News
Ngozi Okonjo-Iweala Reappointed for a Second Term as Director-General of the WTO
Ngozi Okonjo-Iweala, Nigeria’s renowned economist and the Director-General of the World Trade Organization (WTO), has shared her thoughts following her reappointment for a second term.
The WTO General Council confirmed her reappointment, extending her leadership for another four years.
Okonjo-Iweala expressed profound gratitude for the trust and support shown by the WTO’s 166 member nations.
In a statement addressed to the WTO General Council on Friday, Okonjo-Iweala acknowledged the honor of continuing in her role, emphasizing her commitment to advancing the organization’s mission.
“I am deeply honored by the trust and support of the WTO General Council and its 166 Members,” she said.
“It is a privilege to continue serving as Director-General for a second term.”
Since taking office, Okonjo-Iweala has played a pivotal role in guiding the WTO through some of the most challenging times in recent history.
Under her leadership, the organization navigated the global economic turmoil caused by the COVID-19 pandemic, managed the effects of ongoing conflicts, and faced growing geopolitical tensions.
Looking ahead, the Director-General emphasized her dedication to delivering impactful results.
“In recent years, the WTO has played a vital role in helping Members navigate pressing global challenges, including the pandemic, conflict, and heightened geopolitical tensions,” she noted.
“As we look ahead, I remain firmly committed to delivering results that matter—results that ultimately improve the lives of people around the world.”
In her statement, Okonjo-Iweala also mentioned the importance of collaboration within the WTO.
She reaffirmed her commitment to working closely with the organization’s staff to build a multilateral trading system that is more inclusive, equitable, and based on clear, fair rules that benefit all.
Borno State Governor, Professor Babagana Zulum, has alleged that certain individuals are benefiting financially from the prolonged insurgency caused by Boko Haram and are reluctant to see it end.
In an interview with BBC Hausa, the governor lamented how these individuals, who profit from the crisis in the Northeast and neighboring Chad, are hindering efforts to combat the insurgency.
“There are people who don’t want this insecurity to end because they will not be happy with that,” Zulum stated.
While acknowledging progress in the fight against the insurgents, he expressed concern about the resurgence of Boko Haram fighters who have returned to the region after being driven out of Chad.
Zulum called for unity among citizens and urged them to support security agencies to tackle the menace effectively. However, the governor refrained from naming those allegedly profiting from the crisis.
Nigerian Pastor, Pastor Bolaji of the Lead Pastor of Harvesters International Christian Center (HICC), is under interrogation with the Force Criminal Investigation Department (FCID) in Abuja. The Pastor has been accused for real estate fraud and illegal money collection.
A report was shared with the confirmation from the police that this is just the beginning of the investigation with Pastor Bolaji. The investigation will be a long process as they will look through his financial records.
A police stated to the media “The Next Level Prayer Conference, Pastor Bolaji Idowu, has been arrested by the police, and he is being grilled in Abuja over real estate fraud and money laundering.”
Jimoh Ibrahim, the Senator representing Ondo South Senatorial District, has called for the taxation of rich Nigerians to help address the country’s economic challenges. Speaking to the Senate Press Corps after plenary on Tuesday, December 3, Ibrahim emphasized that taxing the wealthy is a global practice during economic crises.
During the plenary, he provided insight into the report on the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). Ibrahim highlighted that implementing higher taxes on affluent citizens would be a first for Nigeria and an effective way to increase the nation’s revenue.
“The rich in Nigeria are not paying enough taxes to be good jolly fellows with the poor. In other countries, taxes are paid on transactions, and the rich contribute more. Luxury taxes should be monitored and collected,” he said.
The senator also proposed the creation of a comprehensive database of taxable wealthy individuals, noting that only 18% of Nigerians currently fall within the tax net, leaving 72% untaxed.
Ibrahim urged the government to focus on transactional taxes for affluent citizens and to introduce laws ensuring effective collection of luxury and other taxes.
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