Who Is Dr Ngozi Okonjo Iweala

Dr Ngozi Okonjo Iweala is a remarkable woman who has had an outstanding career in finance and economics. She is a Nigerian-American economist, international development expert, and former finance minister of Nigeria. She is also a two-time Minister of Finance in Nigeria and the first woman to hold the position in the country.

Dr. Okonjo-Iweala is a recognized expert on finance and economic development. She is a co-chair of the Global Commission on the Economy and Climate and has served on various international boards and commissions. Dr. Okonjo-Iweala has received numerous awards for her contributions to the field of economics and finance. In 2021, she became the first woman and first African to be appointed as the Director-General of the World Trade Organization.

In this article, we will delve into Dr. Okonjo-Iweala's life, career, and achievements.

Early Life and Education

Dr. Ngozi Okonjo-Iweala was born on June 13, 1954, in Ogwashi-Ukwu, Delta State, Nigeria. Her parents, Professor Chukwuka Okonjo, and Kamene Okonjo were both educators. Dr. Okonjo-Iweala attended Queen's School, Enugu, Nigeria, before proceeding to Harvard University, where she earned a Bachelor of Arts degree in Economics. She later obtained a Ph.D. in Regional Economics and Development from the Massachusetts Institute of Technology (MIT).

Career

Dr. Okonjo-Iweala's career began at the World Bank, where she worked for 21 years, rising to the position of Vice President and Corporate Secretary. She left the World Bank in 2003 to serve as Nigeria's Finance Minister under President Olusegun Obasanjo.

As Finance Minister, Dr. Okonjo-Iweala implemented various reforms that helped to stabilize Nigeria's economy, reduce poverty, and increase transparency in government. She also successfully negotiated the cancellation of Nigeria's external debt and worked to improve Nigeria's credit rating.

Dr. Okonjo-Iweala returned to the World Bank in 2007, where she served as Managing Director until 2011. In 2012, she was reappointed as Nigeria's Finance Minister by President Goodluck Jonathan.

During her second stint as Finance Minister, Dr. Okonjo-Iweala implemented reforms that helped to reduce corruption in government and boost economic growth. She also played a key role in negotiating Nigeria's first Sovereign Wealth Fund.

After leaving the Nigerian government in 2015, Dr. Okonjo-Iweala served on the board of various international organizations, including Gavi, the Vaccine Alliance, and the African Risk Capacity (ARC). She also served as Chair of the board of the Global Alliance for Vaccines and Immunization (GAVI).

Achievements

Dr. Okonjo-Iweala's achievements are numerous and impressive. She is credited with leading Nigeria's efforts to secure debt relief from the Paris Club of creditors in 2005, which helped to reduce the country's external debt by $18 billion.

As Finance Minister, Dr. Okonjo-Iweala implemented various reforms that helped to reduce corruption in government and improve economic growth. She was also instrumental in negotiating Nigeria's first Sovereign Wealth Fund, which was created to save and invest the country's oil revenues.

In 2021, Dr. Okonjo-Iweala became the first woman and first African to be appointed as the Director-General of the World Trade Organization (WTO). Her appointment was widely celebrated as a historic moment for women and Africa.

Personal Life

Dr. Okonjo-Iweala is married to Dr. Ikemba Iweala, a neurosurgeon. The couple has four children together.

Final Thoughts

Dr. Ngozi Okonjo-Iweala is a woman of extraordinary achievements who has dedicated her life to improving the economics and finance of Nigeria and the world. Her work has helped to reduce poverty, increase transparency, and boost economic growth in Nigeria and other parts of the world. Her appointment as the Director-General of the WTO is a testament to her exceptional leadership skills and expertise in finance and economics. Dr. Okonjo-Iweala is a true inspiration to women and young girls all over the world who aspire to make a difference in their respective fields.