By Our Correspondent
ASABA — Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has expressed confidence that Delta State has the potential to emerge as Nigeria’s next major industrial hub, capable of standing alongside Lagos as one of the country’s leading engines of economic growth.
She made the remark on Monday while delivering a keynote address at the Delta State Economic and Investment Summit in Asaba, where she also commended the state government’s decision to establish an investment de-risking fund valued at over $100 million to attract private sector investments.
Okonjo-Iweala said Delta possesses the necessary ingredients to become a leading destination for industrialisation and investment, noting that the emergence of another strong economic hub outside Lagos would significantly boost Nigeria’s overall economic development.
“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.
The WTO chief praised Governor Sheriff Oborevwori for taking practical steps to encourage investment, describing the newly announced fund as a strategic initiative that would reduce investment risks and improve investor confidence.
“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,” she stated.
Earlier, Governor Oborevwori said the investment fund forms part of his administration’s strategy to position Delta State as one of Nigeria’s most attractive destinations for local and foreign investors.
According to the governor, the initiative is designed to catalyse private sector participation, create jobs, promote industrialisation and stimulate sustainable economic growth through strategic public-private partnerships.
He reiterated his administration’s commitment to improving the ease of doing business by strengthening infrastructure, implementing investor-friendly policies and creating an enabling environment for businesses to thrive.
The governor said the summit provides a platform for investors, development partners, financial institutions and policymakers to explore business opportunities across key sectors of the state’s economy.
The three-day summit, themed “Harnessing Our Strengths, Unlocking Our Potentials,” is showcasing investment opportunities in agriculture, manufacturing, energy, infrastructure, solid minerals, technology, tourism, logistics and the Delta Special Economic Zone.
It also features high-level investment dialogues, policy discussions and business-to-business engagements aimed at attracting domestic and foreign direct investment into the state.
Participants at the summit include government officials, captains of industry, development finance institutions, international partners and prospective investors from within and outside Nigeria.