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Ngozi Okonjo-Iweala, the Director General of the World Trade Organisation, is championing a cause for policy consistency in Nigeria, unshackled from the constraints of administrative changes. Her vision is for a nation where effective policies are nurtured and continued, regardless of who’s at the helm.
Ngozi Okonjo-Iweala, a distinguished developmental economist and style icon, known for her bold African print fashion statements and distinctive headwraps, presented a keynote address, “A Social Contract for Nigeria’s Future,” at the Nigerian Bar Association’s 2024 Annual General Conference opening ceremony on Sunday.
“Maintaining good economic and social policies; maintaining policy consistency and adding more reforms on top of that will lead us along the path of good progress that we all desire,” she told a room filled with lawyers at the Eko Hotel & Suites in Lagos on Sunday.
Ngozi Okonjo-Iweala, former Nigerian finance minister, lamented the prevalence of a mindset she termed the “not-in-my-administration syndrome” in the country’s governance, which she believes has hindered Nigeria’s economic progress, leading to underwhelming results.
The former finance minister stressed that Nigeria requires a comprehensive social contract that transcends partisan divisions, uniting all Nigerians in a shared commitment to the country’s development and progress.
She argued that certain core policies should be insulated from the fluctuations of political power, providing a stable framework for Nigeria’s long-term development and growth.
Read also: Why Ndigbo Lost Faith In Governance – Okonjo-Iweala
She said some of these policies should be made into law after being scrutinised by the public.
Okonjo-Iweala said maintaining policy consistency and adding more reforms on top of that will along the path of good governance that we all desire.
According to her, the security of lives and national assets should be prioritised in the social contract, adding that basic organs of the economy should be left to work independently.
“No one should tamper with the Central Bank asking for the manipulation of interest rates or exchange rates. Do not use the Central Bank as a fiscal agent asking for the printing of naira beyond agreed Ways and Means limits as this can fuel inflation,” she added.
Okonjo-Iweala proposed that the social contract should encompass three essential elements, including the provision of basic infrastructure, such as roads, electricity, and water, to foster economic growth and improve living standards.
Okonjo-Iweala stressed that the social contract should prioritize the judiciary’s independence as its fourth pillar, enabling the fair administration of justice, and challenged the NBA to steadfastly hold the government accountable for its actions.
She envisioned a social contract as the cornerstone of a prosperous Nigeria, where citizens and residents can build secure lives, pursue opportunities, and thrive in a stable and supportive environment.
The event with the theme, ‘Pressing Forward; A National Posture to Rebuilding Nigeria’, featured stellar personalities at home and abroad.
The event was graced by esteemed guests, including former Ghanaian President John Mahama and Nigeria’s Court of Appeal President, Justice Monica Dongban-Mensem, who attended in person, while President Bola Tinubu was represented by Vice President Kashim Shettima.
The gathering was further dignified by the representation of prominent leaders, including the Acting Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun, Senate President Godswill Akpabio, and House of Representatives Speaker Tajudeen Abbas, who were represented by their respective delegates.
