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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.
It was reported that former Nigerian president Goodluck Jonathan has allegedly purchased a presidential candidate form for the 2027 elections.
It can be noted that Jonathan served as Nigeria’s president from 2010 to 2015.
This information was revealed by Sani Useni, a special assistant who made the claim. Many reacted to the news, with some expressing interest in seeing Jonathan return to power after staying relatively quiet politically since his administration ended.
However, Jonathan has not yet addressed the public or officially shared any presidential ambition.
The Christian Association of Nigeria (CAN) has reacted to the recent abduction incident in Oyo State.
It can be recalled that schools were attacked by armed men, with some teachers and students reportedly taken. Some people were also killed during the attack.
CAN cried out on behalf of the public, stating “It is intolerable, disgraceful and utterly unacceptable that Nigerian children can no longer sit safely in classrooms without the fear of being kidnapped by armed gangs.”
The organisation also stated that Nigerians are tired of constantly mourning and questioning when something will finally be done to stop the violence.
The Governor of Oyo State, Seyi Makinde, has revealed that seven teachers were abducted following a recent attack on a school in the state.
It was also shared that the number of students taken is still being investigated.
The governor further revealed that some people were killed during the attack and abduction.
He also added “With the pressure on the terrorists and the bandits in the North-West, they will keep moving southward.”
“When you have pressure in one place, we must be prepared on this side to either repel or neutralise any terrorists fleeing the pressure points.”
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