World Bank managing director Ngozi Okonjo-Iweala resigned her post on Friday in order to become Nigeria's new finance minister, spurring hopes of reform in sub-Saharan Africa's second biggest economy.

Okonjo-Iweala will take up an expanded position as Coordinating Minister for the Economy and Minister of Finance in Nigerian President Goodluck Jonathan's new cabinet, World Bank President Robert Zoellick said in a statement.

"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," he said.

Government sources told Reuters two weeks ago that Jonathan had asked Okonjo-Iweala, a respected former finance minister who helped negotiate debt rescheduling in 2005, to return to her old position with broad powers over economic management.

Jonathan was sworn in for his first full term on May 29 following general elections and his ministerial choices are being closely watched by Nigerians and foreign investors keen for a team capable of driving badly needed reforms.

"We think President Goodluck Jonathan's selection of the World Bank MD will result in a vote of confidence for his administration, and suggests he is serious about initiating fiscal reforms," Renaissance Capital said in a research note.

Sun of god:

How many times will this story be recycled?

And whats with its elevation to front page?

Why dont you also move it to the tribalism section you bunch of incompetents. . . . .

alj_harem:

what an ideeiotic responds

Johnpaul2k2:

with this responds of yours 'son of gods' envy wil be use to design your grave 

Funkymallam:

Sun of god or woteva u call urself, u sound like one of those pepetual waec candidates. Its bed time son,

MeGaStReEt:

I can do it

born2fuck:

Who will not do it, it is easier to steal money from Nigeria than the whole world himself,  not to think of world bank, lol,if she has been stealing $1M from world bank monthly before, it will increase  to $5M  in Nigeria monthly, Believe me

Obiagu1:

This is just crazy. Resign for Nigeria

Sun of god:

I'm sure she's still on the 'World Bank' payroll.

(She's talented - [size=14pt]but greedy[/size])

dem_people:

How? 

Sun of god:

On the one hand she talks about resigning from the world bank to serve Nigeria. . . . .

And on the other hand there are stories about her salary demands and currency it should be paid in. . .

If she really wanted to serve Nigeria whole heartedly, money wouldn't be an issue.

She's out for the maximum amount of money and recognition she can get for her talents.

Sun of god:

On the one hand she talks about resigning from the world bank to serve Nigeria. . . . .

And on the other hand there are stories about her salary demands and currency it should be paid in. . .

If she really wanted to serve Nigeria whole heartedly, money wouldn't be an issue.

She's out for the maximum amount of money and recognition she can get for her talents.

queensmith:

Im yet to understand why people love this woman soo much.What difference has her influence or the WB reflection of Nigerias economy, made to each of your lives individually?
What new developments have u noticed that can be directly connected to herself or improvement of the nation?
Excessive media hype- How much are they going to pay her? How much of Nigeria will Nigerians own after shes done?

The country has only just started!! you all have no idea!

alj_harem:

Iweala God/Allah bless you a lot for doing this for us (that is if u do not loot like the rest)

all those haters like "Sun of god" can go hug transformer while you would be transforming our nation

We wish you and Goodluck(if u 2 do not loot) the best of luck and blessing for this nation

do it to the best of your knowlege

ebere1712:

Hopefully this means she has come to do her best. God help her and our young country. BTW Nigerians have the right to be the biggest cynics in the world. We have suffered enough.