Happy, sad and confused, I saw the news flash on Channels TV that Nigeria’s Finance Minister Dr. Ngozi Okonjo-Iweala is nominated for the position of world bank’s president. This is a good achievement for the GEJ administration before May 29 if it should work out. Nigeria has been known for all the negative news this year and this might just be the beginning of good things to come. You agree because we need to support our own this time so our economy can see the reality of life.
Okonjo-Iweala has been in the World Bank doing great for herself which had always made her favorite for the top position. The World Bank has gone through rough phases in recent years due to reduced circulation of money. It has enjoyed the backing of the U.S who has been its biggest spinal cord and survived through campaigns like ‘50 years is enough’ which has become abortive.
The next World Bank president will be announced soon but many have argued who’s the best candidate for the job with both leading candidates for the first time coming from developing countries. Both Jim Yung Kim and Ngozi Okonjo Iweala both came from Korea and Nigeria respectively.
Dr. Kim might have enjoyed the backing of Barack Obama for the position, the vision of its shareholders remains the top priority to reduce poverty and support development. He’s had most of his experiences in the public sector fighting HIV but his ability to group and delegate people for projects puts him top for the job.
Unlike his counterpart, Okonjo-Iweala has enjoyed the backing of the African Union for the top position. She has been in the World Bank with most of her active roles being on economic reform in Africa. With the world bank going through reforms, many would argue that Aunty Ngozi deserves the position to eradicate poverty and support development with her ability in Financial reforms, job creations etc.
Ringing the name Okonjo-Iweala in Nigeria’s politics might be on silent before July 2003 until she was appointed finance minister in the OBJ administration. With major achievements like clearing the heap of debt in Paris club brought a huge relief to the nation. She took to her heels when her ministry was changed and joined the last train back to the World Bank.
Her legacy left many clamoring for women in politics, so it was a public appeal when Mr. President brought her back into the government. Same old bottle with a new wine, she started her position with hopes high. When she came out with her idea of revitalizing the economy, she gained a lot of fans but as soon as the break down was given, the applause died down with everyone counting their loss.
The Occupy Nigeria is still a protest the FG has not recovered from and they worry what might happen if another economic reform is done. Instead of diversifying the economy, she supported in removing fuel subsidy in its downstream sector. A fantastic idea which was never evaluated in terms of its citizens and the reality on ground has made a lot think the once sheep is now a wolf.
Aunty Ngozi’s CV for this position will be the Nigerian people who have suffered from her policies which are sweet in paper to carry out but do not fit into the reality of the situation of the country.
The Obama administration may have supported Aunty and GEJ during the oil subsidy protest. Looking back and feeling the agony on Nigerians faces with the zeal to say NO to their suffering. The whole accolades might be sweet talking and politics to increase their own merchandize.
Now that it’s the time for her to champion such a course in the World Bank, the U.S might come to her reality. With the whole economic situation of the world, a mistake at the TOP bank might cause a ripple on the world’s finances but it’s not like the Laboratory Approach of Jim Yung Kim will work in this situation. As April 16 ticks, we wish Aunty Ngozi good luck (at least they are good friends) at her new appointment.