Nigeria: World Bank Managing Director, Dr Ngozi Okonjo-Iweala to accept ministerial position
By Correspondent Chinyere Ogbonna: The World Bank Managing Director, Dr Ngozi Okonjo-Iweala is expected to resign from her position at the bank mid August to take up a senior post as coordinating Minister for Nigeria’s economy and Minister of Finance in President Goodluck Jonathan’s cabinet.
World Bank in a statement signed by its President, Robert Zoellick says her desire to serve her country is truly a big loss for the World Bank but a major gain for Nigeria as it works to craft its economic way forward.
During her screening by the Nigerian Senate last Wednesday, Dr Okonjo-Iweala laid out her vision for the country’s economy with emphasis on job creation if approved as a member of President Goodluck’s Cabinet.
Prior to accepting the position of Managing Director at the World Bank in 2007, Dr Okonjo-Iweala was a distinguished visiting fellow at the Brookings Institution, Washington, D.C. from July 2003 to June 2006; she served as Finance Minister of Nigeria and later, the Foreign Affairs Minister.
As Minister of Finance, she spearheaded negotiations with the Paris Club of Creditors in 2005 that led to the wiping out of Nigeria’s 30 billion dollar external debt.
