Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization (WTO), has called on Nigerian governors to adopt reforms that will drive economic growth in their respective states.

Speaking at the induction program of governors-elect organized by the Nigeria Governors Forum (NGF) in Abuja, Okonjo-Iweala highlighted the fiscal, debt, and monetary policy challenges facing the country.

One area of concern she raised was the generation of internal revenue by states.

She pointed out that only a few states are making significant efforts to increase their internally generated revenue (IGR).

Citing data from the National Bureau of Statistics and BudgIT, she noted that a majority of states heavily rely on federal transfers for revenue, with monthly allocations from the Federation Account Allocation Committee (FAAC) accounting for over 70% of revenue in 13 states.

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Okonjo-Iweala stressed the importance of transparency and accountability, urging governors to share information about FAAC allocations, IGR collection, and expenditure with their citizens.

She emphasized the need for careful management of debt profiles, controlling expenditures, and prioritizing the payment of salaries, pensions, and other essential services.

Referring to her book, ‘Fighting Corruption is Dangerous,’ she highlighted that some Nigerian states have economies larger than entire African countries, and with proper governance, these states can achieve higher growth rates.