Okonjo-Iweala, Aig-Imoukhuede decry N’Delta resource woes amid $160bn returns

Leaders and stakeholders from the Niger Delta have expressed concerns about the region's inability to translate its vast resource wealth into tangible development, despite receiving approximately $160 billion in federal allocations and other interventions over the past 27 years. This was highlighted at the ongoing Niger Delta Economic and Investment Summit 2026, organized by the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture in Port Harcourt, Rivers State.

Access Holdings Plc Chairman, Aigboje Aig-Imoukhuede, emphasized that the region was facing a "conversion problem" and that natural resources alone did not create prosperity. He stressed that institutions, infrastructure, skills, and enterprise were necessary to convert these resources into sustainable prosperity. Similarly, Director-General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala, pointed out that the region's development indicators remained concerning, with 24 million people, representing about 48% of the estimated 50 million population, living in multidimensional poverty.

Aig-Imoukhuede delivered the keynote address at the summit, revealing that the Niger Delta had received an estimated $160 billion in cumulative resources since 1999, despite the lack of commensurate development. He argued that while the region boasted abundant hydrocarbon reserves, extensive coastlines, fertile land, urban centers, ports, universities, entrepreneurs, and a young population, it needed a development and investment compact to harness these assets for long-term growth.

Dr Okonjo-Iweala called for the private sector to lead efforts to address the region's challenges, advocating for investment in areas such as critical minerals, agriculture, and the coastal economy. She suggested focusing on minerals like kaolin, silica, clay, and bentonite, as well as processing the region's agricultural resources into high-value products.

The Niger Delta Development Commission Managing Director, Dr Samuel Ogbuku, highlighted the summit as an opportunity for the region to rethink its economic future and revive its Chamber of Commerce, which aims to bridge the gap between the Commission, government institutions, businesses, and local communities.