By Chinasaokwu Helen Okoro
President Bola Tinubu on Friday congratulated former Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, on her unanimous re-election as the Director-General of the World Trade Organisation (WTO).
The General Council of the World Trade Organisation (WTO), during a special General Council meeting on November 28-29, 2024, agreed by consensus to reappoint Dr. Ngozi Okonjo-Iweala as Director-General for a second four-year term, set to begin on September 1, 2025.
This decision, the council said, is in recognition of Okono-Iweala’s exceptional leadership and strategic vision for the future of the organisation.
The reappointment process, initiated on October 8, 2024, was overseen by the Chair of the General Council, Ambassador Petter Ølberg of Norway.With no additional nominations submitted by the November 8 deadline, Okonjo-Iweala stood as the sole candidate.
At the November 28-29 meeting, Okonjo-Iweala outlined her vision for the WTO and following her presentation and a Q&A session with members, the Council formally endorsed her reappointment by consensus.
Ølberg praised her achievements, stating: “The General Council commends Dr. Okonjo-Iweala for her outstanding leadership during her first term. Amid significant global economic challenges, she strengthened the WTO’s ability to support its members and set a forward-looking agenda for the organisation.
Her leadership was instrumental in securing meaningful outcomes at pivotal moments, including the 12th and 13th Ministerial Conferences where major milestones were achieved.
We fully support her commitment to ensuring that the WTO remains responsive, inclusive and results-driven. Her leadership will be critical as we continue to advance a resilient, rules-based and equitable global trading system.”President Tinubu, in a statement, assured Okonjo-Iweala of Nigeria’s steadfast support as she consolidates her bold reforms, dedication to equitable global trade practices, and tireless efforts to promote international cooperation.
He noted that Okonjo-Iweala’s unanimous appointment for a second four-year term is a demonstration of the trust and confidence the international community places in her leadership to advance multilateral trade for sustainable global development.
The President expressed confidence that her continued leadership will strengthen the international economic organisation’s role as a critical pillar of inclusive global economic growth and good governance in the next four years.
According to the statement issued by Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu said, “as a committed member of the WTO, ECOWAS, and the African Continental Free Trade Area (AfCFTA), Nigeria will continue to support the WTO’s mission to foster a fair, inclusive, and equitable multilateral trading system.
”In her reaction, Okonjo-Iweala said she was honoured by the trust and support of the Council and its 166 Members.Her words: “It is a privilege to continue serving as DG for a second four-year term. In recent years, the WTO has played a vital role in helping Members navigate pressing global challenges, including the pandemic, conflict and heightened geopolitical tensions.
I commend members for their hard work and determination in achieving progress despite unprecedented levels of uncertainty and rapid economic shifts. As we look ahead, I remain firmly committed to delivering results that matter, results that ultimately improve the lives of people around the world.
By promoting trade as a driver of economic growth and resilience, we will continue to provide a collaborative platform for Members to address shared global challenges.
I am committed to working alongside the staff of the WTO to build a more inclusive, equitable, and rules-based multilateral trading system that benefits all.”Okonjo-Iweala had twice served as Nigeria’s Finance Minister and briefly acted as Foreign Minister in 2006, the first woman to hold both positions. She first assumed office as DG on March 1, 2021, becoming the first woman and first African to lead the global trade body.
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