Director-General of the World Trade Organization (WTO), Professor Ngozi Okonjo-Iweala has disclosed her reason for visiting President Bola Tinubu on Tuesday.
The Nigeria-born WTO chief revealed that she engaged in discussions with President Tinubu about potential measures, including assistance from the organisation to mitigate the impact of discontinuing a subsidy on petrol.
Removal of fuel subsidy has led to increase in the cost of living in Africa’s largest economy.
Ngozi Okonjo-Iweala, who is currently on a personal visit to her home country said her talks with Tinubu focused on immediate community programmes aimed at generating employment opportunities for young individuals and women who are disproportionately affected.
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They also discussed long-term prospects that Nigeria could capitalize on, such as investments in the pharmaceutical industry.
“We are already collaborating in Nigeria, particularly with women who run small and medium-sized businesses, to help them enhance the quality of their products.
“This applies to areas like agriculture, textiles, and other sectors, enabling them to expand their international sales,” she told journalists at the Presidential Villa on Tuesday.
She also expressed the commitment of the WTO towards providing the utmost support to Nigerians during this critical period.
Tinubu had during his inaugural speech on May 29 removed the fuel subsidy in an audacious but also significant economic reforms the country has seen in decades.
Tinubu, who faces pressure due to rising prices following his reform agenda, has defended his decision by asserting that Nigeria has already saved over 1 trillion naira ($1.31 billion) in slightly over two months since the reforms were initiated.
