The Director- General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, on Sunday identified good economic and social policies as the pathway to Nigeria’s progress.
She stated this in a keynote address titled: “A Social Contract For Nigeria’s Future,” at the opening ceremony of the 2024 Annual General Conference of the Nigerian Bar Association (NBA) held at the Eko Hotel & Suites in Lagos.
She said: “Maintaining good economic and social policies; maintaining policy consistency and adding more reforms on top of that will lead us along the path of good progress that we all desire.”
The former finance minister decried what she labelled as the “not-in-my-administration syndrome” in governance which has been responsible for the not-so-good economic performance of Nigeria.
She stressed the need for a social contract among Nigerians regardless of political or other affiliations.
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The developmental economist said certain sacrosanct policies should not be changed whenever Nigeria witnesses administration changes.
She said some of these policies should be made into law after being scrutinised by the public.
“No one should tamper with the Central Bank asking for the manipulation of interest rates or exchange rates.
“Do not use the Central Bank as a fiscal agent asking for the printing of naira beyond agreed Ways and Means limits as this can fuel inflation,” she added.
The former World Bank top executive said the provision of basic infrastructure should form the third element of the social contract.
By: Babajide Okeowo
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