Increased public spending alone cannot ensure sustainable growth, according to Ngozi Okonjo-Iweala, Director-General of the World Trade Organization, who has encouraged Nigeria to change its focus from budget allocations to efficient execution and upkeep of infrastructure.
Speaking on Monday at the 2026 Delta State Economic and Investment Summit with the subject “Harnessing Our Strengths, Unlocking Our Potentials,” the former Nigerian finance minister stated that while investing in vital infrastructure required to spur growth, the nation must strengthen its maintenance culture.
She claims that without effective implementation and long-term asset management, the availability of natural and financial resources is insufficient.
“Endowments don’t add value by themselves. Budgetary allotments by themselves do not result in new roads or proper upkeep, according to Okonjo-Iweala.
She bemoaned the nation’s poor maintenance culture and emphasized that maintaining current infrastructure is just as crucial as building new developments. In order to increase Nigeria’s competitiveness, she cited upgraded ports, enhanced digital infrastructure, and reduced trade costs as critical areas that need ongoing effort.
“The nation lacks a maintenance culture. We require upkeep. We require reduced trade costs as well as improved ports and digital infrastructure. What counts is execution, and effective execution necessitates concentration. Setting priorities is necessary, she stated.
Okonjo-Iweala also highlighted changes in Nigeria’s macroeconomic environment, including the Federal Government’s efforts to stabilize the currency rate and reduce inflation, claiming that if these reforms are maintained, they will boost states’ economic prospects.
She stated that Nigeria will gain from creating more economic growth hubs outside of Lagos, Kano, and Port Harcourt, pointing out that Delta State might become a significant commercial hub that would relieve pressure on the nation’s current business hubs.
The head of the WTO advised the Delta State Government to maintain fiscal restraint and make sure public monies are allocated to profitable ventures that promote sustained economic expansion rather than recurrent or unnecessary expenditures.
She praised the focus on capital expenditure in the state’s planned N1.664 trillion budget for 2026, stating that greater infrastructure spending might put Delta on a more robust growth trajectory.
Additionally, Okonjo-Iweala supported the state’s proposal to create Special Economic Zones, characterizing them as one of the best industrial policy instruments accessible to governments with constrained financial resources and comparatively tiny domestic markets.
She clarified that well-planned SEZs enable governments to concentrate skilled labor, infrastructure, regulatory changes, and business support services in specific areas, fostering an environment that draws manufacturing and private investment.
She claims that Delta’s plentiful gas resources offer a solid basis for the prosperous construction of industrial parks, especially when the Federal Government is involved.
She emphasized, however, that these zones can only prosper with dependable electricity, high-quality roads, rail connectivity, water supply, digital infrastructure, and effective regulatory organizations—all of which call for ongoing government cooperation.
