Despite all her great successes, Ngoo was once a babe. with all the puppy love that come with a chick who has just crossed the accepted age of maturity and setting off into the unknown world of marriage. Talk about being married to the right man, the bone of your bone and the flesh of your flesh. He will encourage and empower you. Obviously this is the secret of her success, a happy home.
That is what stuff true Igbo men are made of.
The World Trade Organization’s (WTO) General Council made double history by reaching consensus and agreeing to select Nigeria’s Dr. Ngozi Okonjo-Iweala as the organization’s seventh Director-General. The historic appointment therefore makes Dr. Ngozi Okonjo-Iweala the first woman and also the first African to ever be appointed to the position.
Dr. Okonjo-Iweala will start in her position as Director-General of WTO on 1 March 2021.
Hear her, “Trade is important for the 21st century, it is important for posterity and it is important for sustainable growth. the WTO is in the heart of this.
Choosing the Director general of the WTO should be on merit. If this person happens to be a women, great. if she happens to be and African, great. I hope it is a sign not only to the women and girls in my country but to the women and girls worldwide, that the world is ready and that the women can do it.
We want to rejuvenate the WTO to be the organization it needs to be for the 21st Century”
“I am honored to have been selected by WTO members as WTO Director-General. A strong WTO is vital if we are to recover fully and rapidly from the devastation wrought by the COVID-19 pandemic. I look forward to working with members to shape and implement the policy responses we need to get the global economy going again. Our organization faces a great many challenges but working together we can collectively make the WTO stronger, more agile, and better adapted to the realities of today,” said Dr. Okonjo-Iweala.
Africa’s turn to benefit
The selection of Dr. Okonjo-Iweala is an important moment for Africa. Important because the WTO is the only organization around the world that deals with matters relating to how different countries interact with each other when it comes to trade. As such, it is hoped that the new DG will facilitate and influence a more balanced international trading landscape for Africa.
Dr. Okonjo-Iweala’s selection didn’t come easily.
Before the election of Joe Biden and Kamala Harris as the President and Vice President of the USA, America, under the leadership of Donald Trump, was vocally opposing the appointment of Dr. Okonjo-Iweala. This is despite Dr. Okonjo-Iweala being the candidate that was mentioned as being the most likely to get consensus to become the Director-General as made in a statement to the WTO’s General Council on 28 October 2020.
The process for selecting a new Director-General was triggered on 14 May when former Director-General Mr Roberto Azevêdo informed WTO members he would be stepping down from his post one year before the expiry of his mandate. He subsequently left office on 31 August 2020.
The Lagos Chamber of Commerce and Industry has highlighted steps Nigeria needs to take in order to fully take advantage of the opportunities offered by the World Trade Organisation under the leadership of Dr Ngozi Okonjo-Iweala.
Global Reactions
The LCCI, in a statement on Monday, felicitated with Nigeria on the appointment of Okonjo-Iweala as the Director-General of WTO.
The Director-General, LCCI, Dr Muda Yusuf, said, “While the emergence of Dr Okonjo-Iweala as the new WTO Director-General is very gratifying and calls for celebration, there is a need to manage expectations around the outcomes for the Nigerian economy, given the numerous productivity and competitiveness issues the country is grappling with.
“Ultimately, these are the factors that would determine the benefits that would accrue to the economy from global trade.”
According to him, Nigeria needs to build capacity for international competitiveness of its products and services so as to benefit from the WTO.
He said, “Also imperative is the need to address trade facilitation issues, especially around port processes, ports infrastructures, international trade documentation, foreign exchange policies, trade policies and industrial policies. We need to promote local value addition and backward integration to strengthen competitiveness of our domestic industries.
“We must undertake reforms of our tariff policy in accordance with the principles of comparative advantage, which would enable the country to optimize opportunities in the global trade arena and enhance the citizens’ welfare.”
According to Yusuf, it is critical to develop an African Continental Free Trade Area strategy that would enable the country to leverage trade opportunities both continentally and globally.
“There is a need to improve on our strategy in managing the coronavirus pandemic ranging from ensuring compliance to safety protocols to vaccine procurement and distribution,” he saidThe LCCI DG said Okonjo-Iweala’s emergence came at a time when the global trading system was faced with numerous challenges, including supply chain disruptions precipitated by the coronavirus pandemic, rising protectionism and unilateralism, growing economic nationalism, and imposition of trade restrictions covering substantial amount of international trade, among others.
“Africa has peculiar challenges in the global trade arena. The continent is deeply integrated into the global supply chain and this underscores the low participation level of African economies in international trade,” he said.
According to him, it is very pertinent for African economies to build capacity within the continent in order to take advantage of the opportunities in global trade.
The oceans seemed to have united on Monday as high-ranking politicians from across the political spectrum struggled for space to rejoice at the confirmation of a former Minister of Finance, Dr Ngozi Okonjo-Iweala, as the first woman and African to be named the Director-General of the World Trade Organisation.
The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, quoted the President, Major General Muhammadu Buhari (retd.), as congratulating Okonjo-Iweala.
He quoted the President as saying that the development had brought joy and more honour to the country.
Shehu, in a statement, said, “On behalf of the Federal Government and all Nigerians, President Muhammadu Buhari warmly felicitates with former Minister of Finance and Economy, Dr Ngozi Okonjo-Iweala, on her election as Director General of the World Trade Organisation, bringing joy and more honour to the country.
“As the Harvard-educated and renowned economist takes up another onerous task of service to the world and humanity, the President believes her track record of integrity, diligence and passion for development will continue to yield positive results and rewards to mankind.
“The President joins family, friends and colleagues in wishing Dr Okonjo-Iweala well in her new endeavour.”
The Minister of Industry, Trade and Investment, Adeniyi Adebayo, in his speech on behalf of the Federal Government, delivered via Zoom at the Special General Council Meeting of the organisation in Geneva, Switzerland on Monday, said the process of selection was transparent.
He said the credit for the resulting success must go to the entire membership.
Adebayo was quoted in statement issued by his aide, Ifedayo Sayo, as saying, “Nigeria wishes to express profound gratitude and deep appreciation to all the members, who in one way or the other assisted Dr Ngozi Okonjo-Iweala during the campaign period.
“Thanks also goes to all the regional groupings in the WTO for granting audience and support during and after the exercise
The minister described Okonjo-Iweala as one of the few on the global stage that enjoyed high recognition in view of charismatic leadership qualities and proven records of excellence and integrity, along with international political connections.
The President of the Senate, Ahmed Lawan, in a statement by his media office, also congratulated Nigeria on the latest feat of its ‘great daughter’ on the international stage.
“With her latest feat, the former Nigerian Minister of Finance and Managing Director of the World Bank has again brought honour to Nigeria, Africa and women everywhere,” Lawan said.
The Governor of Delta State, Dr Ifeanyi Okowa, assured Okonjo-Iweala of the support of her home state and the entire country.
This was contained in a certified social media post by the governor.
Okowa said, “Over the years, we have all followed your growth and celebrated your noteworthy achievements. This is why, as you begin your new role at the helm of the WTO, I want you to know that you have the unwavering support of both your home state and your country.”
The Speaker, House of Representatives, Femi Gbajabiamila, and the minority caucus in the House also congratulated the new WTO boss.
Gbajabiamila, in a statement issued on Monday by his Special Adviser on Media and Publicity, Lanre Lasisi, said Okonjo-Iweala’s unanimous confirmation by the WTO was a testament to her years of experience in the financial sector both at home and abroad.
Gbajabiamila said with Okonjo-Iweala’s pedigree, he believed that she would take the WTO to enviable heights during her term as the DG.
The Minority Leader, Ndudi Elumelu, in a separate statement, said her emergence as DG of the WTO “has reinforced global confidence in international consensus and recognition of competence and proficiency over provincial considerations.
The Governor of Rivers State, Nyesom Wike, said the appointment of Oknonjo-Iweala to head the WTO was a beacon of hope for Nigeria.
A statement by Wike’s aide, Kelvin Ebiri, said, “The Rivers State Governor is confident that Dr Okonjo-Iweala, who has distinguished herself as a renowned economist, and contributed to the economic successes of many nations, will usher in a new era in the WTO.”
Similarly, the Edo State Governor, Mr Godwin Obaseki, said Okonjo-Iweala would bring her wealth of experience in building stronger alliances to promote multilateral trade, instill the needed discipline to advance the development of world economies and bridge trade gaps between developed and developing economies across the globe.
In a speech after her confirmation, Okonjo-Iweala said her key priority would be to work with members to quickly address the economic and health consequences brought about by the COVID-19 pandemic.
She said, “I am honoured to have been selected by members as WTO director-general.
“A strong WTO is vital if we are to recover fully and rapidly from the devastation wrought by the COVID-19 pandemic.
“I look forward to working with members to shape and implement the policy responses we need to get the global economy going again.
“Our organisation faces a great many challenges but working together we can collectively make the WTO stronger, more agile and better adapted to the realities of today.”
Okonjo-Iweala will resume her position on March 1, and her term which is renewable will expire on August 31, 2025.
The General Council Chair, David Walker of New Zealand who, together with co-facilitators Ambassador Dacio Castillo (Honduras) and Amb. Harald Aspelund (Iceland), led the nine-month director-general selection process and congratulated her.
He said, “This is a very significant moment for the WTO.”
He said he was certain that all members would work with her constructively during her tenure as director-general to shape the future of WTO.
The general council’s decision followed months of uncertainty which arose when the United States initially refused to join the consensus around Okonjo-Iweala and threw its support behind Trade Minister of the Republic of Korea, Yoo Myung-hee.
But following Myung-hee’s decision on February 5 to withdraw her candidacy, the administration of the newly elected US President, Joseph Biden, dropped the US objection and announced instead that Washington extended its strong support to the candidacy of Okonjo-Iweala.
