Delta can compete boldly with Lagos as Nigeria’s industrial hub, growth engine – Okonjo Iweala + Video

Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has posited that Delta State has the potential to rival Lagos as Nigeria’s growth engine if it strategically diversifies its economy, prioritizes key manufacturing sectors, and embraces digital transformation.

According to her, Delta State has the potential to become Africa’s next major industrial, manufacturing and investment hub if it successfully leverages emerging global trade opportunities and builds a competitive business environment.

Okonjo-Iweala made the position while delivering her keynote address at the Delta State Economic and Investment Summit 2026 in Asaba themed “Harnessing Our Strengths, Unlocking Our Potentials”.

The WTO DG said ongoing shifts in global supply chains, coupled with opportunities presented by the African Continental Free Trade Area (AfCFTA), have created a rare window for Delta to position itself as a preferred destination for international investment.

She further noted that Delta possesses many of the attributes investors seek, including strategic location, abundant natural resources, improving infrastructure and a growing pool of skilled labour.

She particularly commended the Delta State Government’s decision to establish a $100 million Viability Gap Fund to de-risk investments, describing it as a significant signal to private investors that the state is committed to translating investment pledges into bankable projects.

“The reason I came is because you take action. The fund you have just announced to de-risk investment is exactly the kind of thing that we need,” Okonjo-Iweala added.

According to her, changing global trade patterns have opened new opportunities for Delta and Nigeria.

“The world is looking for diversification. These opportunities were not available 10 or 15 years ago. The question is whether we will seize them or allow them to go elsewhere,” she said.

She urged the state government to make Special Economic Zones the centrepiece of its industrialisation drive.

“The World Bank has identified Special Economic Zones as one of the best available tools for governments with limited fiscal space.

“But successful zones require reliable electricity, roads, rail, water, digital connectivity and close collaboration with the Federal Government,” she stated.

Okonjo-Iweala also advised the state to prioritise a few value chains instead of spreading scarce resources.

“Identify two or three areas where Delta has strong comparative advantage. Focus on those and build the entire value chain—from production to processing, standards, finance and market access. That is how value is created.”

She identified the blue economy as another major opportunity, noting that “Nigeria imports about 573,000 metric tonnes of fish and fish products worth almost $866 million every year.

“Delta can become Nigeria’s blue economy hub. Build fisheries, cold chain facilities, port services and marine logistics.”

On the state’s fiscal position, she said: “Delta ranks among Nigeria’s best-performing states in debt sustainability.

“Keep the fiscal prudence because without it you will not be able to build the Delta State you want.”

Expressing confidence in the state’s future, she said: “Delta can transform itself from a resource-rich state into a diversified, inclusive and resilient economy.”

The Delta State Government has announced a $100 million, equivalent to N137.8 billion, as a Viability Gap Fund to de-risk private sector investments, pledging the speedy execution of agreements reached at the Delta State Economic and Investment Summit.

Governor Sheriff Oborevwori announced the fund yesterday, at the Summit, saying the initiative underscores his administration’s determination to translate investment commitments into tangible projects that would accelerate industrialisation and economic growth.

He said: “The government has set aside $100 million, approximately N137. 8 billion as Viability Gap Funding to de-risk new investments in the state.”

𝕤𝕖𝕖 𝕞𝕠𝕣𝕖/𝕨𝕒𝕥𝕔𝕙 𝕥𝕙𝕖 𝕧𝕚𝕕𝕖𝕠 𝕙𝕖𝕣𝕖