Announcements News

Ngozi Okonjo-Iweala Celebrates Reappointment as WTO Director-General, Commits to Global Trade Reforms

 

Dr. Ngozi Okonjo-Iweala, a global icon and a source of pride for Nigeria, has expressed deep gratitude following her reappointment as Director-General of the World Trade Organization (WTO). Her heartfelt message, shared on Twitter, resonated across the world as she thanked the 166 WTO member nations for their unanimous support, while reaffirming her commitment to reforming global trade to meet modern challenges.

“Today, it is with humility and a great sense of honour that I thank each and every one of the 166 WTO members for the consensus they achieved in supporting my reappointment!” Dr. Okonjo-Iweala wrote. “Thank you for the wonderful words of recognition and support. I don’t take this lightly.”

The first woman and African to lead the WTO, Dr. Okonjo-Iweala acknowledged the pivotal role played by the organization’s Secretariat staff, whose dedication and hard work she described as indispensable. She pledged to continue collaborating with member states to address pressing global trade challenges and to push forward much-needed reforms.

“This is an enormous responsibility, and I will redouble my efforts to work with each and every member to try and deliver the results this organization needs, including the necessary reforms to make it fit for 21st-century challenges,” she continued. “We’ve done it before; we can do it again!”

Beyond her professional achievements, Dr. Okonjo-Iweala took a moment to reflect on the personal support that has sustained her journey. She extended her gratitude to her family, the people of Nigeria, the African continent, and friends and colleagues worldwide, who flooded her with congratulatory messages.

“I am also grateful to my family, my country, to the Africa Region, and to all my friends and colleagues from all over the world who have reached out with hundreds of congratulatory messages. Thank you for the recognition!”

Dr. Okonjo-Iweala’s reappointment marks a significant moment, not just for Nigeria but for global governance, as she continues to lead efforts in transforming the WTO to tackle 21st-century economic and trade challenges. Her story is a testament to resilience, vision, and the power of diplomacy, inspiring millions worldwide and reinforcing Africa’s vital role in shaping global policies.

Her commitment to ensuring that the WTO delivers meaningful results signals her resolve to champion inclusivity, transparency, and innovation in global trade—a mission she carries with humility and an unwavering sense of purpose.

 

Leave a Comment

Your email address will not be published.

You may also like

Announcements Business Economy Energy

Port-Harcourt Refinery Up, Running, NNPC Insists

post-image

 

 

 

…Invites Doubters for Facility Tour

 

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has insisted that the Old Port Harcourt Refinery is up and running, with loading operations in full swing.

The Group Chief Executive Officer, Mr. Mele Kyari, gave the confirmation at the commissioning of the NUPENG Towers in Lagos on Wednesday.

In a goodwill message at the event, Kyari extended invitation to human rights activist and lawyer, Mr. Femi Falana, and all those in doubt, to join the NNPC Ltd on a tour of the refineries in Port Harcourt, Warri, and Kaduna to verify their status.

He also shed light on the controversy around products blending, stating that blending was not a crime as it is an integral part of the refining process.

“If you don’t blend, you will bring out off-spec products which will destroy your vehicles. Every refinery blend because what is on specification in the United States of America…

Read More
Announcements Business Culture Economy

Businesses Decry Harassment and Multiple Regulatory Bottlenecks in Lagos

post-image

 

Lagos manufacturers are raising their voices against the harassment and bottlenecks they face from multiple regulators and agencies in the state. The outcry follows a viral video showing a man destroying a delivery van loaded with sachet water, popularly called “pure water,” intended for a customer. The incident has sparked widespread criticism and concern among stakeholders in the business community.

One of the prominent voices speaking against this troubling trend is Engr. Roberta Edu, CEO of Moppets Baby Food, a Lagos-based infant food manufacturing firm. Reacting to the video, Edu described it as a reflection of the “huge regulatory gap” plaguing the Nigerian business environment.

“The viral video showing a man destroying sachet water in a van that was out for delivery highlights the huge regulatory gap we have in the country,” she lamented. “Now, NAFDAC has denied their involvement, and Lagos State Environment has also distanced themselves from this act.”

Edu…

Read More
Business Culture Economy Government

Proposed Tax Reform Sparks Nationwide Debate

post-image

 

The recently proposed tax reform bills in Nigeria have stirred intense discussions among citizens and stakeholders. While some Nigerians commend the initiative as a step toward a fairer tax system, others express concerns about its potential economic impact. The bill, which introduces significant changes to the country’s tax structure, aims to implement a progressive tax regime that ensures individuals and businesses contribute to national revenue based on their earnings.

Under the proposed framework, individuals earning up to ₦800,000 annually will be exempt from paying taxes, providing relief to low-income earners. For those earning above this threshold, the tax rate gradually increases based on their income level. The next ₦2,200,000 of income will be taxed at 15%, followed by 18% for the subsequent ₦9,000,000. Higher earners will pay 21% on the next ₦13,000,000, while those with incomes exceeding ₦25,000,000 will face a 23% tax rate. For the wealthiest individuals with annual…

Read More
Business Fintech Society

CBN Mandates N50 Levy on Transfers Over N10,000: PalmPay Adapts to New Policy

post-image

 

The Central Bank of Nigeria (CBN) has enforced a directive requiring financial institutions to impose a ₦50 Electronic Money Transfer Levy (EMTL) on transactions of ₦10,000 and above. The regulation, introduced in 2022, is gaining traction as financial institutions adjust to ensure compliance.

PalmPay, a leading fintech platform, has announced its alignment with this policy. Effective from November 30, 2024, transfers of ₦10,000 or more paid into PalmPay accounts will attract the ₦50 levy, as mandated by the Federal Inland Revenue Service (FIRS).

In a statement, PalmPay emphasized that it does not benefit from the levy, explaining that all proceeds are remitted directly to the federal government. The company reassured customers of its commitment to affordable financial services, stating, “PalmPay continues to offer unlimited free transfers to any bank account. We are dedicated to providing affordable and accessible financial services to our valued customers.”

This development reflects the growing impact of the…

Read More
Business

Governor Soludo Welcomes Apostolic Nuncio to Nigeria, Reflects on Irish Missionary Legacy

post-image

 

The Governor of Anambra State, Prof. Charles Chukwuma Soludo, yesterday extended a warm reception to the newly appointed Apostolic Nuncio to Nigeria and Ambassador of the Vatican City, Most Rev. Michael Francis Crotty. The high-profile meeting took place at the Governor’s Lodge in Amawbia, underscoring the state’s deep-rooted connection to the Catholic Church and its leadership.

Most Rev. Crotty, an Irish prelate with a distinguished diplomatic career, was welcomed with open arms by Governor Soludo, who seized the occasion to honor the historic contributions of Irish missionaries to the growth of Christianity in Nigeria. The Governor spoke passionately about the invaluable sacrifices made by early church emissaries, particularly Irish priests, who dedicated their lives to spreading the gospel and establishing Catholic institutions across the eastern region of the country.

In his address, Governor Soludo highlighted the legacy of the Shanahan family and other Irish clergy, whose work laid the foundation for…

Read More
Business Economy Government

Nigeria Data Protection Commission (NDPC) and Hon. Adedeji Stanley Olajide Empower Over 1,000 Youths with Data Protection and Digital Literacy Training in Ibadan

post-image

 

 

In an effort to equip Nigeria’s youth with essential knowledge on data protection and digital literacy, the Nigeria Data Protection Commission (NDPC), in collaboration with Hon. Adedeji Stanley Olajide, the Chairman of the House Committee on Digital and Information Technology, hosted a five-day training in Ibadan. The event, which saw over 1,000 young Nigerians participate, marks a significant milestone in the country’s push to promote digital awareness and data privacy practices.

Held across multiple locations in Ibadan, the training was designed to provide participants with a deeper understanding of how to protect their personal data in today’s digital world. The initiative is part of the NDPC’s ongoing efforts to raise awareness and build a data-conscious society, especially as more people engage with online platforms.

Representing the National Commissioner and CEO of the NDPC, Dr. Vincent Olatunji, Mrs. Abiola Jide-Abe, the Commission’s Head of Strategic Planning and Communication, shared the Commission’s strong…

Read More
Business Economy Gadgets Government Technology Technology Trends Telecoms

NCC Launches Licensing Framework for Application-To-Person (A2P) Services, Invites Stakeholder Participation

post-image

 

 

The Nigerian Communications Commission (NCC) has officially rolled out its much-anticipated Licensing Framework for Application-To-Person (A2P) services, a move that promises to bring greater structure and transparency to the rapidly evolving telecom industry. The framework, which has been carefully crafted in line with the provisions of the Nigerian Communications Act (NCA) of 2003, was made available for public access on the Commission’s official website, www.ncc.gov.ng, as of November 29, 2024.

The A2P service model plays a crucial role in facilitating automated communication between businesses and their customers, typically for notifications, alerts, and marketing messages. This framework is designed to regulate how such services are delivered, ensuring that the process is seamless, efficient, and compliant with existing laws. By setting clear guidelines, the NCC aims to foster a more reliable and transparent ecosystem for both service providers and consumers.

In an effort to engage…

Read More
Autos Business Culture Economy

Peugeot 504: A Timeless Classic That Defined an Era

post-image

 

First introduced in 1968, the Peugeot 504 has earned its place as one of the most iconic and enduring vehicles in automotive history. With production spanning over three decades, including localized manufacturing in some regions until 2006, the 504 left an indelible mark on the global car market. Known for its robust design, elegant styling, and versatility, it quickly became a symbol of reliability and class.

Available in multiple body styles—sedan, coupe, convertible, wagon, and pickup—the Peugeot 504 catered to a diverse range of drivers. Under the hood, the car offered a variety of engine options, from petrol to diesel, with capacities ranging from 1.8 to 2.7 liters. The diesel variants were particularly celebrated for their efficiency and durability, making the 504 a trusted companion in regions with challenging conditions, such as Africa and South America.

Designed by the renowned Italian firm Pininfarina,…

Read More