WTO chief says effective project delivery and maintenance not higher spending alone are key to unlocking Nigeria’s economic potential…….
Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has called on Nigeria to place greater emphasis on executing infrastructure projects and maintaining existing assets, warning that increased budgetary allocations alone will not deliver sustainable economic growth.
Speaking on Monday at the 2026 Delta State Economic and Investment Summit in Asaba, themed “Harnessing Our Strengths, Unlocking Our Potentials,” the former Minister of Finance said Nigeria must move beyond approving budgets and focus on ensuring projects are completed, maintained and managed efficiently.
According to her, the country’s natural and financial resources can only translate into meaningful development when backed by effective implementation and long-term asset management.
“Endowments alone do not create value, and budgetary allocations by themselves do not build roads or guarantee proper maintenance,” she said, stressing that execution remains the true measure of development.
Okonjo-Iweala expressed concern over what she described as Nigeria’s weak maintenance culture, noting that preserving existing infrastructure is just as important as constructing new projects.
She identified efficient ports, stronger digital infrastructure and lower trade costs as critical areas requiring sustained investment if Nigeria is to improve its competitiveness and attract more investment.
The WTO chief also pointed to recent improvements in Nigeria’s macroeconomic environment, including efforts to stabilise the exchange rate and reduce inflation, saying consistent implementation of such reforms would improve the economic outlook for states across the federation.
She argued that Nigeria’s economic growth should not remain concentrated in traditional commercial centres such as Lagos, Kano and Port Harcourt, adding that Delta State has the potential to emerge as another major business and industrial hub.
According to Okonjo-Iweala, developing new centres of economic activity would help reduce pressure on existing cities while creating fresh opportunities for investment, job creation and regional development.
She advised the Delta State Government to maintain fiscal discipline by directing public resources towards productive capital projects capable of generating long-term economic returns rather than recurrent expenditure.
Commending the state’s proposed ₦1.664 trillion 2026 budget, she noted that its emphasis on capital expenditure could strengthen infrastructure development and accelerate economic growth if effectively implemented.
Okonjo-Iweala also threw her support behind Delta State’s plan to establish Special Economic Zones (SEZs), describing them as one of the most effective industrial policy tools available to governments seeking to attract investment despite limited fiscal resources.
She explained that properly planned SEZs enable governments to concentrate infrastructure, regulatory support, skilled labour and business services within designated locations, creating an environment that encourages manufacturing and private sector investment.
The WTO Director-General added that Delta State’s vast natural gas resources provide a strong foundation for developing successful industrial parks, particularly with continued collaboration from the Federal Government.
However, she cautioned that the success of such economic zones would depend on the availability of reliable electricity, quality transport infrastructure, water supply, digital connectivity and efficient regulatory institutions capable of supporting investors over the long term.
