Ngozi Okonjo-Iweala -Profile,about her,family and work.
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Ngozi okonjo iweala A princess born into a family of well educated Nigerian Royals on 13th day of June 1954, she hails from Delta State of Nigeria,
and spent the early years of her life living with her grand parents while her parents studied abroad. Upon the return of her parents she moved with them to Ibadan, South west of Nigeria where her parents worked with the then University College of Ibadan now University of Ibadan. She latter attended the girls school in Enugu and add a long break due to the civil war in Nigeria. She completed her secondary education at St Annes College in Ibadan.
Though the civil war disrupted her education it did not slow her down, she passed her a levels in with good grades and got admitted into Harvard University to study Economics. Leaving the shores of the country Ngozi Okonjo Iweala performed expectionally well in school and Graduated with good grades. She has a PHD from MIT the Massachusetts Institute of Technology.
Ngozi Okonjo Iweala at the World Bank
Her first experience in the World Bank came through her internship program where she got the first experience of the institution and upon graduation she applied for the young professionals program of the world bank and was absorbed to the team of the world bank elites.
She continued there with a 21-year career as a development economist at the World Bank, where she held the post of Vice President and Corporate Secretary. This included two tours of duty (six years) working in the East Asia Region, the last tour (1997-2000) as Country Director Malaysia, Mongolia, Laos and Cambodia during the East Asian financial crisis; two duty tours in the Middle East Region, the last (2000-2003) as Director, Operations (deputy vice-president) of the region. Ngozi Okonjo-Iweala also served as Director of Institutional Change and Strategy (1995-1997). In this post she assisted with the implementation of the Bank’s reform agenda. From 1989 to 1991 she was Special assistant to the Senior Vice President, Operations, an assignment that enabled participation in high level policy formulation and discussions for countries as diverse as China and Burkina Faso.
She left twice to serve as Finance Minister of Nigeria, under the dispensation of president Olusegun Obasanjo and president Goodluck Jonathan, came back in between the two presidents term in office to be the Managing Director of the World Bank. Currently she is been tipped to be the President of the World Bank, she received backing from South Africa, Brazil and Scholars like Harvard Professor Pritchett, there might be backing from China and India if they would vote based on merit.
She unsuccessfully ran for the World Bank Presidency, though she was the preferred and most qualified choice the US backed candidate won, she however sets precedence for other contestant to challenge the status quo.
As Finance Minister in the Federal Republic of Nigeria
Following her role as Vice President in the World Bank the Nigerian President Olusegun Obasanjo asked her to be the Finance Minister of the country. The president was impressed with the brief on economic reforms he requested from her and asked her to serve as the Minister of Finance. The position she held between 2003 and 2006,during this period she had a short stint as the Minister of foreign affairs.
Her achievements
As a Minister of Finance she heads a team which is responsible for the economic reforms policy in Nigeria.
She initiated the practice of publishing allocations from to the Federal government to each states in the country.
She was instrumental to boosting Nigeria’s credit rating from Fitch and Standard and Poor’s to BB minus.
She headed a team that renegotiated the cancellation of US $18 billion about 60 percent of Nigeria’s external debt with the Paris Club which includes a juicy buyback to wipes the countries debt and reduces it indebtness to $5 Billion.
After her resignation as Minister of Finance she founded NOI Consulting and also co founded Makeda Funds with SEAF. The Fund was designed to help and support small business in emerging markets. She left NOI consulting to serve as Managing Director of the World Bank. After a while she was called to serve again has the Finance Minister of Nigeria by President Goodluck Jonathan a post she still holds till date.
Recently she has been tipped and nominated for the world bank presidency a position that has been held since inception by a US candidate. If elected she will be the first female president of the bank and also the first non-US candidate. Though she has declined interest she is the best candidate so far, having been a Finance Minister of Nigeria and also a Managing Director at the World bank.
Ngozi Okonjo Iweala’s contribution and works
She brought to the forefront the issue of Corruption and need for transparency and accountability in African Countries. She Joined Brooks a private not for profit research and innovative policy solution organization as a distinguished visiting fellow, where she would be working on three key areas within the global economy and development program:
The Wolfensohn Centre for Development, led by Johannes Linn
The Global Health Financing Initiative, recently launched with a Gates Foundation grant
The Transparency and Accountability Project. The health and transparency projects are led by Senior Fellow David de Ferranti.
She has an academic piece published by Africa World Press in 2003, The Debt Trap in Nigeria: Towards a Sustainable Debt Strategy. Co-edited with Charles C. Soludo and Mansur Muhtar.
A biography of renowned and respected author. Chinua Achebe: Teacher of Light: Co-authored with Tijan Sallah.
International awards
TIMES Europe –Hero 2004
Euromoney Magazine – Global Finance Minister of the year 2005
Financial Times/The Banker African Finance Minister 2005
She is fond of her family, and has Four Children, three boys and a girl. Her Husband who is also her childhood sweetheart is a surgeon. Ngozi Okonjo-Iweala is not only a professional who knows her onion but also a true ambassador of Africa. She is mostly seen wearing her traditional attires.
