The Director General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has called on governments of Niger Delta states to establish Special Economic Zones (SEZs) as part of efforts to drive industrialisation and economic growth in the region.
Okonjo-Iweala made the call during the inaugural Niger Delta Economic and Investment Summit held at the Obi Wali International Conference Centre in Port Harcourt, Rivers State.
She said the Niger Delta possessed the necessary ingredients to emerge as Nigeria’s next major industrial hub, capable of standing alongside Lagos as an engine of national economic growth.
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The WTO Director General, however, noted that abundant natural resources alone could not guarantee development, stressing the need for improved project execution, a stronger maintenance culture, efficient ports, better digital infrastructure and reduced trade costs.
“The situation of the Niger Delta people is far from satisfactory. The region needs to try and do better,” Okonjo-Iweala said, urging stakeholders to leverage the region’s resources and strategic location to attract investments.
She further noted that the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) could take the lead in attracting investors and positioning the region as a major trade hub.
Also speaking, the Managing Director of the Niger Delta Development Commission (NDDC), Dr Samuel Ogbuku, said the NDCCITMA was helping to advance the Commission’s vision of growing businesses in the region through an initial ₦5 billion fund.
Ogbuku identified the people of the Niger Delta, particularly their human resources, as the region’s greatest asset, stressing the need to build their capacity to drive sustainable economic growth.
He advocated greater collaboration among the Niger Delta states and the establishment of a regional think tank to generate ideas and develop strategies for industrialisation.
According to Ogbuku, the states could jointly develop critical infrastructure, including power stations, rail lines and regional roads, to promote economic integration and attract global investors.
Ogbuku also expressed concern over capital flight from the region, noting that international companies operating in the area often benefited from its resources without providing adequate employment opportunities and other economic benefits for the people.
The Chairman of the NDDC Governing Board, Chiedu Ebie, commended Niger Delta stakeholders for coming together to develop a new roadmap for regional economic development.
He gave assurance that the NDDC would collaborate with state governments and other stakeholders to prevent duplication of projects.
The summit’s keynote speaker, Aigboje Aig-Imoukhuede, urged the Niger Delta elite to move beyond lamentation and develop a clear development compass.
“We need to move from a rent economy to a regional and productive economy,” Aig-Imoukhuede stressed.
