Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization (WTO), has called upon stakeholders in the South-East region to come together and establish collaborative leadership to address the challenges afflicting the region as a unified effort.

Ms. Okonjo-Iweala delivered this message during her keynote address at the South-East Summit on Security and Economy, which commenced in Owerri on Thursday. The overarching theme of the two-day summit is ‘South East Beyond 2023, Time for a Reset’.

Listen to Dr. Ngozi Okonjo-Iweala's speech at the South East Summit on Economy and Security.

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“We no longer have solidarity; instead, we are fragmented as a people, and that has made us forget how to support each other. If our big problem is ourselves, it means that the solution also lies in our hands,” she said.

The South-East has in recent years, watched as its economic prowess dwindle – masterminded by miscellaneous factors including insecurity and poor leadership by the region’s governors.

The head of the WTO emphasized the importance of the region enhancing its internally generated revenue, minimizing borrowing, and increasing capital expenditures.

“Governors, state legislatures and local government chairs must continuously ask themselves, are we using our FAC allocation wisely, transparently and effectively?” said Ms Okonjo-Iweala. “Can we generate more revenue internally, and how do we do it while motivating our productive sectors and factors? Are we taking on too much debt? Are we even spending the amount borrowed effectively?”

The South-East is known for its entrepreneurship prowess but has suffered from infrastructural decay, a high unemployment rate, and a dwindling economy. Ms Okonjo-Iweala said a key move in revitalizing the region’s economy is stable electricity.

She advised the region to seize the opportunity of privatization in the electricity sector to look towards solar and gas solutions to improve power supply.

“I want to suggest that we convene a South-East investment forum, not for people from outside the region or abroad but for our own Igbo business people. In this forum, we should examine what is blocking greater investment in the South-East region and what we can do to block these leakages,” Ms Okonjo-Iweala explained.

The DG of the WTO stressed the importance of the region diversifying its economic activities and attracting investments in areas such as pharmaceuticals, fertilizers, labor-intensive industries, and digital technology within the supply chain. She further advised stakeholders to leverage the advantages of digital trade, particularly for micro, small, and medium enterprises, as well as in online education, health, and accounting services.

Ms. Okonjo-Iweala also encouraged the region to tap into its diaspora resources to bolster the healthcare sector.

“I am sure the South-East governors, coming together, can do some financial engineering and find a way to float a South-East diaspora bond or fund to capture some loans and tenured to financing some development priorities,” she noted.

The South-East Summit also saw governors outline their plans for the region. Abia State Governor, Alex Otti, unveiled plans to establish the first-ever seaport in the Southeast region.

This proposed seaport will be strategically situated in Owazza, within the borders of Abia State’s Ukwa East Local Government Area. Governor Otti also disclosed that the seaport will incorporate an export processing zone and various business promotion facilities.

The primary objective of this seaport project is to serve as a catalyst for economic growth in the Southeast, fostering trade, attracting investments, and generating employment opportunities. Governor Otti highlighted that the construction of the seaport will require substantial investments in transportation and logistics infrastructure.

The project aims to promote balanced regional development, spreading economic benefits across the South-East. The commencement of the project is scheduled for September 30, 2023.

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The controversy surrounding President Bola Tinubu’s certificate from Chicago State University (CSU) has generated a lot of faux that many believe is embarrassing Nigeria on the international stage.

The National Democratic Coalition in the United States of America (NADECO – USA) has become the latest group to weigh in on the matter. The group has asked Tinubu to resign to save the country from further embarrassment.

Former Vice President Atiku Abubakar had on August 2, filed a suit in the U.S. seeking an order to compel CSU to release Tinubu’s academic record. Tinubu, whose election is being challenged by Atiku and Peter Obi, the Labour Party’s presidential candidate, does not want his record released.

The educational background of Bola Ahmed Tinubu, who contested the Nigerian presidential election under the All Progressive Congress (APC), has been a subject of controversy and has become important for the election tribunal case at the Supreme Court.

The president said making his CSU academic record public would infringe on his privacy rights under the Family Educational and Privacy Rights Act (FERPA), a U.S. law that protects the academic records of students.

Tinubu has appealed an earlier ruling by Judge Jeffrey Gilbert of the United States District Court for the Northern District of Illinois, who in his ruling on September 19 ordered CSU to release the record.

At the Court of Appeal, Tinubu’s lawyers argued before Judge Nancy Maldonado of the United States District Court for the Northern District of Illinois in Chicago, that “Severe and irreparable harm will be done to Bola Tinubu if the records are released.”

In a statement issued on September 25, 2023, NADECO – USA asserted that the controversies surrounding Bola Tinubu’s academic history at Chicago State University have disgraced the entire nation of over 200 million people on the global stage. The statement also strongly criticized the socio-economic challenges resulting from the perceived failures of Tinubu’s government policies that have adversely affected the lives of Nigerians.

The statement reads: “Nigeria is in the throes of a deep international image, domestic and regional crisis-bleeding profusely on both national and international stages. It is a nation held in disdain presently at the international stage; its economy is in shambles, and its people are hungry for change.

“Presently, a dollar is a stone’s throw from a thousand naira. Even institutions like Chicago State University find themselves on the precipice of disrepute, teetering on the brink of losing international credibility and accreditation, all due to the wake of destruction left by Tinubu’s unwavering pursuit of his questionable presidency.

“This perilous journey, fuelled by one man’s relentless ambition has led to the heartbreaking ignorance of the collective suffering of Nigerians by Tinubu and the APC.

“In a plea to rescue Nigeria from the clutches of Tinubu’s questionable ambitions, NADECO USA implores Mr Bola Ahmed Tinubu to liberate himself and the over 200 million Nigerians from the impending implosion. If MrTinubu chooses to resign, perhaps Nigerians will find it in their hearts to forgive, and the secrecy legacy he leaves behind at CSU may no longer bear the stain of his political pursuits. He should be advised to do the needful.”