Business
WTO DG: I am honoured, says Okonjo-Iweala, on selection

- Buhari, Atiku, others congratulate Okonjo-Iweala
Ngozi Okonjo-Iweala, the first female director-general of the World Trade Organisation (WTO), says she is honoured to have been selected as the one to lead the WTO.
“I am honoured to have been selected by WTO members as WTO Director-General,” Okonjo-Iweala said on Monday afternoon.
“A strong WTO is vital if we are to recover fully and rapidly from the devastation wrought by the COVID-19 pandemic. I look forward to working with members to shape and implement the policy responses we need to get the global economy going again.
“Our organization faces a great many challenges but working together we can collectively make the WTO stronger, more agile and better adapted to the realities of today.”
Okonjo-Iweala was appointed the DG on Monday after months of uncertainty at the trade body.
The WTO thanked the former minister for her graciousness and patience through the selection process.
“This is a very significant moment for the WTO. On behalf of the General Council, I extend our warmest congratulations to Dr Ngozi Okonjo-Iweala on her appointment as the WTO’s next Director-General and formally welcome her to this General Council meeting,” said David Walker, the General Council chair, said.
“Dr Ngozi, on behalf of all members I wish to sincerely thank you for your graciousness in these exceptional months, and for your patience.
“We look forward to collaborating closely with you, Dr Ngozi, and I am certain that all members will work with you constructively during your tenure as Director-General to shape the future of this organization,” he added.
Walker, who is from New Zealand worked together with co-facilitators Dacio Castillo (Honduras) and Harald Aspelund (Iceland) through the nine-month DG selection process.
Meanwhile, President Muhammadu Buhari has felicitated with Okonjo-Iweala, on her selection as WTO DG, bringing joy and more honour to the country.
The President says her track record of integrity, diligence and passion for development will continue to yield positive results and rewards to mankind.
Buhari affirmed that Okonjo-Iweala, who over the years set major records of economic reforms in Nigeria as Minister of Finance, and later Minister of Foreign Affairs, would excel in her new position and validate the global mandate of repositioning and strengthening the multilateral institution for the greater good of all.
The President joined family, friends and colleagues in wishing Dr Okonjo-Iweala well in her new endeavour.
Atiku Abubakar
Dr (Mrs) Ngozi Okonjo Iweala is a woman I know very well, because we worked at close quarters between 2003 and 2007, when she served in our administration in various capacities, most notably as finance minister.
It is not hyperbole when I say that no one could be more qualified for the job of Director General of the World Trade Organisation than her, and I congratulate her for her success at being the first female and African DG of the WTO.
She is an apostle of free trade and an astute manager of people and resources, and the world will be a much more prosperous place by her elevation to this enviable height.
As the world prepares to emerge from the global pandemic of COVID19, the planet needs a steady hand at the wheel, to drive global trade, and rebuild from the devastation wrought by the virus. We would not need someone who thinks they can pull this off. We would need someone who has actually and serially pulled it off before. And that person has emerged.
Ngozi, Africa and Nigeria are proud of you and my family and I are full of joy at your victory. Go to Geneva and make us proud, as we know you will.
Congratulations once again and may God bless your tenure.
President, European Central Bank – Christine Lagarde
Congratulations to my friend Ngozi Okonjo-Iweala on becoming the first female Director-General of the @wto.
I’ve known Ngozi for many years. Her strong will and determination will drive her to tirelessly promote free trade to the benefit of people worldwide.
As she prepares to lead the World Trade Organization (WTO), I congratulate Dr. Ngozi Okonjo-Iweala on her emergence as the next Director General.
I wish @NOIweala all the best in this new assignment, and hope that her tenure at the helm of the WTO helps to address some of the barriers that limit trade in Africa and other developing countries.
Bukola Saraki
I heartily rejoice with Dr Ngozi Okonjo-Iweala on her emergence as the first African and first female Director-General of the World Trade Organization (WTO).
I also congratulate Nigeria on the latest feat of its great daughter on the international stage and applaud President Muhammadu Buhari, whose unwavering commitment contributed to the acknowledgement of the sterling credentials of her and her ultimate triumph for the position.
Senate President Ahmad Lawan
With her latest feat, the former Nigerian Minister of Finance and Managing Director of the World Bank has again brought honour to Nigeria, Africa and women everywhere.
I pray for Almighty God to imbue her with good health and wisdom to succeed in the task just as I urge her to deploy her famed intellect, experience, energy and integrity in leading the WTO to promote global prosperity through fair trade.
Delta State Governor Ifeanyi Okowa
On behalf of all Deltans, I join all Nigerians in congratulating one of our most renowned citizens, Ngozi Okonjo Iweala, on her emergence as the next Director-General of the World Trade Organisation.
Over the years, we have all followed your growth and celebrated your noteworthy achievements. This is why, as you begin your new role at the helm of the WTO, I want you to know that you have the unwavering support of both your home state and your country!
Peter Obi
Dr (Mrs) Ngozi Okonjo-Iweala @NOIweala has always been a shinning star, not just in our country Nigeria, but across the world where her leadership impact has been felt.
Her appointment for this lofty position as DG @WTO has not come as a surprise to those of us who know her well. I am definitely sure she will perform creditably in her new assignment.
PDP
The party describes her emergence as victory for competence, global due process and consensus needed to pilot the activities of the world trade body, especially at this critical period in the history of the world’s economy.
The @OfficialPDPNig notes that the development has again brought honour to our nation adding that it is proud of Okonjo-Iweala as a product of the PDP administration, whose excellence as Nigeria’s minister of finance, under whom Nigeria achieved our debt relief and revamped to become one of the fastest growing economies of the world.
The party also recalled Dr. Okonjo-Iweala’s success as the Managing Director of the World Bank, where she also displayed her capacity to effectively handle global economy’s issues.
The @OfficialPDPNig commends international stakeholders, including President @JoeBiden-led United States Government for the strong support given to Okonjo-Iweala, which points to the commitment of all stakeholders towards global consensus and economic recovery.
The @OfficialPDPNig restates its charge to the new @wto Director General to redouble her effort in bringing to bear her wealth of experience and competence to the world body.
Reps Minority Caucus: Appointment reinforces global confidence in her
Minority Caucus of the House of Representatives has congratulated former Nigeria’s Minister of Finance, Dr. Ngozi Okonjo-Iweala, over her final confirmation as the Director General of the World Trade Organization (WTO).
The caucus in a statement by the Minority Leader, Hon. Ndudi Elumelu, on Monday, observed that the emergence of Okonjo-Iweala as DG of the world trade body in spite of all the opposing huddles, “has reinforced global confidence in her competence and proficiency to head the world body”.
He said, “Indeed, the election of Dr. Okonjo-Iweala to head the WTO is well-deserving, given her huge experience, competence, commitment and track record of performance in global finance and economy as evinced in her successes as Nigeria’s minister of finance, Managing Director of the World Bank and various other international development bodies.
“We commend the global community for having confidence in Dr. Okonjo Iweala and particularly, the United States President, His Excellency Joe Biden, for the unwavering support given to her by his administration, which is clearly in recognition of Dr. Okonjo-Iweala’s competence.
“In the same vein our caucus commends the understanding and spirit of sportsmanship exhibited by the South Korean trade minister, Yoo Myung-hee in withdrawing from the race; another loud testament to Dr. Okonjo-Iweala’s suitability for the task ahead.”
The lawmakers charged Dr. Okonjo Iweala to, as usual, hit the ground running and bring to bear her skills, connections and wealth of experience in the onerous task of leading the WTO at this trying period in the history of global economy.
The caucus however urged the new WTO DG to have a special focus on Africa and the developing world, particularly at this time of economic recession, which has been worsened by the adverse effect of the COVID-19 pandemic.
Auto
Massilia Motors launches new Mitsubishi L200 with low fuel consumption, advanced engineering

Massilia Motors launches new Mitsubishi L200 with low fuel consumption, advanced engineering
L-R: CFAO Nigeria Country Delegate, Mr. Regis Tromeur; GMD/CEO, Kewalram Chanrai Group, Mr Siva Subramaniam; Deputy Managing Director, CFAO Mobility, Mr. Kunle Jaiyesimi; Managing Director of Massilia Motors, Olivier Lamoure; and General Manager, Sales, Massilia Motors, Mr. Tunji Itiola at the launching of the All-New Mitsubishi L 200 at Eko Atlantic, Lagos …on Friday, April 11, 2025
The all-new Mitsubishi L200 pickup, a 2025 edition, has been formally unveiled in Nigeria, courtesy of Massilia Motors.
Massilia Motors, the sole distributor of Mitsubishi brand of vehicles in the country and a joint venture with CFAO Mobility, says the new L200 pickup is coming with low fuel consumption, advanced engineering and ultra-tough characteristics, making it a versatile vehicle for various terrains and conditions.
The unveiling event took place at Eko Atlantic, Victoria Island, Lagos, where guests had the opportunity to experience the new pickup firsthand.
The new L200, already recognized worldwide and well-known in Nigeria, has been completely redefined in this latest model.
It features advanced engineering and ultra-tough characteristics, making it a versatile vehicle for various terrains and conditions.
The L200 is equipped with an All-New Chassis frame for improved ride and handling; lessen noise and vibration; durability; anti-corrosion; crash safety; better body size and wider interior.
The chassis frame is built with high-tensile materials to withstand tough terrain and ensure reliable performance in any condition, complemented by a redesigned suspension system.
Inside, the L200 is designed for comfort, even during long trips, with advanced technology and a thoughtfully crafted living space, according to Massilia.
The new suspension fine tune has some unique features that include Front – Double wishbone that is optimized longer stroke by geometry; Rear – Leaf spring (3 layers) with less friction.
The vehicle, powered by a six-speed manual gearbox on a 2.4-litre petrol engine, features a distinctive grille and appearance, and has won several awards, including the 2024-2025 Japan Car of the Year Design Award.
Built on inherited Pajero DNA with 4WD performance for reliability and ruggedness, Mitsubishi’s Anti-lock braking system (ABS) and Electronic Brake Force Distribution applies brake force while cornering to maintain vehicle stability and optimize traction, preventing torque loss.
The system adjusts engine output and applies brake force to spinning wheels as needed, always ensuring driver safety.
Mitsubishi has also focused on driver and passenger comfort with newly designed seats inspired by their rally heritage, providing excellent body support.
The upgraded air-conditioning system offers adjustable airflow for personalized comfort. Ample storage space and a bucket space of up to 2340mm x 1580mm makes it ideal for various tasks.
Other interior features include a 9-inch infotainment system and a new 7-inch multi-information display and outstanding cabin comfort because of better head and leg room for passengers.
The vehicle is designed to provide slip-resistant footing for safe and easy entry and exit, even in wet or slippery conditions.
The rear bumper corner allows for more foot space when the tailgate is open, featuring the largest step area in its segment.
Managing Director of Massilia Motors, Olivier Lamoure, highlighted the fact that the new L200 comes with lower fuel consumption aided by improved Aero Dynamics with roof and rear spoiler combination.
Another striking feature of the new vehicle is its enhanced cargo and payload capacity with improved turning radius of 6.2m from 5.9m, as well as higher ground clearance from 200mm to 212mm all to guarantee better driver manoeuvrability.
Lamoure added, “At Massilia Motors, it is important for us to give the keys to the customer so they can personally test the vehicle and share their impressions.
“Whether for personal use or for their business, performance and reliability are proven in the field, not in a showroom. This hands-on approach allows customers to truly experience the vehicle’s capabilities.”
Massilia Motors says it also offers prospective customers free test drive which can be booked via www.mitsubishi-motors.com.ng , where further information about the vehicle can also be obtained.
The L200 has a rich history, tracing its roots back to the Forte launched in 1978. Over the past 47 years, about 5.7 million units have been produced across five generations and sold in approximately 150 countries. The latest model continues this legacy with its high-rigidity RISE body, designed to absorb energy and minimize cabin deformation in the event of a crash.
The L200 has also received international accolades, including a five-star rating from Latin NCAP and recognition at the 2024 Arab Car of the Year awards, where it was named “Best Mid-size Pickup”.
Massilia names variants available for the Nigerian market as the Double Cab and Single Cab, adding that it offers genuine spare parts, after-sales services, and a warranty of three years or 100,000km.
Railway
NRC suspends Warri-Itakpe train after multiple engine failure

NRC suspends Warri-Itakpe train after multiple engine failure
The Nigerian Railway Corporation (NRC) on Thursday announced the suspension of its Warri-Itakpe train service, after it experienced multiple technical issues.
The standard gauge train was said to have broken down midway on Tuesday, creating some panic situation among passengers on board.
It said in a statement that the decision to suspend the train operation would allow its technical team “to conduct a full audit, resolve all identified issues, and restore safe and reliable service.”
The NRC statement signed by Henrietta Eregare of the NRC Public Relations Department, read in part, “The Nigerian Railway Corporation (NRC) wishes to inform the general public and our valued passengers that a significant disruption occurred on the Warri-Itakpe rail line on Tuesday, April 9, 2025, due to multiple technical issues involving a train engine failure.
“Management has consequently suspended train services on the route for 72 hours.
“The disruption commenced at approximately 1:38pm and affected both the 8am departure from Warri and the 2pm train from Itakpe.
“Emergency recovery protocols were immediately activated but also suffered a setback due to engine failures.”
It recalled how the corporation swiftly arranged for the safe evacuation of all passengers through road transportation with adequate security presence.
“Passengers were guided off the affected train to waiting cars approximately 500 meters from the track.
It stated, “Some Passengers chose to arrange their own transportation before the arrival of official recovery vehicles—a decision NRC understands given the delay.”
The corporation also disclosed that adequate arrangements had been made for a full refund of the value of tickets to passengers involved in the disrupted trains.
Those interested in using their tickets for future trips can take advantage of the revalidation option, according to the NRC.
“Refund and revalidation process is available on our online ticketing platforms, via our customer service lines, and at all NRC stations,” the statement added.
It expressed regret for the inconvenience caused by the unexpected disruption.
It said, “The Nigerian Railway Corporation takes full responsibility and is actively working to restore normal operations as quickly as possible. We remain committed to the safety, reliability, and comfort of our passengers.”
Business
BREAKING: Dangote Refinery slashes petrol price to ₦865

BREAKING: Dangote Refinery slashes petrol price to ₦865
The Dangote refinery has informed marketers and its customers of a downward review of its ex-gantry loading cost to ₦865 per litre.
The new price is N15 less than the facility’s previous price of N880 per litre sold Wednesday.
Our correspondent learnt that the refinery alerted its clients via a notification sent out on Thursday morning.
Our correspondent gathered that the Dangote refinery informed its customers in a notice sent out on Thursday morning.
Remember that marketers had exclusively informed that the 650,000-barrel Dangote refinery was expected to reduce its petrol loading costs by the end of this week, further adding to the decline in fuel prices.
Chinedu Ukadike, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, reassured the public about the price drop while responding to the Federal Executive Council’s direction on the naira-for-crude arrangement.
Following an initial delay, the Federal Executive Council directed on Wednesday that the suspended Naira-for-Crude arrangement with local refiners be fully implemented.
It stated that the initiative with local refineries is not a temporary measure but a “key policy directive designed to support sustainable local refining”.
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The Ministry of Finance announced this in a statement published on its official X handle titled “Update on the Crude and Refined Product Sales in Naira Initiative”.
The statement was released following a meeting on Tuesday between the Minister of Finance, Wale Edun, and representatives from Dangote Refinery, a major beneficiary of the agreement, to review progress and address ongoing implementation matters.
The committee stated that the policy is not a temporary measure but rather a long-term strategy to reduce Nigeria’s reliance on foreign currency for petroleum.
It further stated that the effort is not a one-time or limited intervention but rather a fundamental policy direction aimed at promoting sustainable local refining and bolstering energy security.
The statement read, “The Technical Sub-Committee on the Crude and Refined Product Sales in Naira initiative convened an update meeting on Tuesday to review progress and address ongoing implementation matters.
“The stakeholders reaffirmed the government’s continued commitment to the full implementation of this strategic initiative, as directed by the Federal Executive Council.
“Thus, the Crude and Refined Product Sales in Naira initiative is not a temporary or time-bound intervention but a key policy directive designed to support sustainable local refining, bolster energy security, and reduce reliance on foreign exchange in the domestic petroleum market.”
BREAKING: Dangote Refinery slashes petrol price to ₦865
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