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Ngozi Okonjo-Iweala on aid versus trade

Ngozi Okonjo-Iweala on aid versus trade

Ngozi Okonjo-Iweala, the former finance minister of Nigeria, sums up four days of intense discussion on aid versus trade on the closing day of TEDGlobal 2007, and shares a personal story explaining her own commitment to this cause.

As the first female Finance Minister in Nigeria, Ngozi Okonjo-Iweala attacked corruption to make the country more desirable for foreign investment and job creation. Now as a director of the World Bank and head of the Makeda Fund, she works for change in all of Africa.

Why you should listen to her:

Ngozi Okonjo-Iweala, a director of the World Bank, was Nigeria’s Finance Minister and then briefly Foreign Affairs Minister from 2003 to 2006, the first woman to hold either position.

During her tenure as Finance Minister, she worked to combat corruption, make Nigeria’s finances more transparent, and institute reforms to make the nation’s economy more hospitable to foreign investment. The government unlinked its budget from the price of oil, its main export, to lessen perennial cash flow crises, and got oil companies to publish how much they pay the government.

Since 2003 — when watchdog group Transparency International rated Nigeria “the most corrupt place on Earth” — the nation has made headway recovering stolen assets and jailing hundreds of people engaged in international Internet 419 scams.

Okonjo-Iweala is a former World Bank vice president who graduated from Harvard and earned a Ph.D. in regional economics and development at MIT. Her son Uzodinma Iweala is the celebrated young author of Beasts of No Nation.

“Ngozi Okonjo-Iweala is a heroine not just of Nigeria, but of the entire continent. Her crusade against corruption has put her life at risk.”

– The Independent (UK)

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