Okonjo-Iweala Urges Tinubu to Enhance Economic Reforms

Ngozi Okonjo-Iweala, the Director-General of the World Trade Organisation (WTO), addressed the Tinubu administration at the 7th Africa Emerging Markets Forum in Abuja, emphasizing the need for sustained macroeconomic reforms that directly benefit ordinary Nigerians. She stated that reforms should lead to job creation and improved living standards, asserting that "Nigerians have to feel the impact of reforms." Okonjo-Iweala highlighted that Nigeria could leverage ongoing changes in global trade by enhancing its business environment and maintaining macroeconomic stability.

She noted that the global economy is diversifying away from a few manufacturing centers due to disruptions from the COVID-19 pandemic and geopolitical tensions. Okonjo-Iweala also pointed out that despite rising protectionist policies, 72% of global trade operates under WTO rules, underscoring the resilience of multilateral trading systems.

She called for African nations to invest in value addition and integrate into global value chains, while advocating for reforms in global institutions to support sustainable economic growth.