The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has urged the Nigerian government to strategically target global investors and take advantage of shifting supply chains to reduce import dependency, boost local manufacturing, and create jobs.
She made the remarks on Wednesday at Nigeria House during the ongoing World Economic Forum in Davos.
Speaking at a panel discussion titled “From Scale to Capital: Financing Nigeria’s Role as Africa’s Digital Trade and Infrastructure Anchor,” Dr. Okonjo-Iweala highlighted that rising geopolitical tensions, particularly between the United States and China, have accelerated the diversification of global supply chains.
The panel also featured Dr. Oludapo Olusi, Managing Director of the Bank of Industry.
“Companies are increasingly adopting China+1 sourcing strategies to mitigate risks associated with single-country dependency, though China remains deeply embedded in many global value chains,” she said.
She added that tariffs and trade restrictions have encouraged firms to reconsider their reliance on dominant suppliers, creating opportunities for production relocation and diversification. According to her, Nigeria can leverage this moment to capture a portion of global supply chains, but doing so requires deliberate marketing to potential investors.
“As I told His Excellency, reforms are ongoing, but they must translate into job creation,” Okonjo-Iweala said. “We need to move from stabilisation to employment generation. This won’t happen overnight, but progress is being made. The government must map out where opportunities exist and actively pursue them.
“Everything we do should showcase Nigeria as an attractive investment destination. Strategies must be deliberate—whether going to China, the US, or other regions—to bring investors here. While supply chain diversification is happening, much of it remains within Asia, with India as a key destination. Nigeria should aim to capture a significant share of this movement.”
She pointed to specific sectors with high potential, saying, “Let’s build solar panels in Nigeria. We currently import them, but we have the capacity to manufacture domestically. In fashion, investments can help produce textiles locally instead of importing them. Every time I buy wax fabric, I check its origin. We should aim to produce these at home.”
Okonjo-Iweala also highlighted the pharmaceutical sector as a promising area for investment, noting, “Pharmaceuticals present another supply chain opportunity. These are sectors Nigeria should actively target to attract investment and reduce import reliance.”
