-chain participation.
“Let’s build solar panels in Nigeria. We are importing, but we can also manufacture,” she said. “Pharmaceuticals, there is a chance there as well. These are some of the supply chains I would be attracting.”
Also speaking at Davos, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, highlighted the government’s focus on fiscal discipline and economic reforms as foundational to attracting foreign investment.
“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 told Bloomberg during Day 2 of #WEF26.
He emphasised that Nigeria’s policy direction is geared toward strengthening investor confidence and ensuring sustainable growth in a fragmented global economy.
The WEF platform, where global leaders discuss economic, political and social challenges, provides a stage for Nigeria to promote its reform narrative and attract international capital amid ongoing reshaping of global trade and investment flows.
Observers say that Nigeria’s participation in Davos, including Okonjo-Iweala’s remarks and the launch of Nigeria House, signals a renewed push by Abuja to take an active role in global economic discourse and position the country as a gateway for investment into Africa.
