Yemisi Izuora
Nigeria said it has recognized the potential impact of sustainable energy distribution across critical industries as a sure way of reducing poverty through job opportunities.
Speaking as policymakers and business leaders converged in Davos, Switzerland, for the 2026 World Economic Forum (WEF), Sanyade Okoli, special adviser to Nigeria’s President on Finance and the Economy, identified electricity sector, as key pillar of the government’s social and economic intervention strategy, given its direct impact on households and businesses.
“There is a lot we are trying to do in the electricity sector,” Okoli said. “Businesses need electricity to ensure that productivity can increase and they can create jobs. Individuals also need electricity for daily living.”
She however noted that unreliable power supply continues to constrain economic activity and household welfare, making reform in the sector essential to broader prosperity.
Okoli, argued that poverty reduction and economic inclusion could only be achieved through sustained job creation in food security, power and housing, which in turn depends on investment.
She reiterated that employment remains the government’s foremost economic objective.
“If you are trying to reduce poverty, the only sustainable way of doing that is to create jobs. And to create jobs, you must attract investment, both local and international within a stable macroeconomic framework,” she said.
She added that boosting domestic food production would have a dual benefit.
“Food security and agriculture are critical,” she said. “They are multi-dimensional. Not only do they ensure that we have food on our plates, but they have been a huge driver of inflation. If we can stimulate food production, it will help to bring down inflation, and create jobs,” Okoli said.
According to Okoli, the administration is focusing on prioritising social and housing services that directly affect living standards, sectors capable of delivering immediate relief to citizens while supporting long-term growth and jobs.
She pointed to ongoing investments in housing and infrastructure as part of efforts to improve quality of life and stimulate employment.
“We are building homes, roads and other infrastructure,” she said, linking these investments to both social stability and economic opportunity.
Global supply chains are undergoing a structural shift as governments and companies move away from efficiency-driven models towards resilience-focused strategies, according to Børge Brende, president and Chief Executive of the World Economic Forum.
He said the world was transitioning from “just in time” supply chains, designed to minimise costs and inventory, to “just in case” systems that prioritise security, redundancy and reliability amid rising geopolitical tensions and economic uncertainty.
“Countries are strengthening supply chains and, in some cases, favouring trade with trusted partners,” Brende said.
Despite concerns about fragmentation, he stressed that global trade continues to expand.
“Trade is still growing at around three percent,” Brende said. “We are trading more this year than last year, which is important to remember.”
Alongside changes in trade patterns, Brende pointed to the rapid acceleration of investment in AI as a defining feature of the current economic cycle. He said global investment in AI reached approximately $1.5 trillion last year, with spending expected to remain at similar levels in the near term.
“That level of investment is continuing,” he said, adding that AI and related technologies could deliver a significant productivity boost
Speaking also,Saadia Zahidi, senior Managing Director, WEF, said that the emerging jobs landscape extends beyond technology to sectors like healthcare and education.
“This new economy is not just about AI. It is also shaped by geo-economics changes, the energy transition, sustainability and demographics”, she said. For instance, ageing societies need more healthcare. Growing societies need more education. These are among the drivers reshaping work”.
However, she warned that the transition would not be seamless.
“A quarter of all jobs will go through some kind of churn, and overall it is a net positive,” she said. A large number of jobs will be displaced, and a large number will be created.”
“There isn’t a one-to-one match between those who lose their jobs and those who can move into new ones. That will require massive reskilling and retraining, and many people will need to move into adjacent roles.”