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Ngozi Okonjo-Iweala (born June 13, 1954) is a prominent economist of Nigerian-American descent. She assumed the role of Director-General at the World Trade Organization in March 2021, marking her as the first African-American woman to hold the prestigious position.
She is not only the first woman but also the first African to lead the World Trade Organization as Director-General.
Prior to this role, Ngozi Okonjo-Iweala served as Nigeria’s Minister of Finance and Minister of Foreign Affairs and worked with the World Bank. Her expertise in economic development, finance and international trade has earned her numerous awards and accolades.
Director General of the World Trade Organization
Ngozi Okonjo-Iweala |
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 Ngozi Okonjo-Iweala: History ‧ Bio ‧ Photos |
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| Wiki Events & About Data | |
| First and last name: | Ngozi Okonjo-Iweala |
| Stage Name: | Okonjo-Iweala |
| Born: | June 13, 1954 (age 70) |
| Place of birth: | Ogwashi-Ukwu, Delta, Nigeria |
| State of origin: | Delta State |
| Nationality: | Nigerian |
| Education: | Harvard University, Massachusetts Institute of Technology |
| Height: | 1.56 meters |
| Parents: | Chukwuka Okonjo, Kamene Okonjo |
| Siblings: | Do not have |
| Couple: | Ikemba Iweala |
| Boyfriend • Partner: | Do not have |
| Children: | Onyinye Iweala, Uzodinma Iweala, Okechukwu Iweala, Uchechi Iweala |
| Job: | Economist • Businesswoman |
| Net asset value: | $550 million |
Ngozi Okonjo-Iweala, born on June 13, 1954, in Ogwashi-Ukwu, Delta State, Nigeria, comes from a family of scholars. Her father, Chukwuka Okonjo, a prominent economist, and her mother, Kamene Okonjo, a diligent researcher, provided the intellectual foundation for her upbringing.
Trained at prestigious institutions, including Queen’s School in Enugu, St. Anne’s School in Ibadan, and International School In Ibadan, her thirst for knowledge led her to Harvard Universitywhere she earned her bachelor’s degree in economics.
Continuing her academic journey, Ngozi Okonjo-Iweala pursued a PhD in regional and development economics at Massachusetts Institute of Technology (Massachusetts Institute of Technology).
Career
After studying in the United States, Ngozi Okonjo-Iweala returned to Nigeria and began her career as an economist at the World Bank. She quickly rose through the ranks, eventually assuming the role of Director General, overseeing operations in Africa, South Asia, Europe and Central Asia. Her tenure saw relentless efforts to promote economic development and alleviate poverty in some of the world’s most disadvantaged regions.
During her remarkable 25 years at the World Bank, Ngozi Okonjo-Iweala’s role expanded exponentially. She rose to the prestigious position of Managing Director of Operations, with responsibility for the Bank’s massive $81 billion portfolio of operations across Africa, South Asia, Europe, and Central Asia. Her contributions were pivotal during the 2008–2009 food crisis and subsequent financial turmoil. In 2010, she presided over the IDA replenishment, securing a significant $49.3 billion in low-interest loans and grants for the world’s poorest countries.
Moving into the Nigerian government, Ngozi Okonjo-Iweala served twice as Minister of Finance (2003–2006 and 2011–2015), briefly as Minister of Foreign Affairs in 2006, and as Coordinating Minister for Economic Affairs. She was the first woman to hold these important positions. Her leadership ushered in groundbreaking economic reforms, including negotiating the cancellation of Nigeria’s massive $30 billion debt, a feat that included the cancellation of $18 billion.
She introduced oil-based financial rules, “Surplus Crude Oil Account”, and facilitated Nigeria’s first sovereign credit rating. Her efforts for transparency led to the publication of revenue sharing between federal, state and local governments, enhancing government accountability.
Returning to the World Bank in 2007, Ngozi Okonjo-Iweala continued her influential work. During her second term as Finance Minister, she championed reforms that eliminated ghost workers, saved $1.25 billion, and strengthened the housing sector with the establishment of the Nigeria Mortgage Refinance Corporation. She re-established Nigeria’s GDP, making it Africa’s largest economy after a 24-year hiatus.
In addition to economic reforms, she also empowered women and youth through initiatives such as Girls and Women Development Programme in Nigeria and Young Entrepreneurs Program with InnovationHer efforts were met with many threats and personal challenges, but she remained steadfast.
Ngozi Okonjo-Iweala’s influence has spread globally, with roles on the IMF’s Commission on Growth and Development, the International Monetary and Financial Committee, and the United Nations High-Level Panel on the Post-2015 Development Agenda. She even ran for president of the World Bank in 2012.
Ngozi Okonjo-Iweala continued her remarkable journey after leaving government, participating in key initiatives such as the International Commission on Global Education Opportunity Funding, co-chairing the COVAX Facility and chairing the Board of Gavi, the Vaccine Alliance.
In 2020, she made history as the first African and first woman to become Director-General of the World Trade Organization.
Her tireless commitment to global health continues through roles on the G20 High-Level Independent Panel on Pandemic Preparedness, the COVAX Facility, and the Multilateral Leaders Task Force on COVID-19 Vaccines.
In January 2022, Ngozi Okonjo-Iweala joined the Group of Thirty (G30), a respected group of global policymakers, further cementing her position as a prominent voice in international finance.
Awards & Nominations
Ngozi Okonjo-Iweala’s exceptional contributions have earned her numerous prestigious awards and accolades. She was named one of Fortune magazine’s 50 Greatest Leaders in the World in 2015 and has consistently been ranked among Forbes magazine’s 100 Most Powerful Women in the World from 2011 to 2015. Her illustrious journey also includes receiving the David Rockefeller Bridging Leadership Award in 2014 and the Global Equity Award in 2015.
Her indelible mark on economic development and poverty reduction extends far beyond her native Nigeria. She remains a respected figure in the global economic community, a testament to her enduring influence and unwavering commitment to positive change.
Personal life
Ngozi Okonjo-Iweala is happily married to Dr. Ikemba Iweala and their marriage has been blessed with four children. Her children, Dr. Onyinye Iweala, Uzodinma Iweala (MD), Okechukwu Iweala and Uchechi Iweala (MD, MBA), have all proudly achieved academic success at Harvard, a testament to their intellectual prowess.
In his personal career, Ngozi Okonjo-Iweala’s husband, Dr. Ikemba Iweala, has built an illustrious career as a Neurosurgeon, making significant contributions to the field of medicine.
However, Ngozi Okonjo-Iweala’s story was cut short by adversity. Tragedy struck when two of her siblings fell prey to kidnappers in Nigeria, leading to a traumatic ordeal involving ransom demands. Sadly, one sibling met a tragic end, while the other was eventually released.
Social Media
- Twitter name: Ngozi Okonjo-Iweala (@NOIweala)
- Facebook: Ngozi Okonjo-Iweala
- LinkedIn: Ngozi Okonjo-Iweala
- Email: [email protected]
Net asset value
Ngozi Okonjo-Iweala’s cumulative net worth is estimated to be around $550 million.
Wage
In terms of compensation, as an Independent Non-Executive Director at Standard Chartered Plc, Ngozi Okonjo-Iweala received a total of GBX139,000. It is worth noting that among the top brass at Standard Chartered Plc, 12 executives enjoyed higher compensation, with William Winters leading the way with a whopping $5,932,000.
