Delta can rival Lagos as Nigeria’s growth engine, says Okonjo-Iweala

Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, on Monday said Delta State has the potential to emerge as Nigeria’s next major industrial and economic hub alongside Lagos, urging the state to seize opportunities created by shifting global trade patterns to drive inclusive growth.

Speaking at the Delta State Economic and Investment Summit in Asaba, Okonjo-Iweala endorsed the Delta State Government’s newly announced investment fund of more than $100 million, describing it as a strategic initiative that would help de-risk investments and attract private capital to the state.

She said Delta possessed the key ingredients needed to become a leading industrial destination capable of strengthening Nigeria’s economy.

“I am convinced that Delta possesses the ingredients to become Nigeria’s next great industrial hub, standing alongside Lagos as an engine of the national economy. The emergence of a new growth pole here in Delta State would be good for Nigeria as a whole,” she said.

Commending Governor Sheriff Oborevwori’s investment drive, she added: “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 noted that global supply chain diversification had created fresh opportunities for countries and subnational governments that were prepared to attract manufacturing and investment.

“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 advised the state government to make Special Economic Zones the centrepiece of its industrialisation strategy, noting that such zones remained among the most effective tools available to governments with limited fiscal resources.

According to her, successful economic zones require reliable electricity, quality road and rail networks, water supply, digital connectivity and close collaboration with the Federal Government to attract investors.

She also urged the state to focus on a limited number of high-impact value chains rather than spreading scarce resources too thinly, expressing confidence that Delta could transform from a resource-dependent economy into a diversified, resilient and inclusive one.

Also speaking at the summit, the founding Chairman of Seplat Energy and Chairman of the Delta State Economic and Investment Summit, Mr Austin Avuru, outlined a roadmap for building a globally competitive Delta economy through maritime reforms, industrial parks and commercial agriculture.

He said the state must deliberately move away from traditional economic models by leveraging its natural and strategic advantages to attract sustained private-sector investment.

“Our goal is to create an environment that supports massive and sustained private-sector investment through deliberate, well-thought-out policies that truly improve the ease of doing business,” Avuru said.

Highlighting Delta’s maritime assets, he noted that the state has four seaports—Warri, Sapele, Koko and Burutu—as well as two interconnected airports linked by strategic road infrastructure, positioning it as a major logistics and commercial hub.

He called for the dredging of waterways leading to the Warri and Burutu ports to accommodate larger vessels, saying the move would significantly increase cargo traffic, create jobs and stimulate economic activity.

Avuru also advocated the establishment of about 30,000 hectares of strategic land banks to support large-scale commercial agriculture, particularly oil palm and cassava cultivation for food processing, exports and ethanol production.

He further urged the government to accelerate the development of industrial parks in Kwale and Koko by ensuring reliable gas supply, stable electricity and improved security, adding that the state’s second-term development agenda should focus on converting infrastructure investments into sustainable economic growth.