Dr (Mrs) Ngozi Okonjo-Iweala GCON (born 13 June 1954) is a prominent Nigerian economist who has been the Director-General of the World Trade Organization (WTO) since March 2021.
In 2020, Nigeria’s former President Muhammadu Buhari nominated her as the country’s candidate for the WTO’s Director General. She was unanimously appointed DG on February 15, 2021, starting her role on March 1, 2021. She also co-chairs the G20 High-Level Independent Panel on financing for pandemic preparedness and response.
Mrs Iweala made history as the first woman and African to lead the organization at that level. She was re-elected to her second term in December 2024 still unopposed and will continue to serve until 2030.
She holds Nigeria’s second highest honorary award of Grand Commander of the Order of the Niger (GCON), – an honor usually reserved for Nigerian vice presidents.
Personal Life History
Mrs Okonjo-Iweala was born in Ogwashi-Ukwu, Delta State, Nigeria, where her father, Professor Chukwuka Okonjo, was the king of the Obahai royal family. She had a stellar education, attending Queen’s School in Enugu, St. Anne’s School in Ibadan, and the International School in Ibadan.
She then moved to the United States, studying economics at Ivy League Harvard University, where she graduated magna cum laude in 1976. She earned Master’s and PhD degrees in city planning and regional economics from the Massachusetts Institute of Technology (MIT).
Okonjo-Iweala is married to neurosurgeon Dr Ikemba Iweala from Umuahia in Abia State. They have four children: three sons and a daughter, Uzodinma Iweala – a medical doctor and award-winning author of “Beasts of No Nation“. Okechukwu, a graduate of Social Studies from Harvard University; Uchechi Iweala, an Orthopedic surgeon and spine surgery specialist at Catonsville, Columbia and Eldersburg; and Ms Onyinye Iweala – the only daughter, assistant professor of rheumatology, USA.
Mrs Iweala is also a United States citizen since 2019 after working and studying there for several decades.
Career
Okonjo-Iweala has held numerous board positions in various prestigious organizations, including Danone, Standard Chartered Bank, and the Carnegie Endowment for International Peace. She previously served on the Board of Directors of Twitter (now X) before stepping down in February 2021 to focus on her role at the WTO. Additionally, she is a non-resident distinguished fellow at the Brookings Institution and has been involved in global initiatives focused on economic and climate issues.
Her 25-year career at the World Bank included rising to Managing Director for Operations from 2007 to 2011. In this role, she was responsible for the Bank’s extensive operational portfolio across various regions and was crucial during the 2008-2009 food and global financial crises. Okonjo-Iweala chaired the drive to raise $49.3 billion in grants and low-interest credits for the world’s poorest countries.
In Nigerian politics, she served two terms as the Finance Minister, from 2003 to 2006 under President Olusegun Obasanjo and again from 2011 to 2015 under President Goodluck Jonathan. During her first term, she led negotiations with the Paris Club that resulted in the cancellation of $30 billion in Nigerian debt. She also introduced measures to improve Nigeria’s macroeconomic management and transparency in government revenues.
Achievements and Legacy
In recognition of her achievements, she was named Global Finance Minister of the Year by Euromoney in 2005. Okonjo-Iweala briefly served as Nigeria’s Minister for Foreign Affairs in 2006.
Ngozi Okonjo-Iweala’s legacy includes significant advancements in Nigeria’s public financial systems and the housing sector, particularly with the establishing of the Nigerian Mortgage Refinance Corporation (NMRC) in 2013. Under her tenure, the National Bureau of Statistics conducted a major re-basing of Nigeria’s Gross Domestic Product (GDP), marking the first such effort in 24 years and positioning Nigeria as Africa’s largest economy.
She also initiated the Growing Girls and Women in Nigeria Programme (GWIN) and the Youth Enterprise with Innovation Programme (YouWIN), which empowered women and youth and created thousands of jobs. During Goodluck Jonathan‘s administration, she faced threats and the kidnapping of her mother while attempting to reform Nigeria’s fuel subsidy payments.
In addition to her government work, Okonjo-Iweala served on the Commission on Growth and Development, co-chaired the Global Partnership for Effective Development Cooperation, and was a candidate for President of the World Bank in 2012. After leaving government, she became a member of the International Commission on Financing Global Education Opportunity and co-chaired the Global Commission for the Economy and Climate. She also chaired the Board of Gavi, the Vaccine Alliance, from 2016 to 2020.
Okonjo-Iweala founded Nigeria’s first indigenous opinion research organization, NOI-Polls, and established the Centre for the Study of the Economies of Africa (C-SEA). Since 2019, she has contributed to UNESCO’s International Commission on the Futures of Education and served on the High-Level Council on Leadership & Management for Development of the Aspen Management Partnership for Health.
Recognition and Awards
Okonjo-Iweala has received numerous honours, including being listed as one of the “50 Greatest World Leaders” (Fortune, 2015) and in the “Top 100 Most Influential People in the World” (TIME, 2014, 2021). She is also a member of the American Academy of Arts and Sciences (2019) and has received high national honours from Côte d’Ivoire, Liberia, and Nigeria. Other notable awards include the Finance Minister of the Year award from various organizations in 2005, the Global Leadership Award (2010), and the African of the Year award (2020) from Forbes Africa.
Other Activities
Government Agencies
- Japan International Cooperation Agency (JICA), Member of the International Advisory Board (2017-present)
International Organizations
- Asian Infrastructure Investment Bank (AIIB), International Advisory Panel Member (2016-present)
- OECD/UNDP Tax Inspectors Without Borders (TIWB), Board Member
- GAVI, Chair of the Board (2016–2020)
- African Development Bank (AfDB), Ex-Officio Board Member (2003–2006, 2011–2015)
- International Monetary Fund (IMF), International Monetary and Finance Committee Member (2003–2006, 2011–2015)
- Joint World Bank-IMF Development Committee, Chair (2004)
Corporate Boards
- Danone, Mission Committee Member (2020-present)
- Twitter, Board of Directors Member (2018-present)
- Standard Chartered, Independent Non-executive Board Member (2017-present)
- Lazard, Senior Advisor (2015-present)
Non-Profit Organizations
- Africa Europe Foundation, Member of the High-Level Group (2020-present)
- Carnegie Endowment for International Peace, Board of Trustees Member (2019-present)
- Results for Development (R4D), Board of Directors Member (2014-present)
- Global Financial Integrity (GFI), Advisory Board Member (2007-present)
- Mandela Institute for Development Studies (MINDS), Advisory Board Member
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