Senate President, Govs Obaseki, Fayemi Pour Encomiums

Encomiums have continued to pour for Nigeria and Dr. Ngozi Okonjo-Iweala, her former Finance Minister cum Coordinating Minister for the Economy, and former Managing Director of the World Bank, who was on February 15, 2021 ratified as the first woman and African to become Director-General of the 73-year old World Trade Organisation (WTO), from March 1.

She was formally appointed at a special meeting of the WTO’s General Council in Geneva, Switzerland, after emerging from a shortlist of eight candidates from across the globe, the last of who stepped down.

Tweeting via her personal Twitter handle on Monday after the announcement, an obviously elated Okonjo-Iweala expressed readiness to tackle the challenges of the organization, warning all to “forget Business as usual!”

Continuing, she said: the real work begins, expressing her appreciation to “WTO members for finalizing my election today and making history in the 73 years of GATT and WTO, (I’m) honored to be First Woman and First African to lead.”

The new WTO boss who succeeds Roberto Azevêdo, who had announced plans to step down in August 2020, was nominated for the plum job by Nigeria’s President Muhammadu Buhari, who had proceeded to seek support from powerful blocs within the organization, including the European and African Union.

Her emergence is however largely due to the failure of Donald Trump (who had vowed to block her nomination) to secure a second and final four-year term as President of the United States.

As DG, NOI, as she is often referred to, has the task of brokering international trade talks in the face of persistent U.S.-China conflict; respond to pressure to reform trade rules; and counter protectionism heightened by the COVID-19 pandemic.

But obviously undaunted, the 66-year old Economist, said on Monday: “What it (the WTO) needs is someone who has the capability to drive reform, who knows trade and who does not want to see business as usual. And that is me.”

Reuters quoted her as outlining her priority during an interview as ensuring the trade body does more to address the COVID-19 pandemic, calling the disparities in vaccine rates between rich and poor countries “unconscionable” and urging members to lift export restrictions on medical items.

Already, the U.S. delegates expressed commitment to working closely with her as a “constructive partner,” while that of China pledged “full support.”

The EU trade commissioner Valdis Dombrovskis looks forward to working closely with her to drive “much-needed reform of the institution”.

Asked about the challenges ahead, she joked that a book she wrote about fixing Nigeria’s broken institutions could well apply to today’s WTO: ‘Reforming the Unreformable’.

“I feel I can solve the problems. I’m a known reformer, not someone who talks about it,” she told Reuters in an earlier interview. “I’ve actually done it”.

In his congratulatory message, President of the Senate, Ahmad Lawan, while applauding her for the well deserved victory, also saluted Nigeria for her “quiet but dogged diplomacy… and the unwavering commitment of President Muhammadu Buhari which, no doubt, contributed to the acknowledgement of the sterling credentials of Dr Okonjo-Iweala and her ultimate triumph in the prolonged contest for the very important position.”

According to her, Senator Lawan noted that “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.”

A statement by Ola Awoniyi, Special Adviser (Media) to President of the Senate, quoted him as urging the new DG “to deploy her famed intellect, experience, energy and integrity in leading the WTO to promote global prosperity through fair trade.”

While praying that the Almighty imbue her with good health and wisdom to succeed in the task, which he continued, has been made even more onerous by the havoc that the Covid-19 pandemic has wreaked on economies across the world.

Felicitating with the new WTO boss, Governor Godwin Obaseki of Edo State expressed confidence in her ability as a “a fine economist and international development expert (who) has in time past spearheaded several World Bank initiatives as a former Managing Director (Operations)…”

He added that Dr. Okonjo-Iweala will 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.

For his Ekiti State counterpart, Dr. Kayode Fayemi, the former Nigerian two-term Finance Minister has once again blazed the trail.