World Trade Organisation (WTO) Director General, Ngozi Okonjo-Iweala, has emphasized the need for consistent economic and social policies in Nigeria, regardless of changes in administration.
Speaking at the opening of the 2024 Nigerian Bar Association (NBA) Annual General Conference in Lagos, she advocated for the continuation and enhancement of policies to ensure sustained progress.
Addressing the audience at Eko Hotel & Suites, Okonjo-Iweala, a distinguished economist and former Nigerian finance minister, warned against the “not-in-my-administration syndrome,” where new governments discard beneficial policies from previous administrations.
She argued that certain key policies should remain unchanged to promote stability and growth.
She called for a national social contract, urging Nigerians across political and social divides to agree on essential policies that should be preserved regardless of political transitions.
Okonjo-Iweala suggested these policies should undergo public scrutiny and be enshrined in law to ensure their longevity.
“Protect Key Institutions”
The WTO chief also highlighted the importance of safeguarding national institutions, especially the Central Bank of Nigeria (CBN).
She cautioned against political interference, such as manipulating interest and exchange rates or overstepping the Central Bank’s fiscal responsibilities, as these actions could lead to inflationary pressures.
Okonjo-Iweala further recommended that the provision of critical infrastructure and social safety nets for vulnerable populations be part of the proposed social contract, while stressing the necessity of an independent judiciary.
She concluded by urging the Nigerian Bar Association to hold the government accountable and ensure the implementation of these principles to foster a stable and thriving nation.
The conference, themed ‘Pressing Forward: A National Posture to Rebuilding Nigeria,’ attracted notable attendees, including Ghana’s former President John Mahama and several high-ranking Nigerian officials, both in person and through representatives.
