Director-General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala, has urged the Federal Government to make job creation a top priority. She said Nigeria must expand economic opportunities for its large and growing youthful population to ensure the reforms benefit the people.

Speaking during a fireside dialogue titled ‘Building Africa’s Resilience in a Changing Global Economic Order,’ Dr. Okonjo-Iweala commended the Central Bank of Nigeria for reforms that are reshaping the economy. She shared the stage with CBN Governor, Mr. Olayemi Cardoso.

The WTO chief stressed that the benefits of ongoing reforms must translate into real improvements in the lives of ordinary Nigerians. “Nigerians have to feel the dividends of reform in the real economy,” she said, calling for sustained macroeconomic reforms, prudent fiscal management and responsible debt handling.

Dr. Okonjo-Iweala noted that globalization is moving from cooperative interdependence to competitive interdependence. She said the post-World War II global order built to ensure stability and prosperity is now facing its biggest disruptions in over 80 years.

According to her, countries are now competing fiercely but still cannot afford to abandon the global economic system. “They seek to outpace rivals without sacrificing the benefits of economic integration,” she stated, adding that the hope that trade would bring geopolitical harmony may have failed for now.

 She added that this new era of competitive interdependence makes it more important to have stronger, rules-based global systems. The WTO DG also highlighted how global economic power has shifted, with developing economies now driving growth.

Citing data, she said in 1995 advanced economies accounted for about 60 percent of global output, while developing countries had 40 percent.