News
Okonjo-Iweala Calls for Unity as Global Trade Faces Rising Challenges
Ngozi Okonjo-Iweala highlighted some pressing issues at the International Monetary and Finance Committee (IMFC) meeting of the World Bank-IMF annual meetings in Washington DC.
She shared her views on the significant challenges that global trade faces, such as rising protectionism and increasing fragmentation, pointing out the concerning trend of trade-restrictive measures.
These are not isolated occurrences but part of a wider shift in how nations interact on the world stage.
Countries are adopting more self-protective stances, limiting imports, raising tariffs, and creating barriers that ultimately hurt the flow of goods and services across borders.
Despite these challenges, Okonjo-Iweala stressed the importance of the multilateral trading system, which has served as the backbone of international trade for decades.
She believes that this system, grounded in collaboration among nations, is essential for maintaining global stability and growth.
Safeguarding it is crucial, as it supports the exchange of goods, innovation, and economic resilience worldwide.
Joining the discussions were prominent figures like UK Chancellor of the Exchequer Rachel Reeves, First Deputy Managing Director of the IMF Gita Gopinath, and Nigeria’s Finance Minister Wale Edun.
Rachel Reeves, with her deep experience in British economic policy, discussed how the UK views trade issues within the context of a more divided world.
Gopinath, known for her expertise on global macroeconomics, likely contributed insights on how rising barriers and fragmentation could impact economic growth worldwide, a critical topic as many countries are still trying to recover from the economic strains caused by the pandemic.
Meanwhile, Wale Edun, representing Nigeria, brought in the perspective of a developing economy, which often faces unique challenges in the global trade landscape, from currency fluctuations to limited access to financing for growth.
JAMB has announced that it will release the results of over 379,000 candidates who sat for the rescheduled UTME this Wednesday. The resit, which ran from Friday to Monday, was organized following several reports of technical and human issues during the initial exam. These issues, which were especially noticeable in Lagos and the South-East, affected candidates’ performance and sparked nationwide concern about the exam’s fairness.
JAMB admitted to system failures and took responsibility. Last week, Registrar Prof. Ishaq Oloyede, while announcing the makeup exam, emotionally accepted blame and assured affected candidates they would get another chance. Out of the original 1.9 million candidates who sat for the UTME, more than 1.5 million scored below 200 marks, raising eyebrows about the exam’s credibility.
JAMB’s spokesperson, Fabian Benjamin, confirmed that the resit results would be made public on Wednesday. He noted that 379,997 candidates were affected—over 200,000 from Lagos and more than 170,000 from the South-East. According to the registrar, the issues were due to sabotage, and affected candidates were notified via text messages starting last Thursday.
So far, of the nearly two million results processed, only 0.24% of candidates scored 320 and above, while just 0.63% scored 300 and above. Around 3.76% scored between 250–299, 17.11% fell within the 200–249 range, and over half—50.29%—scored between 160–199. The rest scored below 160, with a very small number getting less than 100.
APC chieftain Joe Igbokwe has pointed fingers at Nigerian traders for the continued surge in food prices across the country. In a Facebook post on Saturday, the outspoken supporter of President Bola Tinubu’s administration accused traders of being too greedy to reduce their prices.
He added that even as statistics suggest that the cost of food is starting to drop, traders have refused to comply. Furthermore, he expressed frustration, saying the refusal to lower prices shows a deeper problem of selfishness among citizens. According to him, Nigerians are their own worst enemies, driven by greed and a habit of taking more than they need.
President Bola Ahmed Tinubu is set to travel to Rome this Saturday to attend the inauguration of Pope Leo XIV, the new leader of the Roman Catholic Church. The invitation came directly from Pope Leo XIV, who emphasized the importance of the president’s presence during this significant moment for the Church and a world facing many challenges.
Pope Leo XIV, formerly Cardinal Robert Francis Prevost, will be officially installed as the 267th Bishop of Rome on Sunday, May 18, at St. Peter’s Square in the Vatican.
President Tinubu will be accompanied by key Catholic figures, including the Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, Archbishop Lucius Ugorji of Owerri, Archbishop Ignatius Kaigama of Abuja, Archbishop Alfred Martins of Lagos, and Bishop Mathew Hassan Kukah of Sokoto.
Notably, Pope Leo XIV has a special connection to Nigeria, having worked at the Apostolic Nunciature in Lagos during the 1980s. After the ceremony, President Tinubu is expected to return to Abuja on Tuesday, May 20.
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