Okonjo-Iweala recounts how Nigeria won historic Paris Club debt relief

The Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has recounted how a carefully executed public communication strategy played a decisive role in helping Nigeria secure its historic Paris Club debt relief during the administration of former President Olusegun Obasanjo.

Speaking on Thursday at the public presentation of “The Pain and the Promise,” a new book by communications expert and public affairs analyst, Paul Nwabuikwu, Okonjo-Iweala said the success of the country’s economic reform programme depended not only on sound policies but also on convincing Nigerians to embrace difficult but necessary reforms.

The former Minister of Finance recalled that she returned to Nigeria from the World Bank in 2003 with the mandate to stabilise the country’s finances and negotiate the cancellation of its roughly $30 billion debt owed to the Paris Club of creditors.

“I had been brought in from the World Bank to help straighten up and strengthen Nigeria’s weak finances, including getting rid of the $30 billion of the country’s debt owed to the Paris Club,” she said.

According to her, achieving that objective required sweeping economic reforms that demanded public understanding and sacrifice.

“To do this work, I knew Nigeria would have to undertake serious economic reforms of the type that would demand understanding and sacrifices from Nigerians.”

Okonjo-Iweala said she recognised early that the reform agenda would only succeed if citizens clearly understood why the policies were necessary, prompting her to recruit Paul Nwabuikwu to lead public communications for the economic team.

“One important component in my mind then was that we would need a crack communications person or team to help us reach Nigerians, to explain all of this in simple language. That is where Paul came in.”

She described Nwabuikwu as “smart, articulate, compassionate, a terrific writer and communicator,” crediting his communication strategy with helping the government build public confidence throughout the reform process.

“I can say without fear of contradiction that we wouldn’t have had as much success with the reform programme if we had not had a masterful steering of communications from Paul.”

She stressed that successful reforms in a democracy go beyond introducing new laws or policies.

“Reform is not just about writing new laws and enforcing new policies. It’s about persuading people, explaining trade-offs and building enough trust that governments can keep pushing through obstacles.”

Reflecting on Nigeria’s current challenges, the WTO chief lamented that persistent ethnic, religious and regional divisions continue to hinder national development.

She argued that lasting progress would remain elusive unless Nigerians united around a common national vision that transcends sectional interests.

“Until Nigerians can overcome the ethnic, religious and regional divides embedded in our society to forge a social compact that agrees key directions for the nation… Nigeria will find it difficult to move forward at the pace required to create enduring prosperity for our people.”

Okonjo-Iweala also urged Nigerians to prioritise competence over ethnic or regional considerations, insisting that talent exists across every part of the country.

“I believe in talent from every corner of Nigeria. There’s no place in Nigeria that doesn’t have talented people. I don’t care what part of the country you come from.

“I just wanted you to do your job and do it professionally.”

Reviewing Nwabuikwu’s 300-page book, she described it as a compelling account of Nigeria’s political, economic and social evolution over the past three decades, recommending it particularly to young Nigerians seeking a deeper understanding of the country’s history and governance.

Nigeria secured a landmark Paris Club debt relief agreement in 2005, with creditors writing off about $18 billion—roughly 60 per cent of the country’s estimated $30 billion bilateral debt.

The historic deal was concluded under the Obasanjo administration and fully implemented on April 21, 2006.

Also speaking at the event, former Minister of Aviation, Osita Chidoka, said Nigeria needs constructive critics, public officials willing to accept scrutiny, and citizens prepared to bridge the gap between government and the people.

“There is pain, and I must say we all know that much of it is self-inflicted and not necessarily prolonged, but there is also promise in our people, in our creativity, and in the possibility of that thoughtful engagement,” Chidoka said.