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Okonjo-Iweala Reveals How Nigeria Won $30bn Paris Club Debt Relief

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July 30, 2026
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The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has revealed that a well-planned public communication strategy played a crucial role in Nigeria’s successful negotiations for the historic Paris Club debt relief secured during the administration of former President Olusegun Obasanjo.

Speaking at the public presentation of The Pain and the Promise, a new book by communications expert and public affairs analyst Paul Nwabuikwu, Okonjo-Iweala recalled her return from the World Bank in 2003 to serve as Nigeria’s Finance Minister and lead efforts to rebuild the country’s struggling economy.

She explained that one of her key responsibilities was negotiating the cancellation of Nigeria’s nearly $30 billion debt owed to the Paris Club of creditor nations, a process that required difficult economic reforms and broad public support.

According to her, gaining the trust and understanding of Nigerians was essential to implementing those reforms.

“I was brought in from the World Bank to strengthen Nigeria’s finances, including eliminating the country’s $30 billion debt to the Paris Club. Achieving that required major economic reforms that demanded understanding and sacrifice from Nigerians,” she said.

Okonjo-Iweala noted that effective communication became a central part of the reform agenda, prompting her to recruit Paul Nwabuikwu into the economic team.

She described him as an exceptional communicator whose ability to explain government policies in simple terms helped secure public support for the reforms.

“I can confidently say we would not have achieved the same level of success without Paul’s outstanding leadership in managing communications,” she said.

She stressed that reforms in a democratic society require more than introducing new laws or policies.

“Successful reform is about persuading people, explaining the necessary trade-offs and building enough public trust to sustain difficult decisions,” she added.

Okonjo-Iweala also expressed concern over Nigeria’s persistent ethnic, religious and regional divisions, warning that they continue to hinder national progress.

She said the country must build a lasting national consensus that rises above sectional interests if it hopes to achieve sustainable development and prosperity.

“Until Nigerians overcome these divisions and agree on key national priorities that remain consistent regardless of who is in government, it will be difficult for the country to move forward at the pace needed to deliver lasting prosperity,” she said.

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The WTO chief emphasized that talent exists across every region of Nigeria and urged leaders to prioritize competence over ethnic or regional considerations.

“I believe every part of Nigeria has talented people. What matters is professionalism and the ability to deliver results,” she said.

Reviewing The Pain and the Promise, Okonjo-Iweala described the 300-page publication as an insightful account of Nigeria’s political, economic and social journey over the past 35 years.

She said the book combines historical reflections, personal experiences and public commentary to provide valuable lessons for younger generations seeking to understand the country’s development and ongoing challenges.

Nigeria secured a landmark $18 billion debt relief agreement from the Paris Club in 2005, eliminating about 60 percent of its approximately $30 billion bilateral debt. The debt deal was completed on April 21, 2006, under President Olusegun Obasanjo’s administration.

Former Minister of Aviation Osita Chidoka, who also spoke at the event, said Nigeria needs constructive critics, public officials who welcome accountability and citizens willing to bridge the gap between governance and public engagement.

He acknowledged the country’s challenges but expressed optimism that Nigeria’s creativity and commitment to meaningful dialogue remain strong foundations for future progress.

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Tags: Director-General of the World Trade Organization (WTONgozi Okonjo-IwealaParis Club debt

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  • Tope Alabi warns of legal action over false, defamatory claims
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