The Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, on Wednesday reflected on Nigeria’s economic reform programme under former President Olusegun Obasanjo, saying public understanding and support were indispensable to the reforms that culminated in the country’s landmark debt deal.
Mrs Okonjo-Iweala spoke in Abuja at the public presentation of a book titled ‘The Pain and the Promise: Insights and Fragments on Nigeria and People, Public and Personal (1990–2026), written by communications strategist and public policy analyst Paul Nwabuikwu.
The WTO boss said strategic public communication played a crucial role in Nigeria’s successful negotiations for Paris Club debt relief.
Before the agreement, Nigeria’s external debt had grown to about $36 billion, much of it accumulated during the military era. In 2005, Nigeria secured about $18 billion in debt relief from the Paris Club after agreeing to pay about $12 billion, significantly reducing the country’s external debt burden and creating fiscal space for economic reforms and public spending.
Ms Okonjo-Iweala, who served as finance minister and led Nigeria’s economic management team during the negotiations, said she understood from the outset that implementing the reforms would require not only sound economic policies but also effective communication with Nigerians.
