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Femifezzy
US Wants WTO DG Race Reopened_Suggests Okonjo Iweala Lacks Experience
~1.8 mins read
The United States (US) has suggested that the process to find a new director-general of the World Trade Organisation (WTO) needs to be reopened, BBC is reporting.

Donald Trump’s trade representative Robert Lighthizer told the BBC on Wednesday that the WTO needs “someone with real experience in trade”.
Despite widespread support from 110 out of 164 member countries of WTO, the US is doubling down on its rejection of Ms Okonjo-Iweala, a former Nigerian minister of finance and former managing director (MD) of the World Bank.

The WTO operates based on consensus, that is, if one country opposes a candidate, a final decision cannot be made.

President Trump’s top official on trade, Robert Lighthizer’s remarks on Wednesday to the BBC confirm that there is no way the Trump administration will be persuaded to back the Nigerian ex-finance minister in its remaining weeks in office.

He said the WTO is “massively in need of reform”, especially its dispute-resolving appellate body, which according to him, has evolved into a body creating a common law of trade, “taking away benefits” that members had negotiated for ” and putting restraint on things that had been conceded”.

The appellate body of the WTO has been rendered inactive by Donald Trump’s administration vetoing the appointment of new judges.

“I think there’s a consensus developing at the WTO that we need the appellate body reform,” Lightizer said.

“We need to start negotiating again, we need to start making headway. So I’m glad you brought up the WTO, it’s been clearly a focus for us and to us its an organisation that started off as a good idea and basically isn’t functioning very well, but I think that can be sorted out also.”

The impasse at the WTO comes at a sensitive time for global trade, which has suffered because of the coronavirus pandemic.

Ngozi Okonjo-Iweala on her part has insisted she is the right person for the job and has the right experience with both trade and delivering reform. Her spokesperson told the BBC: “Dr Okonjo-Iweala looks forward to engaging with the Biden administration and is hopeful that final consensus can soon be reached. The WTO urgently needs to get to work at this time of global crisis.”

https://africaexplained.com.ng/us-wants-wto-dg-race-reopened-suggests-okonjo-iweala-lacks-experience/

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Femifezzy
HURIWA: Buhari Should Return Cooking Gas Price To How He Met It In 2015
~2.0 mins read
Civil rights advocacy group, Human Rights Writers Association of Nigeria, has asked the President, Major General Muhammadu Buhari (retd.), to return the price of Liquefied Petroleum Gas popularly called cooking gas to how he met it in May 2015 when he assumed office.National Coordinator of HURIWA, Emmanuel Onwubiko, made this known in a chat with The PUNCH on Saturday.According to Onwubiko, Nigerians have nothing to jubilate or rejoice over about the recent marginal drop in the cost of cooking gas.According to PUNCH findings, the price of 12.5kg LPG has dropped from N8,800 to between N8400 and N8200. In some outlets, the price of the commodity dropped to between N7,800 and N8,000 as of Thursday.The product had increased by 240 per cent for 12.5kg, moving up from N3,000 to N10,200 within the first 10 months of 2021.The development forced some LPG users to shift to charcoal or firewood, as consumers of the commodity raised the alarm over the persistent hike in its price.The Programme Manager, National LPG Expansion Implementation Plan, Office of the Vice President, Dayo Adeshina, had said the Federal Government was putting measures in place to ensure further reduction in the cost of cooking gas.However, in a chat with our correspondent on Saturday, the HURIWA coordinator said the marginal reduction (less than N1,000) in the price of cooking gas is not substantial.Onwubiko said, “The failure of the relevant governmental bodies to regulate the pricing of gas assets in Nigeria is a recipe for encouraging the ballooning poverty situations that we have witnessed since 2015 that President Muhammadu Buhari has operated economic policy frameworks devoid of progressive mechanisms.

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