Governance in any part of the world has never been an easy task but the determination of a group within any system with the mindset to create the enabling environment and stand for transformation and change will no doubt make governance wholesome which in turn translate into the good of the citizenry. As it is, some people are catalysts, agents of change per excellence within any given system. The more reason why the likes of the Managing Director of the World Bank will forever in the anals of history remain relevant wherever the Nigerian Democracy is mentioned.

The choice of Ngozi Okonjo-Iweala to come back to the country’s cabinet as a minister for the second time in the democratic life of the country bespeaks some fundamental truth about her life, a true nationalist with an undying love for her country. It is interesting to know that this is the first woman in the political history of the country to ascend the seat of Finance Minister and at the same time to have become the first female Foreign Affairs Minister. Her trail-blazing career is indeed a pride to our nation and an eloquent testimony of the huge potentials of the Nigerian woman.

The United Nations sees good governance from the perspective of “anti-corruption where the authority and its institutions are accountable, effective, efficient as well as transparent, amongst others”. Good governance, though difficult to achieve, can also be gradually attained by simply making the right decisions and this is why the current government is striving to apply the principles of good governance to improve the economic status of Nigeria by particularly picking Ngozi Okonjo-Iweala for the Finance Ministry the second time in the democratic life of the nation. Of particular interest is the fact that her tenure as the Finance Minister was a time she assiduously combated corruption, made Nigeria’s  Finances more transparent, and instituted reforms to make the nation’s economy more endearing and hospitable for foreign investment. It was at this time 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.

However, it is not out of place to make the person who had done it before successfully come back again. Given Mr. President’s desire for ‘transformation and change’, which has become the hallmark of the present administration, the World Bank woman will definitely be a plus to the government for this laudable purpose to be achieved. There is no doubt that there are a couple of people in the cabinet with the same kind of mindset of Okonjo-Iweala in this present administration. It is therefore a high expectation that with concerted coordination from the presidency, the needed change will be delivered irrespective of the rottenness within the system so far.

Interestingly, the thrills and applauses that greeted her choice ever since her name came on the list are worthy of note. This is borne out of the fact that there are a couple of people who came up for nomination but the hues and cries that greeted their choices equally revealed that Nigerians are wary of certain people and would not want them again in the system due to the unwholesome experience of the common people in Nigeria. There is no doubt that even in the face of the applauses on the part of the World Bank woman, there were criticisms from different quarters both on her person and the institution she works for. There is this argument that she is being planted by the World Bank in order to deplete the Nigerian economy. The reason for this mudslinging and misguided line of thought is unfounded but as the case may be, everybody has a point regardless of the reason for it. But one very clear point is that she has been a tested and proven hand who should be looked at from the perspective of the points she scored while in the system. For her success in our evolving democracy so far coupled with her global accomplishment, it is just a good thing at this time that the woman is being considered worthy to head the very important Finance Ministry and lead the Economic Team.

When she was screened by the Senate, she drew Nigerians attention to two practical facts devastating the economy. She disclosed that the country is living high above her means and the high rate of unemployment is an issue. These are major economic problems Nigerians are hoping she would address as soon as possible. In fact, her exploits speak loud enough.

Nigeria economy was rated as successful during her time; she was instrumental to reducing the nation’s debt of $30 billion dollars to $12 billion dollars and ensured that $12 billion was paid, supervising a financial discipline that cannot be avoided. Also, one very salient point is that for the first time in the history of the country, she was publishing financial allocations to states and local governments simply to promote transparency and accountability. She championed the economic reform programmes of the government and stabilized Nigerian economic growth.

In the same vein, she further created an account for excess crude oil to save for the raining days. According to the World Bank President, Robert Zoellick, “Ngozi’s contribution as managing director has been stellar. Her desire to serve her country is truly a big loss for the World Bank but a major gain for Nigeria, as it works to craft its economic way forward. We are truly proud that Ngozi is choosing to support her country in this way.”

In any part of the world, economic initiatives involve longer gestation for successful results.

Her intellect and global acceptance, even locally cannot be overemphasised. She was part of the team that wrote the blue print for the South East Asia economy. Her expertise, strength, dedication, patriotism, passion and integrity obviously prove that she is one of the best in her field. With all intents and purposes, Nigeria needs such personality to help to revive the ailing economy. So, whether it is by omission, commission or by design, the current government has realised her capacity to lead the economic team with the hope that she would repeat and even surpass the successes she recorded in her first coming.

My take as it were is that charting a course for good governance both in theory and in practice, citizens must be empowered to participate in meaningful ways, especially in decision-making processes which is part of the reform policies she believes and pursues.

This, as far as the country is concerned is very vital for its all round development. And for her to rebuild the foundation of quality output which she desires, being an intellectual is key but her World Bank experience in terms of the competency and dedication alluded to by Zoellick is sine qua non and fundamental key to her success in office. May her second coming produce the magic that would unlock our country’s economic potentials and set us on the path of rapid development

Sade Fatoke wrote from Abuja.

Press, Federal Ministry of Finance

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