Nigeria’s former Finance Minister, Ngozi Okonjo-Iweala has been appointed as the first female and first African Head of World Trade Organization (WTO).
In a swift reaction, the Federal Government says the selection of Dr Ngozi Okonjo-Iweala as the Director-General (DG) of the World Trade Organisation (WTO) is the right choice that will do the organisation a lot of good.
Speaking at the WTO Special General Council Meeting in Geneva, the Minister of Industry, Trade and Investment, Otunba Adebayo said the process of selection was not only transparent but the credit for the resulting success must go to the entire membership. “Nigeria wishes to express her profound gratitude and deep appreciation to all the members, who one way or the other, assisted Dr Ngozi Okonjo-Iweala during the campaign period. Thanks also go to all the regional groupings in the WTO for granting audience and support during and after the exercise. “We also thank the WTO Secretariat staff, translators and the press who worked hard in supporting and providing updates to members and the general public on the Director-General selection process.”
Adebayo described Dr Okonjo-Iweala as one of the few on the global stage that has high recognition given the charismatic leadership qualities and proven records of excellence and integrity, along with international political connections. “We believe that the new Director-General will lead this organization to achieve its purpose and mandate.”
He assured that the new Director-General of WTO would not disappoint the organization and all those who worked to make the appointment a reality, saying, “You will find her as a servant-leader who will always listen to you and work with you to achieve a common purpose. Mr Chairman, Your Excellencies, may I take this opportunity to refresh our memories on the campaign promises made by Dr Ngozi having identified various challenges affecting the WTO as a multilateral organization, she shared her thoughts on possible solutions that would be brought on board for discussion, consideration and implementation to ensure that the full mandates and functions of the WTO are enforced under the highest expectations of members.’’
“She also assured that she would work hard, with the support of members, to uphold the image and integrity of the WTO as a multilateral institution that was established to serve members equally.
The minister explained that “new initiatives with the support of members will be introduced to source for more funds from other multilateral financial institutions to assist members in building their capacity to fully comply with their obligations and new trade initiatives in the WTO.
“Finally, Chair, Excellencies, we urge all members to give the new Director-General all the cooperation, support and solidarity that would be required for her to work to make WTO a truly outstanding multilateral institution.”
US President, Joe Biden, has been a strong supporter behind her candidacy shortly after the only other remaining competitor, South Korean Trade Minister Yoo Myung-hee, withdrew.
The system of selecting one of eight candidates to succeed him had been predicted to wrap up by November, but the administration of former US President Donald Trump blocked the consensus to appoint Okonjo-Iweala. The WTO also faced relentless attacks from Washington under Biden’s predecessor Donald Trump. Among other things, Trump brought the WTO’s dispute settlement appeal system to a grinding halt in late 2019.
Twice Nigeria’s finance minister (2003-2006 and 2011-2015) and its first female foreign minister in a two-month stint in 2006, Okonjo-Iweala is seen as a trailblazer in her West African homeland. A development economist by training with degrees from the Massachusetts Institute of Technology and Harvard, Okonjo-Iweala has also had a 25-year career as a development economist at the World Bank, eventually becoming its number two.
She is on the Twitter Board of Directors and chaired Gavi, the Vaccine Alliance.
The President of Nigeria, Muhammadu Buhari personally congratulate the former Minister of Finance and Coordinating Minister of the Economy, Dr Ngozi Okonjo-Iweala, on her election as Director-General of the World Trade Organization (WTO), bringing joy and more honour to the country.
In a statement released by Garba Shehu, Senior Special Assistant to the President (Media & Publicity) the president affirmed that as the Harvard-educated and renowned economist takes up another onerous task of service to the world and humanity, her track record of integrity, diligence and passion for development will continue to yield positive results and rewards to mankind.
President Buhari expressed his belief that Dr Okonjo-Iweala, “who over the years set major records of economic reforms in Nigeria as Minister of Finance, and later Minister of Foreign Affairs, will excel in her new position and validate the global mandate of repositioning and strengthening the multilateral institution for the greater good of all.”