Okonjo-Iweala urges Niger Delta to establish Special Economic Zones

World Trade Organization Director-General Ngozi Okonjo-Iweala has called on Niger Delta state governments to establish Special Economic Zones (SEZs) to drive industrialization. Speaking virtually at the Niger Delta Economic and Investment Summit in Port Harcourt, Okonjo-Iweala noted that while the region has the potential to become a major industrial hub alongside Lagos, natural resources alone are insufficient for development.

She highlighted the need for improved project execution, better maintenance culture, efficient ports, enhanced digital infrastructure, and lower trade costs to attract investment. Okonjo-Iweala expressed concern over the region's current socio-economic indicators, noting that the situation for the local population is “far from satisfactory” due to high poverty levels and declining life expectancy.

Dr. Samuel Ogbuku, Managing Director of the Niger Delta Development Commission (NDDC), stated that the commission is committed to supporting Small and Medium-sized Enterprises (SMEs). He noted that the NDDC is working with the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) to grow regional businesses, supported by an initial N5 billion fund.