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Okonjo-Iweala Cleared for WTO Top Job As Korean Candidate Officially Withdraws

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Yoo Myung-hee, the South Korean candidate for the World Trade Organisation (WTO) director-general position, has officially withdrawn her candidacy, TheCable can report.

This means that Nigeria’s Ngozi Okonjo-Iweala is now the sole candidate left in the race.

Yoo Myung-hee is South Korea’s trade minister and its candidate for the top job at the WTO following the resignation of Roberto Azevedo.

Washington Trade Daily first reported her withdrawal in November 2020 but it is not officially confirmed.

Ngozi Okonjo-Iweala had secured the popular vote by a wide margin on October 28 but was not named DG because the US opposed her candidacy.

After the October 28, 2020, meeting, the WTO also said Okonjo-Iweala had the best chance of getting a consensus.

The US had said it favoured Yoo over Okonjo-Iweala because WTO is in dire need of reform and must be “led by someone with real, hands-on experience in the field”.

There had been speculations in some quarters that the US would change its stance after Joe Biden won the US election, defeating Donald Trump.

“Due to the prolonged vacancy of the leadership at the WTO, the future of the organization also has become uncertain,” Yoo said at a press briefing in Seoul.

“To speed up the consensus-building among the member countries on selecting a new director-general, I have decided to renounce my candidacy through close cooperation with the United States, our strong ally.

“Washington, which showed strong support for my candidacy, also respects the decision to step down from the race.”

TheCable

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Insecurity: Akpabio Begs Tinubu to Reinstate Police Orderlies for NASS Members

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Senate President, Godswill Akpabio, has appealed to President Bola Tinubu to reconsider the directive withdrawing police orderlies from members of the National Assembly, citing safety concerns.

Akpabio made the appeal during the presentation of the 2026 budget to a joint session of the National Assembly, by President Tinubu, warning that some lawmakers fear they might be unable to return home safely following the withdrawal.

His said: “As we direct the security agencies to withdraw policemen from critical areas, some of the National Assembly said I should let you know they may not be able to go home today.

“On that note, we plead with Mr. President for a review of the decision.”

President Tinubu, on November 23, ordered the withdrawal of police officers attached to Very Important Persons (VIPs), directing that they be redeployed to core policing duties across the country.

According to Bayo Onanuga, Special Adviser to the President on Information and Strategy, Tinubu issued the directive after a security meeting with Service Chiefs and the Director-General of the Department of State Services (DSS) following heightened security issues in the country.

Under the order, VIPs requiring security are to seek protection from the Nigeria Security and Civil Defence Corps, as the Federal government seeks to boost police presence in communities, particularly in remote areas grappling with insecurity.

Tinubu later reaffirmed the directive on December 10, moments before presiding over the Federal Executive Council, expressing frustration over delays in implementation.

He instructed the Minister of Interior, Olubunmi Tunji-Ojo, to work with the Inspector-General of Police (IGP), Kayode Egbetokun, and the Civil Defence Corps to immediately replace withdrawn escorts to avoid exposing individuals to danger.

“I honestly believe in what I said…It should be effected. If you have any problem because of the nature of your assignment, contact the IGP and get my clearance,” Tinubu said.

“The minister of interior should liaise IG and the Civil Defence structure to replace those police officers who are on special security duties.

“So that you don’t leave people exposed,” he said.

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Defence Gulps Lion Share As Tinubu Presents N58.47trn 2026 Budget to NASS

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President Bola Tinubu has presented a budget of N58.47 trillion for the 2026 fiscal year to a joint session of the National Assembly, with capital recurrent (non‑debt) expenditure standing at N15.25 trillion.

Tinubu presented the budget on Friday, pegging the capital expenditure at N26.08 trillion and putting the crude oil benchmark at US$64.85 per barrel.

He said the expected total revenue is N34.33 trillion, projected total expenditure: N58.18 trillion, including N15.52 trillion for debt servicing. The budget is N23.85 trillion, representing 4.28% of GDP.

The budget was anchored on a crude oil production of 1.84 million barrels per day, and an exchange rate of N1,400 to the US Dollar for the 2026 fiscal year.

In terms of sectoral allocation, defence and security took the lion’s share with N 5.41 trillion, followed by infrastructure at N3.56 trillion.

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Mike Adenuga, Emmanuel Macron Hold High-Powered Meeting in Paris

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Accomplished billionaire businessman and Commander of the French Légion d’Honneur, Dr. Mike Adenuga Jr., GCON, CdrLH, has held a private meeting with the French President, Emmanuel Macron.

The two powerful citizens of the world held the meeting on Wednesday at the historic Élysée Palace in Paris.

The high-level engagement underscores the longstanding relationship between Dr. Adenuga and the French Republic, as well as his continued relevance in global business and diplomatic circles. 

A respected industrialist and philanthropist, Adenuga has been widely acknowledged for his contributions to economic development, telecommunications, energy, and humanitarian causes across Africa and beyond.

The meeting adds to Dr. Adenuga’s growing profile as a bridge between African enterprise and international leadership.

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