The Director General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has emphasized the importance of maintaining consistent policies in Nigeria, regardless of changes in government administration.
Speaking at the opening ceremony of the 2024 Annual General Conference of the Nigerian Bar Association (NBA) at the Eko Hotel & Suites in Lagos, Okonjo-Iweala stressed that consistent and effective economic and social policies, coupled with additional reforms, are key to driving Nigeria’s progress.
Her keynote address, titled “A Social Contract For Nigeria’s Future,” highlighted the need for a unified approach to governance that transcends political changes.
The former Nigerian finance minister, renowned for her signature African print outfits and distinctive headgear, criticized the prevalent “not-in-my-administration syndrome” in Nigerian governance. She argued that this mindset has contributed to the country’s economic challenges, as new administrations often discard the policies of their predecessors.
Okonjo-Iweala called for the establishment of a social contract in Nigeria, where citizens and political leaders agree on essential policies that should remain unchanged, regardless of who is in power.
She suggested that such policies be enshrined in law after thorough public consultation, ensuring their stability across different administrations.
She also warned against political interference in key economic institutions, particularly the Central Bank of Nigeria (CBN).
Okonjo-Iweala cautioned against manipulating interest or exchange rates and urged that the Central Bank should not be used as a fiscal tool for printing money beyond agreed limits, as this could exacerbate inflation.
Additionally, she outlined the importance of prioritizing national security, protecting national assets, and ensuring the independence of the judiciary.
She advocated for a robust social safety net for vulnerable populations and the provision of basic infrastructure as critical components of the proposed social contract.
Okonjo-Iweala called on the NBA to play an active role in holding the government accountable, emphasizing that a strong and independent judiciary is crucial for upholding the rule of law in Nigeria.
She concluded that a well-crafted social contract would lay the groundwork for a stable and prosperous Nigeria, where citizens and residents can thrive, regardless of political changes.
The event, themed “Pressing Forward; A National Posture to Rebuilding Nigeria,” featured prominent figures from Nigeria and beyond. Former Ghanaian President John Mahama, Vice President Kashim Shettima (representing President Bola Tinubu), and the President of the Court of Appeal of Nigeria, Justice Monica Dongban-Mensem, were among the distinguished guests in attendance. Other notable figures included Acting Chief Justice of Nigeria Justice Kudirat Kekere-Ekun, Senate President Godswill Akpabio, and House of Representatives Speaker Tajudeen Abbas.
