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REAL NAME: Ngozi Okonjo-Iweala
NICKNAME: Ngozi Okonjo-Iweala
DOB: 13 June 1954
BIRTHPLACE: Ogwashi-Ukwu, Nigeria
BIRTH SIGN: Gemini
FATHER: Chukwuka Okonjo
MOTHER: Kamene Okonjo
SPOUSE / HUSBAND: Ikemba Iweala
INSTAGRAM HANDLE: https://www.instagram.com/ngozi_okonjo_iwella
TWITTER HANDLE: https://twitter.com/NOIweala
FACEBOOK HANDLE: https://www.facebook.com/NgoziOkonjoIweala
Ngozi Okonjo-Iweala GCON is a Nigerian-American economist serving as the Director-General of the World Trade Organization (WTO) since March 2021. She was born on June 13, 1954, and has the title of GCON. Notably, she is the first person of either gender and the first person from Africa to hold the position of Director-General for the World Trade Organization. She now serves on the boards of directors for Danone and Standard Chartered Bank.
MINDS is an acronym that stands for the Mandela Institute for Development Studies, the Carnegie Endowment for International Peace, the Georgetown Institute for Women, Peace and Security, One Campaign, the Rockefeller Foundation, GAVI: Global Alliance for Vaccines and Immunization, R4D: Results for Development, ARC: African Risk Capacity, and the Earthshot Prize, amongst other organizations.
In addition, she used to be a member of the Board of Directors for Twitter. Still, she resigned from that position in February of 2021 to accept the rank of Director General of the World Trade Organization. in her capacity as a non-resident distinguished fellow with the Africa Growth Initiative at the Brookings Institution’s Global Economy and Development Program, Okonjo-Iweala serves the Brookings Institution.
She is the Co-Chair of the Global Commission on the Economy and Climate and Commissioner Emeritus. She began her career at the World Bank as a development economist and worked there for 25 years, climbing through the ranks to become the Managing Director for Operations from 2007 to 2011. Okonjo-Iweala was the first woman from Nigeria to hold the position of Finance Minister of Nigeria for more than one term.
First, under the presidency of Olusegun Obasanjo, which lasted from 2003 to 2006; again, during the presidency of Goodluck Jonathan, which lasted from 2011 to 2015. After that, she held the position of Nigeria’s Minister of Foreign Affairs from June 2006 to August of the same year. She was honored with the title of Global Finance Minister of the Year by Euromoney in 2005.
Queen’s School in Enugu, St. Anne’s School in Molete, Ibadan, Oyo State, and the International School in Ibadan were Okonjo-Iweala’s educational institutions of choice. She came to the United States in 1973 to attend Harvard University, from which she received a magna cum laude degree in Economics in 1976.
She attended the Massachusetts Institute of Technology and received a master’s degree in city planning in 1978 and a doctorate in regional economics and development in 1981 with the thesis Credit Policy, rural financial markets, and Nigeria’s agricultural growth. The American Association of University Women (AAUW) made her Ph.D. studies possible by awarding her a grant that allowed her to travel internationally.
Okonjo-Iweala worked as a development economist at the World Bank in Washington, District of Columbia, for 25 years. During that time, she advanced through the ranks to become the No. 2 Managing Director of Operations. As managing director, she was responsible for overseeing the operational portfolio of the World Bank, which was worth 81 billion dollars and included projects in Africa, South Asia, Europe, and Central Asia.
During the global food and financial crises that began in 2008 and continued into 2009, Okonjo-Iweala was at the helm of several World Bank projects designed to aid low-income nations. She was chairperson of the International Development Association (IDA) replenishment in 2010 when the World Bank completed its campaign to raise $49.3 billion in grants and low-interest lending for the world’s poorest nations.
While working for the World Bank, she was also a member of the Commission on Effective Development Cooperation with Africa. This commission was established by the Prime Minister of Denmark, Anders Fogh Rasmussen, and it had sessions between April and October of 2008.
Okonjo-Iweala has held the position of Nigeria’s Minister of Finance not once but twice (2003–2006 and 2011–2015), and she also served as Nigeria’s Acting Minister of Foreign Affairs in 2006. She broke the glass ceiling by becoming the first woman ever to occupy both posts. She handled discussions with the Paris Club that resulted in the cancellation of US$18 billion of Nigeria’s debt during her first tenure as Finance Minister in the government of President Olusegun Obasanjo. These negotiations led to the cancellation of US$30 billion of Nigeria’s debt.
2003 was the year when she spearheaded the charge to reform Nigeria’s macroeconomic management, which included establishing a fiscal rule dependent on the price of oil. When revenues accumulated that were higher than a reference benchmark oil price, they were placed in a unique account called the “Excess Crude Account,” which helped limit the volatility in the macroeconomic environment.
Okonjo-Iweala was also essential in assisting Nigeria in obtaining its first-ever sovereign credit rating (of BB minus) 2006 from Fitch Ratings and Standard & Poor’s. This rating was awarded to Nigeria by both of these rating agencies. In addition to this, she was the one who initiated the practice of disclosing the percentages of income received by the federal, state, and municipal governments from the country’s national account.
This move significantly contributed to an increase in the degree of openness in governance across all levels of government, most notably at the subnational level. After serving her first term as Minister of Finance, she was appointed Minister of Foreign Affairs in 2006 and held that position for two months. In December 2007, she was rehired by the World Bank in the capacity of Managing Director.
|House address (residence address)||Ogwashi-Ukwu, Nigeria|
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Ngozi Okonjo-Iweala Phone Number: +07039743363
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