Ngozi Okonjo-Iweala

Ngozi Okonjo-Iweala: Biography Ngozi Okonjo-Iweala (born June 13, 1954, in Ogwashi-Uku, Delta State, Nigeria) is a highly distinguished Nigerian-American economist, development expert, and international finance professional. She is globally recognized for her decades of work in governance, finance, and diplomacy, particularly serving two terms as Nigeria's Minister of Finance and for her leadership roles at the World Bank. Early Life and Education Okonjo-Iweala was born into the royal family of Ogwashi-Uku, where her father, Professor Chukwuka Okonjo, was the traditional ruler (Obi) of the community. She had her early education at Queen’s School, Enugu, and St. Anne’s School, Molete, Ibadan. She moved to the United States as a teenager to continue her education, graduating magna cum laude with an A.B. in economics from Harvard University in 1976. In 1981, she earned her Ph.D. in regional economics and development from the Massachusetts Institute of Technology (MIT), where she also conducted post-doctoral research. Career Progression Okonjo-Iweala spent 25 years at the World Bank, rising to the position of Managing Director of Operations, where she oversaw the World Bank’s $81 billion operational portfolio in Africa, South Asia, Europe, and Central Asia. She left the World Bank in 2003 to serve as Nigeria’s Minister of Finance (2003–2006) under President Olusegun Obasanjo. During this time, she led negotiations with the Paris Club of creditors that resulted in the cancellation of $30 billion of Nigeria’s external debt. She returned to the World Bank as Managing Director from 2007 to 2011. In 2011, she was appointed Nigeria's Minister of Finance and Coordinating Minister for the Economy (2011–2015) under President Goodluck Jonathan. In this second term, she championed landmark reforms, including the implementation of the Integrated Personnel and Payroll Management System (IPPIS) to reduce corruption in the public sector. Following her ministerial career, she served on numerous high-profile international boards and committees, including the Asian Infrastructure Investment Bank and the Rockefeller Foundation. Major Achievements and Notable Works Okonjo-Iweala’s career is marked by several significant achievements. Her primary contribution to Nigeria was securing the debt relief deal from the Paris Club, a move that significantly improved the country's economic standing. She is also credited with introducing greater fiscal transparency and professionalizing the Nigerian Ministry of Finance. Internationally, she has been a leading advocate for poverty reduction and economic empowerment in developing nations. Her notable works include her books, *Reforming the Unreformable: Lessons from Nigeria* (2012) and *Fighting Corruption is Dangerous: The Story Behind the Headlines* (2018). She has received numerous awards, including being named one of the 100 Most Influential People in the World by *Time* magazine. Current Status In March 2021, Ngozi Okonjo-Iweala made history when she became the first woman and the first African to serve as the Director-General of the World Trade Organization (WTO). In this capacity, she leads the global body responsible for regulating international trade, focusing on issues such as trade disputes, intellectual property rights, and adapting global trade rules for the 21st century.