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US backs Okonjo-Iweala for WTO job

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The United States government has announced its endorsement of former the Nigerian minister, Ngozi Okonjo-Iweala, to emerge as the director general of the World Trade Organisation.

It stated this in a statement by its office of trade representative.

Indication came on Friday that Okonjo-Iweala, a former finance minister and World Bank executive, would clinch the post after her final challenger to the position, South Korean Trade Minister and candidate, Yoo Myung-hee, withdrew from the race.

Yoo said she took the decision after discussions with the US and other major nations, a statement from Korea’s trade ministry said on Friday.

She also took various issues into account “comprehensively” including the need to revitalise the multilateral organization, reports said Friday.

The US statement stated, “The United States takes note of today’s decision by the Republic of Korea’s Trade Minister Yoo Myung-hee to withdraw her candidacy for Director General of the World Trade Organisation (WTO).

“The Biden-Harris Administration is pleased to express its strong support for the candidacy of Dr. Ngozi Okonjo-Iweala as the next Director General of the WTO. Dr. Okonjo-Iweala brings a wealth of knowledge in economics and international diplomacy from her 25 years with the World Bank and two terms as Nigerian Finance Minister.

“She is widely respected for her effective leadership and has proven experience managing a large international organization with a diverse membership.

The Biden-Harris Administration also congratulates Minister Yoo Myung-hee on her strong campaign for this position. She is a trailblazer as the Republic of Korea’s first female trade minister and the first candidate from Korea to advance this far in the director general selection process.

“The United States respects her decision to withdraw her candidacy from the director general race to help facilitate a consensus decision at the WTO.”

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2 Comments

2 Comments

  1. xem tivi trực tiếp bóng đá

    June 22, 2021 at 5:15 pm

    Xem Trực Tiếp Soccervtv3 trực tuyếnTheo thể thức thi đấu, đội thắng ở cặp đấu này sẽ giành tấm vé đến Lithuania trong ngày hội bóng đá lớn nhất thế giới mang đến futsal. Tuyển futsal Việt Nam bước vào trận play-off lượt đi tranh vé dự play-off World Cup 2021 với sự tự tin. Tuy vậy, HLV Phạm Minh Giang bày tỏ, toàn đội ko ngán Lebanon tuy nhiên sẽ tìm cách để khắc chế sức mạnh của đối thủ bởi trên băng ghế huấn luyện là nhà cầm quân Ramiro Lopez, người từng dẫn dắt futsal Tây Ban Nha.|Dựa vào lịch thi đấu, quý khách rất có thể sắp xếp việc làm

  2. hồng nhung

    July 1, 2021 at 3:02 am

    Tin Tức, Sự Khiếu Nại Liên Quan Lại Đến Thẳng Soccer Phái Nữ w88Đội tuyển chọn nước Việt Nam chỉ cần một kết trái hòa có bàn thắng để lần loại hai góp mặt trên World Cup futsal. Nhưng, nhằm làm được như vậy

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Inflow of foreign capital drops by 54% to $875.62m

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The total value of capital importation into Nigeria dropped to $875.62 million in the second quarter (Q2) of 2021, the National Bureau of Statistics has said.
According to the NBS, the figure represents a 54.06 per cent drop compared to the $1.91 billion in the first quarter (Q1) of 2021.

It stated this in its latest report titled, ‘Nigerian capital importation (Q1 & Q2 2021)’.
In 2020, Nigeria’s capital importation plunged by 59.65 per cent at $9.68 billion – the lowest level in four years.

“The largest amount of capital importation by type was received through portfolio investment, which accounted for 62.97% ($551.37m) of total capital importation,” the report stated.
“It is followed by other investments, which accounted for 28.13% ($246.27m) of total capital imported and Foreign Direct Investment (FDI), which accounted for 8.90% ($77.97m) of total capital imported in Q2 2021.”
Capital importation into the banking industry dominated in Q2 reaching a total of $296.51 million, followed by financing with $205.88 million and shares with $194.59 million.
In both Q1 and Q2, brewing, fishing, hotels, tanning and weaving sectors had no record of capital imports, the report added.
Similarly, only Lagos, Ogun and the federal capital territory (FCT) recorded capital inflows across Nigeria in Q2.
Lagos emerged as the top destination of capital investment in the second quarter with $780.06 million, Abuja had $95.26 million, while Ogun had $0.3 million.
By banks, foreign firms emerged as the top capital investment in Nigeria in Q2. Stanbic IBTC recorded $310.21 million, Standard Chartered was second with $282.37 million, then Citibank ($94.15 million).
The report also stated that “the United Kingdom emerged as the top source of capital investment in Nigeria in Q2 2021 with $310.26m.”

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Nigerians experience another nationwide blackout as grid collapses

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Most parts of Nigeria experienced total blackout on Wednesday after a national grid collapse, which electricity distribution companies confirmed in separate notices to their customers.
In a public notice sent out to consumers, the Abuja Electricity Distribution Company said the collapse occurred at 12.26pm but did not say how long it would last.
The notice read, “Dear Esteemed Customers,
Following a grid system outage that occurred at about 12:26 pm today, we have been unable to service our customers in Niger, Kogi and Nasarawa State as well as a significant part of the Federal Capital Territory.
“At the moment, only 20MW has been allocated to AEDC as against the over 400MW that they have been receiving in recent times.
“We urge our customers to be patient and promise that the power supply will be restored to our franchise area as soon as there is a significant improvement in our
allocation.”
In a similar notice, Eko Disco said, “Dear valued customer, we regret to inform you of a system collapse on the National Grid that’s causing outages across our network.
“We are working with our TCN partners to restore supply as soon as possible. Please bear with us.”
Ikeja Electric also sent out a message that read in part, “The current power outage is due to a nationwide system collapse that occurred at about 12:26hrs.
“Power supply will be restored gradually to various parts of the network as soon as the grid is stabilised. Kindly bear with us.”

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Niger driver kills three students, injures eight in Suleja

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Three SS1 students of the Government Secondary School Field Base Suleja, Niger State, have been killed by a vehicle that rammed into them on their way from school.
The students were trekking home on the Suleja-Kaduna road on Monday afternoon when the incident occurred.
Three of the students were killed on the spot while eight others sustained injury.
Names of the students that died were given as Abdulhafeez Musa, Kawiyat Sharafadeen and Sunday Paul.
The driver was also said to have been injured and was receiving treatment under police watch in Suleja.
Niger State Commissioner for Education, Hajiya Hannatu Salihu, described the incident as painful and tragic.
She said the students were returning from school to their parents when they met with their death in a preventable accident.
To prevent future occurrences, the commissioner stated the state government would construct speed breakers (bumps) on the roads to schools across the state.

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