By Rukevwe Odeh

Senior government officials, economic experts and business leaders have urged Nigeria’s state governments to take a more active role in driving economic development, arguing that the country’s recent economic reforms can only deliver meaningful benefits if states attract investments, expand local industries and create employment opportunities.

The call was made during the 2026 Delta State Economic and Investment Summit in Asaba, where participants stressed that while the Federal Government has introduced reforms aimed at stabilising the economy, sub-national governments must now translate those gains into improved living standards for citizens.

Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, said macroeconomic stability alone would not guarantee economic prosperity. According to him, state and local governments are best positioned to unlock development by promoting industries, encouraging investment and supporting businesses based on their comparative advantages.

He noted that recent reforms, including the unification of the foreign exchange market, fuel subsidy removal and tax policy changes, have increased revenue allocations to states and local councils, giving them greater capacity to fund infrastructure, settle salary and pension obligations, and improve public services.

Also speaking at the summit, Director-General of the World Trade Organization, Ngozi Okonjo-Iweala, encouraged Nigeria and other African countries to take advantage of changes in global trade patterns. She said businesses around the world are diversifying supply chains, creating opportunities for African economies that can provide stable investment environments.

Okonjo-Iweala further highlighted the benefits of the African Continental Free Trade Area (AfCFTA), describing it as a major opportunity for Nigeria to attract manufacturers and investors seeking access to a large regional market.

Vice President Kashim Shettima reaffirmed the Federal Government’s commitment to supporting states pursuing economic reforms under President Bola Tinubu’s administration. He described Delta State as a strategic investment destination with strong potential in agriculture, manufacturing, logistics, energy and the blue economy.

Shettima said Nigeria’s long-term prosperity cannot rely solely on crude oil revenues, stressing the need for economic diversification. He pointed to Delta State’s coastline, ports, gas resources and entrepreneurial population as assets capable of attracting both domestic and foreign investors.

Delta State Governor Sheriff Oborevwori unveiled a 100-million-dollar investment fund designed to stimulate business growth and attract new investments into the state, while other speakers called for greater collaboration between governments and the private sector to improve infrastructure, electricity supply and industrial development.

Participants agreed that sustained economic growth will depend on how effectively state governments leverage ongoing reforms to expand productive sectors, create jobs and improve the welfare of citizens.