World Trade Organization Director-General Ngozi Okonjo-Iweala said Monday that Nigeria’s development is being held back not by a lack of resources or funding but by weak execution and poor maintenance of infrastructure.
Speaking as keynote speaker at the Delta State Economic and Investment Summit in Asaba, Okonjo-Iweala said budgetary allocations alone would not translate into development without effective execution and proper maintenance of infrastructure. “The fact is that endowments alone do not add value. Budgetary allocations alone do not lead to new roads or good maintenance,” she said, adding: “We lack a maintenance culture in the country. I have to say that. I am Nigerian, but we need that.”
She said execution is what matters, and successful execution requires focus and prioritization, and pointed to improved ports, digital infrastructure and lower trade costs as critical areas requiring urgent attention if Nigeria is to enhance its competitiveness and attract greater investment.
Okonjo-Iweala also praised recent federal efforts to stabilize the exchange rate and curb inflation, saying continued macroeconomic stability would strengthen the growth prospects of Nigeria’s states. She said Delta State possesses the ingredients to become Nigeria’s next great industrial hub, standing alongside Lagos as an engine of the national economy, and endorsed the state government’s newly announced investment fund of more than $100 million as a step toward de-risking private investment.
She urged Delta’s government to maintain fiscal discipline, saying public resources should be directed toward productive investment rather than recurrent or wasteful spending.
