“Okonjo-Iweala Urges Nigeria to Enhance Diversification, Attract Investments, and Bolster Trade Surplus”


Ngozi Okonjo-Iweala, the Director-General of the World Trade Organisation (WTO), emphasized the importance of Nigeria’s continued efforts to diversify its economy, attract investments, and strengthen its trade surplus.

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Speaking to reporters following a meeting with the Duchess of Sussex, Meghan Markle, and other prominent women at the Nigerian Women in Leadership event in Abuja, Okonjo-Iweala highlighted Nigeria’s trade deficit, which amounted to N1.41 trillion between October and December 2023, as reported by the National Bureau of Statistics (NBS).

During this period, Nigeria’s exports reached N12.69 trillion, while imports stood at N14.11 trillion, resulting in the aforementioned deficit. Okonjo-Iweala emphasized the need for Nigeria to enhance its attractiveness to both domestic and foreign investors by creating conducive environments for investment. She stressed that leveraging initiatives like the African Continental Free Trade Area could significantly contribute to achieving a trade surplus.

In addition to economic matters, Okonjo-Iweala addressed the challenges faced by women in leadership positions in Nigeria. She underscored the necessity of empowering women to support themselves and advance their roles in society. Okonjo-Iweala advocated for increasing the representation of women in leadership positions at both state and federal levels, highlighting the importance of collective efforts in achieving gender parity.

Reflecting on the discussions during the event, Okonjo-Iweala noted the importance of finding solutions to address the barriers hindering women’s progress in leadership roles. She acknowledged the presence of many accomplished women leaders at the event, emphasizing the need for continued support to further enhance their impact.

Okonjo-Iweala highlighted the Duchess’s insights as a key highlight of the event, underscoring the significance of shared experiences in fostering meaningful dialogue and progress.

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