When on August 2011, precisely a decade ago, FORBES Magazine named Dr. Ngozi Okonjo-Iwella as the 87th most powerful woman in the world and the 2nd most prominent in Africa, not many believe that the recognition is a harbinger to attaining greater heights in world politics and economy.
Other African women in leadership named along side Okonjo Iwella include Mrs. Johnson Sirleaf, Africa’s first female President of Liberia; Joyce Banda, another female African president of Malawi, Gill Marcus Governor, Reserve Bank South Africa; Joice Mujura, Vice President, Zimbabwe; Diezani Allison-Madueke, Minister of Petroleum Resources Nigeria; Maria Ramos, Chief Executive officer ABSA, South Africa’s largest Retail Bank; and Mamphela Ramphele, Chairman Circle Capital Ventures South Africa.
Others recognized by the magazine along side Okonjo-Iwella are: Mrs. Wendy Appelbaum, South African Businesswoman and Philanthropist; Wendy Luhabe, Women private Equity Fund South Africa; Nicky Newton-King, Chief Executive Officer, Johannesburg Stock Exchange; Nonkuleko Nyembezi-Heita Chief Executive officer, Arcelormtital, South Africa; Linah Mohohio, Governor Bank of Botswana; Grace Michael, Politician and Humanitarian Mozambique / South Africa, Genevieve Sangudi, Managing Director, Carlyle Group, South Africa; Ory Kolloh, Policy Manager for Africa, Kenya; Ngozi Edozien, Chief Executive officer, West Africa Activist, Nigeria; Tsega Gebreyes, Managing Partner, Satya Capital, Ethiopia; Phuti Mahanyele, Chief Executive Officer, Sanduka Group, South Africa and Isis Ngongo, Vice President/Managing Director, Africa Inmobi, Kenya.
A world acclaimed economic reformer, Dr. Ngozi Okonjo-Iwella’s top ranking in the global women leadership by Forbes Magazine is not surprising given her antecedents nationally and internationally.
Prior to her recent appointment, Dr. Okonjo-Iwella had the backing of the Federal Government of Nigeria, the Economic Community of West African State ECOWAS, African Union AU, the European Union EU, India, China and Russia. The U.S under former President Donald trump did not favour her appointment as stated by a senior US Official; “Ngozi Okonjo-Iwella’s candidacy was opposed because she had no background on trade, having spent most of her career at the World Bank, and because the WTO shouldn’t have moved forward with her candidacy when there was not a consensus”. Translating the US position into practice, a United States backed candidate contested against Okonjo – Iwella in the last count, but her resilience, experience, brilliance and act of God saw her emerging victorious at the meeting of the General Council of the World Trade Organisation WTO in Geneva, Switzerland on the 15th February 2021. Dr. Ngozi Okonjo-Iwella assumed office on 1st March 2021 as the first female and the first African elected as the Director-General of the Global Trade Organization. Her ascendency has made Africa and womenfolk across the world proud and the Black World looks forward to Okonjo-Iwella excelling and distinguishing herself in this new responsibility and for a better world.
DIRECTOR-GENERAL’S PROFILE
Mrs. Ngozi Okonjo Iweala is held in high esteem by many Nigerians as a very friendly, selfless, hardworking and dedicated person who would not hurt a fly. Two things were said to have stood in her favour; giving up her cosy World Bank Job in Washington to serve Nigeria, her motherland, and her apparent incorruptibility. Most Nigerians believe that she must genuinely love her country to have agreed to leave Washington to take up the task of reshaping Nigerian’s battered and corrupt economy.
Indeed she is a special breed of the’ Nigerian woman who has refused to grow out of her strictly conservative background. Born in Ogwashi-Uku, Delta State on June 13th 1954, Okonjo Iweala is the former Finance Minister and Foreign Affairs Minister of Nigeria, noted for being the first woman to hold either of those positions. She served as Finance Minister from July 2003 until her appointment as a Foreign Affairs Minister in June2006 led to her resignation in August 2006.
Okonjo-Iweala was considered as a possible replacement for former World Bank president Paul Wolfowitz. On October 4th 2007 she was appointed the Managing Director of the World Bank-by World Bank President Robert Zoellick. She was educated at Harvard University (A.B. Magna Cum laude 1977) and earned her Ph.D Regional Economics and Development from the Massachusetts Institute of Technology (MIT). Prior to her Ministerial career in Nigeria, Okonjo Iweala was Vice President and Corporate Secretary of the World Bank Group. She left in 2003 and joined former President Obasanjo’s Government on 15 July. In October, 2005, she led the Nigerian team that struck a deal with the Paris Club, a group of bilateral creditors, to pay a portion of Nigeria’s external debt (US $12 billion) in return for an $18billion debt write off. Prior to the partial debt payment and write-off, Nigeria spent roughly U.S 1 billion every year on debt servicing, without making a dent in the principal owed. Okonjo Iweala also introduced the practice of publishing each states monthly financial allocation from the Federal Government in the newspapers. This was done to ensure probity and accountability in the country’s financial administration and governance. She was instrumental in helping Nigeria obtain its first ever sovereign credit rating (of BB minus) from Fitch and Standard and Poor. Nigeria is considered to have defaulted on its sovereign debt in 1993 (debt rescheduling is considered a type of default by rating agencies). Unlike most of her fellow ministers, she does not maintain a large retinue of domestic staff or fleet of cars.
She resigned as Nigeria’s Foreign Affairs Minister on August 3, 2006 following her sudden removal as head of Nigeria’s Economic Intelligence team by President Olusegun Obasanjo. She left office at the end of August 2006. On October 4, 2007., when the World Bank President Robert Zoellick appointed her to the post of Managing Director, effective December 1, 2007. Okonjo-Iweala’s NGO NOI Global Consulting in 2007 partnered with Gallup Organistion to introduce an opinion poll, the NOI poll, into the Nigerian polity. She is a fellow at the Brooklings Institutions. Okonjo-Iweala also serves on the Board of Directors of the World Resources Institute. Her social life revolves around official parties and communal engagements in her native south-cast.
As a Nigeria’s Finance Minister for three years she was considered one of the Mcfet trusted Cabinet Minister. She has won many awards across the world, including the Euromarket Forum Award for Vision and Courage; Hero of the year by Time magazine in 2004, Minister of the Year 2004 by This Day Nigeria, global Finance Minister of the year 2005 by Euromoney Magazine and African Finance Minister of the year 2005 by Financial times/The Banker Mrs. Okonjo-Iweala married her childhood sweetheart Dr. Iweala from Umuahia, Abia State, who now practice surgery in the US and they are blessed with four children.
W.T.O. FACT FILE
The World Trade Organization (WTO), established on January 1, 1995, under an agreement reached during the Uruguay Round of multilateral trade negotiations. The Uruguay Round was the last of a series of periodic trade negotiations held under the auspices of the WTO’s predecessor, the General Agreement on Tariffs and Trade (GATT).
The WTO is the most important international organization that governs world trade. Decisions are made by the member countries. The WTO has 151 members and 31 observer governments (most of which have applied for membership), and members represent over 95% of world trade.
Decisions are made by the member countries. The WTO has 151 members and 31 observer governments (most of which have applied for membership), and members represent over 95% of world trade.
The highest-level decisions are made at the Ministerial Conference, which is the meeting of trade ministers from member countries. The Ministerial Conference must meet at least every two years. The General Council is the body of national representatives that oversees the day-to-day operations of the WTO. The General Council meets approximately monthly. It also meets in two other capacities: it reviews national trade policies, and it oversees the dispute settlement process. Under the General Council are numerous committees, working groups, and other bodies.
Assisting the members is a WTO Secretariat that numbers about 635 and is located in Geneva, Switzerland. Trade agreements administered by the WTO cover a broad range of goods and services trade and apply to virtually all government practices that directly relate to trade, for example tariffs, subsidies, government procurement, and trade-related intellectual property rights. The WTO agreements are based on the principle of non-discriminatory treatment among countries. Some exceptions however, such as preferential treatment for developing countries, are allowed. Other basic principles of the WTO are open information on rules and regulations, negotiated limits on trade barriers, and settlement of disputes under specific procedures.
Nigeria office of the world Trade Organisation WTO is located at the Western House, Broad Street, Lagos and it comprises the 36 bodies in the United Nations System oversees by the United Nations Secretary-General.
Dr. Ngozi Okonjo Iweala’s vision as the Managing Director of WTO is prioritize and restore the vision of the Organisation delivering for development by trying to lift the lives of people and bring shared prosperity and a purpose driven WTO.
When on August 2011, precisely a decade ago, FORBES Magazine named Dr. Ngozi Okonjo-Iwella as the 87th most powerful woman in the world and the 2nd most prominent in Africa, not many believe that the recognition is a harbinger to attaining greater heights in world politics and economy.
Other African women in leadership named along side Okonjo Iwella include Mrs. Johnson Sirleaf, Africa’s first female President of Liberia; Joyce Banda, another female African president of Malawi, Gill Marcus Governor, Reserve Bank South Africa; Joice Mujura, Vice President, Zimbabwe; Diezani Allison-Madueke, Minister of Petroleum Resources Nigeria; Maria Ramos, Chief Executive officer ABSA, South Africa’s largest Retail Bank; and Mamphela Ramphele, Chairman Circle Capital Ventures South Africa.
Others recognized by the magazine along side Okonjo-Iwella are: Mrs. Wendy Appelbaum, South African Businesswoman and Philanthropist; Wendy Luhabe, Women private Equity Fund South Africa; Nicky Newton-King, Chief Executive Officer, Johannesburg Stock Exchange; Nonkuleko Nyembezi-Heita Chief Executive officer, Arcelormtital, South Africa; Linah Mohohio, Governor Bank of Botswana; Grace Michael, Politician and Humanitarian Mozambique / South Africa, Genevieve Sangudi, Managing Director, Carlyle Group, South Africa; Ory Kolloh, Policy Manager for Africa, Kenya; Ngozi Edozien, Chief Executive officer, West Africa Activist, Nigeria; Tsega Gebreyes, Managing Partner, Satya Capital, Ethiopia; Phuti Mahanyele, Chief Executive Officer, Sanduka Group, South Africa and Isis Ngongo, Vice President/Managing Director, Africa Inmobi, Kenya.
A world acclaimed economic reformer, Dr. Ngozi Okonjo-Iwella’s top ranking in the global women leadership by Forbes Magazine is not surprising given her antecedents nationally and internationally.
Prior to her recent appointment, Dr. Okonjo-Iwella had the backing of the Federal Government of Nigeria, the Economic Community of West African State ECOWAS, African Union AU, the European Union EU, India, China and Russia. The U.S under former President Donald trump did not favour her appointment as stated by a senior US Official; “Ngozi Okonjo-Iwella’s candidacy was opposed because she had no background on trade, having spent most of her career at the World Bank, and because the WTO shouldn’t have moved forward with her candidacy when there was not a consensus”. Translating the US position into practice, a United States backed candidate contested against Okonjo – Iwella in the last count, but her resilience, experience, brilliance and act of God saw her emerging victorious at the meeting of the General Council of the World Trade Organisation WTO in Geneva, Switzerland on the 15th February 2021. Dr. Ngozi Okonjo-Iwella assumed office on 1st March 2021 as the first female and the first African elected as the Director-General of the Global Trade Organization. Her ascendency has made Africa and womenfolk across the world proud and the Black World looks forward to Okonjo-Iwella excelling and distinguishing herself in this new responsibility and for a better world.
DIRECTOR-GENERAL’S PROFILE
Mrs. Ngozi Okonjo Iweala is held in high esteem by many Nigerians as a very friendly, selfless, hardworking and dedicated person who would not hurt a fly. Two things were said to have stood in her favour; giving up her cosy World Bank Job in Washington to serve Nigeria, her motherland, and her apparent incorruptibility. Most Nigerians believe that she must genuinely love her country to have agreed to leave Washington to take up the task of reshaping Nigerian’s battered and corrupt economy.
Indeed she is a special breed of the’ Nigerian woman who has refused to grow out of her strictly conservative background. Born in Ogwashi-Uku, Delta State on June 13th 1954, Okonjo Iweala is the former Finance Minister and Foreign Affairs Minister of Nigeria, noted for being the first woman to hold either of those positions. She served as Finance Minister from July 2003 until her appointment as a Foreign Affairs Minister in June2006 led to her resignation in August 2006.
Okonjo-Iweala was considered as a possible replacement for former World Bank president Paul Wolfowitz. On October 4th 2007 she was appointed the Managing Director of the World Bank-by World Bank President Robert Zoellick. She was educated at Harvard University (A.B. Magna Cum laude 1977) and earned her Ph.D Regional Economics and Development from the Massachusetts Institute of Technology (MIT). Prior to her Ministerial career in Nigeria, Okonjo Iweala was Vice President and Corporate Secretary of the World Bank Group. She left in 2003 and joined former President Obasanjo’s Government on 15 July. In October, 2005, she led the Nigerian team that struck a deal with the Paris Club, a group of bilateral creditors, to pay a portion of Nigeria’s external debt (US $12 billion) in return for an $18billion debt write off. Prior to the partial debt payment and write-off, Nigeria spent roughly U.S 1 billion every year on debt servicing, without making a dent in the principal owed. Okonjo Iweala also introduced the practice of publishing each states monthly financial allocation from the Federal Government in the newspapers. This was done to ensure probity and accountability in the country’s financial administration and governance. She was instrumental in helping Nigeria obtain its first ever sovereign credit rating (of BB minus) from Fitch and Standard and Poor. Nigeria is considered to have defaulted on its sovereign debt in 1993 (debt rescheduling is considered a type of default by rating agencies). Unlike most of her fellow ministers, she does not maintain a large retinue of domestic staff or fleet of cars.
She resigned as Nigeria’s Foreign Affairs Minister on August 3, 2006 following her sudden removal as head of Nigeria’s Economic Intelligence team by President Olusegun Obasanjo. She left office at the end of August 2006. On October 4, 2007., when the World Bank President Robert Zoellick appointed her to the post of Managing Director, effective December 1, 2007. Okonjo-Iweala’s NGO NOI Global Consulting in 2007 partnered with Gallup Organistion to introduce an opinion poll, the NOI poll, into the Nigerian polity. She is a fellow at the Brooklings Institutions. Okonjo-Iweala also serves on the Board of Directors of the World Resources Institute. Her social life revolves around official parties and communal engagements in her native south-cast. As a Nigeria’s Finance Minister for three years she was considered one of the Mcfet trusted Cabinet Minister. She has won many awards across the world, including the Euromarket Forum Award for Vision and Courage; Hero of the year by Time magazine in 2004, Minister of the Year 2004 by This Day Nigeria, global Finance Minister of the year 2005 by Euromoney Magazine and African Finance Minister of the year 2005 by Financial times/The Banker Mrs. Okonjo-Iweala married her childhood sweetheart Dr. Iweala from Umuahia, Abia State, who now practice surgery in the US and they are blessed with four children.
W.T.O. FACT FILE
The World Trade Organization (WTO), established on January 1, 1995, under an agreement reached during the Uruguay Round of multilateral trade negotiations. The Uruguay Round was the last of a series of periodic trade negotiations held under the auspices of the WTO’s predecessor, the General Agreement on Tariffs and Trade (GATT).
The WTO is the most important international organization that governs world trade. Decisions are made by the member countries. The WTO has 151 members and 31 observer governments (most of which have applied for membership), and members represent over 95% of world trade.
Decisions are made by the member countries. The WTO has 151 members and 31 observer governments (most of which have applied for membership), and members represent over 95% of world trade.
The highest-level decisions are made at the Ministerial Conference, which is the meeting of trade ministers from member countries. The Ministerial Conference must meet at least every two years. The General Council is the body of national representatives that oversees the day-to-day operations of the WTO. The General Council meets approximately monthly. It also meets in two other capacities: it reviews national trade policies, and it oversees the dispute settlement process. Under the General Council are numerous committees, working groups, and other bodies.
Assisting the members is a WTO Secretariat that numbers about 635 and is located in Geneva, Switzerland. Trade agreements administered by the WTO cover a broad range of goods and services trade and apply to virtually all government practices that directly relate to trade, for example tariffs, subsidies, government procurement, and trade-related intellectual property rights. The WTO agreements are based on the principle of non-discriminatory treatment among countries. Some exceptions however, such as preferential treatment for developing countries, are allowed. Other basic principles of the WTO are open information on rules and regulations, negotiated limits on trade barriers, and settlement of disputes under specific procedures.
Nigeria office of the world Trade Organisation WTO is located at the Western House, Broad Street, Lagos and it comprises the 36 bodies in the United Nations System oversees by the United Nations Secretary-General.
Dr. Ngozi Okonjo Iweala’s vision as the Managing Director of WTO is prioritize and restore the vision of the Organisation delivering for development by trying to lift the lives of people and bring shared prosperity and a purpose driven WTO.