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.
LeBron James, the NBA’s all-time leading scorer and Los Angeles Lakers star, has announced a temporary break from social media.
The 39-year-old made the announcement on X (formerly Twitter) and Instagram after sharing a post by Rich Kleiman, agent to NBA star Kevin Durant, criticizing the media’s focus on negativity.
Kleiman wrote, “With so much hate and negativity in the world today, it confuses me why some of the national sports media still think that the best way to cover sports is through negative takes… I, for one, find it all a waste of breath.” James shared the post, adding a simple comment: “AMEN!!”
In a follow-up post, James confirmed his social media hiatus, writing, “And with that said, I’ll holla at y’all! Getting off social media for the time being. Y’all take care.”
James, known for his strong presence on and off the court, is taking this break amidst ongoing discussions about the role of media in shaping public perceptions of athletes.
Lagos State Governor, Sanwo-Olu presents 3 Trillion Naira as the budget for the proposed Appropriation Bill for 2025 to the house of assembly. The assembly meeting was led by Speaker, Mudashiru Obasa. The budget is themed Budget of Sustainability and will be a blue print for the commitment to Lagosians.
The ceremony was held in the state house, Alausa, Lagos. With this proposed bill the state government is focusing on environment, education, technology, security and public safety.
Former Petroleum Minister Diezani Alison-Madueke has filed a motion to amend her lawsuit challenging the Economic and Financial Crimes Commission’s (EFCC) order for the final forfeiture of her seized assets.
At a Federal High Court hearing in Abuja presided over by Justice Inyang Ekwo, Alison-Madueke’s counsel confirmed filing the amendment motion and serving the EFCC. Notably, no EFCC representatives appeared in court.
The embattled ex-minister also sought an extension of time to contest the EFCC’s public notice regarding the sale of her confiscated properties, claiming she was denied a fair hearing during the forfeiture proceedings.
The EFCC, however, rejected Alison-Madueke’s allegations, maintaining that the forfeiture cases were lawfully adjudicated over time.
Justice Ekwo adjourned the case to February 17, 2025, to consider the motion to amend the originating process.
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