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Okonjo-Iweala Laments State Of Nigeria Economy, Says Nigeria Need Social Contract

Elizabeth Morgan by Elizabeth Morgan
August 26, 2024
in Featured, News
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AFCON: Let’s Get It Done – Ngozi Okonjo-Iweala Messages Super Eagles

Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation (WTO)

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In her keynote address at the Nigerian Bar Association’s Annual General Conference in Lagos, Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation (WTO), expressed grave concern about Nigeria’s developmental progress. Speaking on “Pressing Forward: A National Posture for Rebuilding Nigeria,” Okonjo-Iweala lamented that Nigeria, more than 60 years after gaining independence, has not achieved the expected level of development.
She emphasized the need for consistent policy implementation, criticizing the frequent abandonment of effective policies with each change in administration. Okonjo-Iweala advocated for a “social contract”—a foundational agreement across political parties and societal groups to safeguard essential policies by embedding them in law or the Constitution. This approach aims to ensure stability and continuity despite political changes.
Furthermore, she denounced the politicization of security, noting that it has exacerbated Nigeria’s current challenges. Okonjo-Iweala urged for a unified approach to governance and the protection of national assets, stressing that collaborative and consistent strategies are crucial for Nigeria’s progress.
In her remarks, she underscored that the focus should shift from assigning blame to implementing concrete solutions for both current and emerging issues. She clarified that her intention was not to castigate but to propose a positive direction for the country. According to Okonjo-Iweala, establishing a social contract would help build a foundation for sustainable reform, growth, and trust, which have long been elusive for Nigeria.

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