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Congratulations to former Nigerian finance minister Ngozi Okonjo-Iweala, who has received unanimous backing to become the first woman, and the first African, to run the World Trade Organization.
Okonjo-Iweala was chosen as the WTO’s next director general at a special meeting of its General Council today — nearly three months after her appointment was blocked by the US.
BREAKING: Ngozi Okonjo-Iweala from Nigeria is appointed as the next WTO Director-General.
Dr. Okonjo-Iweala makes history as the first woman and the first African to lead the WTO.
Her term starts on the 1st of March 2021.
More details soon. #WTODG@NOIweala pic.twitter.com/2RJkkfK2Id
Related: 'I'm a fighter': WTO's first female, African head ready for battle
“The WTO needs … a fresh look, a fresh face, an outsider, someone with the capability to implement reforms and to work with members to make sure the WTO comes out of the partial paralysis that it’s in,” Okonjo-Iweala said in an interview with CNN.
Ada Osakwe, an economist who worked with Okonjo-Iweala in government, said the appointment was “big deal for Africa and it’s a big deal for the world”. “Having such a remarkably accomplished woman take the helm of an institution that needs some level of a shake-up, given everything that’s happening with trade in the world, the fights between the US and China. She has been in the trenches,” she told the Guardian.
Over in Texas, electricity prices have surged dramatically as the state is hit by a harsh winter storm, forcing blackouts.
Reuters flags up that the spot price of electricity on the Texas power grid spiked more than 10,000% on Monday, as snow and ice sent temperatures plunging across the southern US plains states.
Real-time market prices on the power grid operated by the Electric Reliability Council of Texas (ERCOT) have climbed as high as $11,000 per megawatt, according to ERCOT. A typical price on the grid, which supplies most of the electricity for Texas, is less than $100 per megawatt.
From East Texas to El Paso, Texas natural gas prices going hockey stick today… Waha up almost 5000% (five thousand percent) from last week pic.twitter.com/eKceoFDLIk
Related: Winter storm brings snow and ice across southern US as temperatures plunge
Ice storms knocked out nearly half the wind-power generating capacity of Texas as a rare deep freeze across the state locked up turbine towers while driving electricity demand to record levels, the state’s grid operator reported https://t.co/ks2juB7gPI pic.twitter.com/Y8lf5TsCDp
Rotating blackouts were enforced in Texas to reduce demand on the electric system amid icy storms, state's grid operator Electric Reliability Council of Texas said https://t.co/jIaI92V0tD
