Okonjo-Iweala Reacts As US Finally Supports Her To Become WTO DG

Nigeria’s former Finance Minister, Ngozi Okonjo-Iweala has expressed happiness as the United States has finally backed her to become the next Director-General of the World Trade Organization (WTO).

Okonjo-Iweala who is currently the sole candidate left in the race for the international job following the withdrawal of the South Korean candidate, Yoo Myung-hee expressed appreciation to all those who supported her so far in the race to emerge as the next WTO boss.

Naija News recalls Iweala secured a large vote for the post from board members on October 26 but was not declared as the DG because the US under Donald Trump opposed her candidacy.

She polled 104 votes from 164 member countries to defeat Myung-hee of South Korea in the final stage of the race for the international job.

After the October 28, 2020, meeting, the WTO also said Okonjo-Iweala had the best chance of getting a consensus.

The US while giving its reason for supporting Yoo against Okonjo-Iweala said WTO must be “led by someone with real, hands-on experience in the field”.

There had been speculations in some quarters that the US would support Okonjo-Iweala, following the emergence of Joe Biden as the President of the United States of America.

Earlier, Naija News also reported that The South Korean candidate for the World Trade Organisation director-general position, Yoo Myung-hee, has withdrawn her candidacy leaving a clear path for Okonjo-Iweala to emerge as the DG of the WTO.

On Friday evening, the US government supported the candidacy of the former Nigeria’s finance Minister and Okonjo-Iweala also confirmed that she has gotten the US support for the top international job.

According to Nigeria News, the office of the US Trade Representative in a statement cited her “wealth of knowledge in economics and international diplomacy” and said she had “proven experience managing a large international organization.”

“Dr. Okonjo-Iweala brings a wealth of knowledge in economics and international diplomacy. She is widely respected for her effective leadership and has proven experience managing a large international organization with a diverse membership,” the trade representative office said.

She also wrote on her personal Twitter account: “Grateful for the expression of support from the US today for DG @WTO. Congratulations to Madam Yoo of Rep. Korea for a hard fought campaign.Thank You President Muhammadu Buhari @MBuhari & all Nigerians for your unflinching support.Thank you friends. Love to my family.Glory to God.”

Grateful for the expression of support from the US today for DG @WTO. Congratulations to Madam Yoo of Rep. Korea for a hard fought campaign.Thank You President Muhammadu Buhari @MBuhari &all Nigerians for your unflinching support.Thank you friends. Love to my family.Glory to God.

— Ngozi Okonjo-Iweala (@NOIweala) February 5, 2021

With this development, all is now clear for her to emerge the new Director-General of the World Trade Organization (WTO).

Meanwhile, former Governor of Ekiti State, Ayodele Fayose has reacted to the foreign capital flow into Nigeria which sunk by more than half in 2020 to $9.68bn.

Naija News reports that the National Bureau of Statistics (NBS) in its capital importation report for the fourth quarter and full-year 2020, said the total value of capital importation into the country fell by 59.65 percent or $14.3bn last year from $23.99bn in 2019.

But in a series of tweets via his Twitter page on Friday, Fayose said the economy of the country may suffer more setbacks and not recover 50 years after the tenure of President Muhammadu Buhari.

He said the ineptitude of the President led to the decline in foreign capital flow, adding that the slump is evidence of how the Buhari regime has destroyed the country’s economy.