President Muhammadu Buhari has approved the nomination of a former two-term Minister of Finance and former Managing Director (Operations) of the World Bank, Dr. Ngozi Okonjo-Iweala, for the position of Director-General of the World Trade Organisation (WTO).
The nomination comes about three weeks after the incumbent, Mr. Roberto Azevêdo, revealed that he would step down from the position on August 31, 2020, cutting his second term short by one year.
President Muhammadu Buhari confirmed the nomination on Thursday in an official announcement through the Nigerian Embassy and Permanent Mission to the African Union (AU) and United Nations Economic Commission for Africa (UNECA) in Addis Ababa, Ethiopia. The presidency also revealed that the Federal Government of Nigeria has withdrawn the candidacy of Ambassador Yonov Frederick Agah for election to the position of director-general of the World Trade Organisation (WTO).”
He did not disclose the reasons for the withdrawal of Mr Agah’s candidature. Mr Agah is currently one of the four deputy directors-general of the WTO. He was first appointed deputy director-general October 1, 2013. He was reappointed for a second four-year term on October 1, 2017. His tenure runs out on October 1, 2021.
“The embassy of the Federal Republic of Nigeria and permanent mission to the African Union (AU) and United Nations Economic Commission for Africa (UNECA) presents compliments to all embassies and permanent missions in Addis Ababa and has the honour to inform that the Federal Government of Nigeria has withdrawn the candidacy of Ambassador Yonov Frederick Agah for election to the position of Director-General of the WTO,” the document stated.
“In this regard, the Mission also wishes to inform that his Excellency, President Muhammadu Buhari, has approved the nomination of Dr. Ngozi Okonjo-Iweala to replace Ambassador Agah, as Nigeria’s candidacy for the position of the Director-General of the WTO, for the term 2021-2025 at the elections scheduled to hold in Geneva, Switzerland in 2021.
“Nigeria is, therefore, pleased to request the support of esteemed AU member states as well as permanent missions and embassies in Addis Ababa in favour of the candidacy of Okonjo-Iweala,” it added.
Okonjo-Iweala currently chairs the Global Alliance for Vaccines and Immunization (GAVI), a public-private global health partnership with the goal of increasing access to immunisation in poor countries.
She also sits on the board of Twitter and is a former managing director (operations) at the World Bank.
The Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva, also recently appointed Okonjo-Iweala, to serve as a member of her newly-established External Advisory Group.
In addition, Okonjo-Iweala served twice as Nigeria’s Finance Minister, from 2003-2006, 2011-2015 and briefly as Nigeria’s Foreign Affairs Minister in 2006, the first woman to hold both positions.
As Finance Minister, Okonjo-Iweala steered Nigeria through the varying degree of reforms, particularly on macroeconomic, trade, financial and real sector issues.
As Managing Director (Operations) of the World Bank, her several portfolios included oversight responsibility for the World Bank’s $81 billion operational portfolio in Africa, South Asia, Europe, and Central Asia.
She spearheaded several World Bank initiatives to assist low-income countries during the 2008-2009 food crisis and later in the trying period of the global financial crisis.
In 2010, she served as Chair of the World Bank’s successful drive to raise $49.3 billion in grants and low-interest credit for the poorest countries in the world.
