WTO: ‘Okonjo Wahala’ To Become DG Today

By Tosin Olatokunbo

Dr Ngozi Okonjo Iweala, a former Nigeria Minister of Finance will be named as the Director General of the World Trade Organisation, WTO by its governing council, in Geneva, Switzerland, today.

The former minister and coordinating Minister of the Economy under President Goodluck Jonathan had inched towards becoming the first black person to head the trade organization last October, but was rejected by the United State President Donald Trump who preferred the South Korean Korea Trade Minister Yoo Myung-hee, for the top job.

The WTO DG position is based on consensus and majority of the blocs that made up the organization, including EU, UK and China had thrown their weights behind the former World Bank managing director, except the US which exercised its veto to stop Dr Okonjo-Iweala from being announced as the winner.

The development Economist, analysts say was caught up on the wrong side of the Trump administration, who accused her of lack of trade-negotiating experience despite the endorsement of the organization’s selection committee and almost all other member nations.

President Joe Biden’s administration finally gave its blessing, few days ago after the South Korean candidate stepped down, clearing the way for the ex-minister to become the first woman and the first African to lead the WTO in its 25-year history. She will also be the first American citizen to hold the organization’s top job.

Describing Dr Okonjo-Iweala, the President of the European Central Bank, Christine Lagarde said  “She is this wonderful, soft, very gentle woman with an authentic approach to problems but, boy, under that soft glove there is a hard hand and a strong will behind it .She is going to rock the place.”

Ngozi Okonjo-Iweala was noted for her effort to root out corruption during her first stint as Nigeria’s finance minister, which  made her opponents to give her sobriquets such as of her ‘Okonjo Wahala’ and ‘Okonjo the trouble maker.’

Meanwhile, trade analysts say the enormous support she enjoyed from President Muhammadu Buhari and other African heads of state served as strong impetus to clinch the job.