The newly appointed Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala has declared her intention to help her country of origin, Nigeria diverts into other areas of the economy.
According to a 2019 report from the World Bank, Nigeria has a Gross Domestic Product of 448.1 billion USD and 2,229.86 USD GDP per capita. Often acclaimed as the giant of the West and one in Africa for having its impressive economy, much of Nigeria’s fortune is from its oil and gas industry.
Nigeria is the leading oil manufacturing country in Africa. In a day, it produces over 1.9 million barrels of oil and that earned her the 11th position in the whole world in 2014. However, oil and gas are not the only things the West African country can boast of. Therefore, Ngozi Okonjo-Iweala deems it fit to take advantage and explore its other economies. Besides, that could very easy now that she at the advantaged height to assist the country to reach that level.
Today, she reveals her intentions after a meeting with Prof Yemi Osinbajo, Nigeria’s Vice President, Dr Segun Awolowo, Dr Nasiru Sani and many others to discuss how WTO can help Nigeria explore Agriculture and services as well.
In terms of agriculture, the country’s main exports consist of sesame seeds, cashew nuts, cocoa beans, ginger, frozen shrimp and cotton. However, sesame, cashew nuts and cocoa account for more than half of the nation’s agricultural exports.
Click here to read more about Ngozi Okonjo-Iweala, the first Black and woman to lead the World.