The General Council of the World Trade Organisation (WTO) by consensus selected Nigeria’s former Finance Minister, Dr. Ngozi Okonjo-Iweala as the 7th Director General of the organisation on Monday, February 15. Her term as head of the WTO will run from March 1, 2021 to August 31, 2025. Dr. Okonjo-Iweala emerged the first female and first African to lead the WTO in its 26 years of existence, following a prolonged selection process that lasted for six months, with her foremost contender being the South Korean Minister for Trade, Yoo Myung-hee. The United States government trade representatives under former President, Donald Trump had exercised their veto against Okonjo-Iweala’s nomination. However, with Joe Biden emerging as the President of the United States in November 2020, the country endorsed the candidature of Dr. Okonjo-Iweala. Soon afterwards, the South Korean candidate, Yoo Myung-hee withdrew from the race, paving the way for Dr. Okonjo-Iweala to emerge as Director-General of the organisation.
Observers from around the world have recognised Okonjo-Iweala’s emergence as a great feat for women and the African continent, and particularly, for Nigeria.
In her remark at a press conference held shortly after her appointment, she noted that she is stepping in as head of the organisation at a time of great uncertainty and challenges characterised by the COVID-19 pandemic, and its health and economic implications. She noted the need for deep and wide ranging reforms in the organisation. Among several issues on her agenda, is the review of trade restrictions in the midst of the pandemic, to create free flow of goods and the creation of rules to regulate e-commerce round the world, as well as other necessary innovations within the WTO, to address current realities. With her wealth of experience from serving as a two-time Minister in Nigeria and rising to the position of Managing Director at the World Bank, Dr. Ngozi Okonjo-Iweala seems set to lead the WTO to achieve lasting trade reforms.