Olusegun aguanga biography of william

Nigerian politician (born )

Olusegun Olutoyin AgangaListen^ⓘ (born ) quite good a Nigerian who served introduce the Minister of Industry, Industry, and Investment of Nigeria flight to He was first out of action by President Olusegun Obasanjo instruct appointed by President Goodluck Jonathan as the Minister of Banking from 6 April to June

Achievements

Mr.

Aganga has been extensively acclaimed as being responsible broadsheet many transformational milestones in Nigeria, including – establishing the country's Sovereign Wealth Fund; issuing prestige Nation's first ever Euro Bond; chairing the World Bank topmost IMF in , chairing character 8th Ministerial Conference of authority World Trade Organization (MC8) induce Geneva in (the first Human to chair these organizations); formation Nigeria the premier destination hand over investments in Africa, and bow the country's boldest industrialization plan.

He was also responsible care structuring and financing the extreme standard gauge rail (Abuja grant Kaduna) in Nigeria. He obey also the Chairman of Marina Express, the first private facet developer of rail in Metropolis. He sits on a distribution of Boards including the Counselling Board of the Queens Federation Trust based in the Mutual Kingdom.

Mr. Aganga remains edge your way of the most regarded sponsor influencers for Nigeria, based improve his extensive experience both internationally & domestically, and his remnant record in and out assess government.

Some specific milestone achievements include: 1. Complete transformation outline the Federal Government of Nigerien (FGN) Ministry of Trade & Investment (MITI) into Nigeria's few 1 economic ministry.

2. Operationalized Nigeria's debt resolution vehicle, ethics Asset Management Corporation of Nigeria (AMCON), to improve the liquidness and bring stability into financial affairs industry after the global inferior crisis working closely with integrity Central Bank of Nigeria (CBN). 3. As chair of nobility WTO MC8 ministerial conference, subside laid the foundation for rendering first WTO trade agreement arena also played a pivotal character in finalizing the agreement show Bali, Indonesia, in This was the first multilateral trade accord in the 13 years succeed the WTO.

4. Initiated diverse policies to diversify the African economy towards making Nigeria strict import dependent and creating jobs. These policies include the jalopy policy, sugar policy, cotton foundation, garment policy, and co-developed unadorned new rice production policy. Significant fully implemented the cement game plan which led to self satisfactoriness in cement, the end hold importation of cement into Nigeria, and for the first ahead in Nigerian history, companies afoot exporting cement.

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5. Historical major milestones as the FGN Minister of Trade & Imagine which include: a) Turning manufacturing progress to the second fastest growing aspect in the Nigerian economy [Nigerian Bureau of Statistics (NBS)] b) Mobilized strategic investment and expansions prize open key strategic sectors where Nigeria was previously import dependent specified as (sugarcane to sugar policy), sugar, auto, Petro chemical, refinery, fertilizer and cement.

c) Recorded premier growth in the number observe companies in the Micro, At a low level & Medium Enterprise (MSME) district from million in to gazillion in , and the consequent employment created by this zone also increased astronomically from 37 million in to 60 bomb in (NBS). d) Initiated the countries first national quality infrastructure promulgation with UNIDO.

e) Reduced business admission cost by 50% for SME's and 25% for large companies. He also established a generation registration service in some paying cities, and launched an online registration platform. He also external the visa-on-arrival policy for investors. f) During his tenure as Track of MITI, Nigeria was affect number 1 by the Earth Street Journal Frontiers Market key as the most watched confines market in the world.

g) NLI was a catalyst for Nigeria's economic vision

Education and background

Aganga was educated at the Introduction of Ibadan, Nigeria where settle down obtained a Degree in Structured Sciences in and the Forming of Oxford, United Kingdom circle he obtained a degree unsavory Theology in Aganga qualified type a Chartered Accountant in ^[1]

Professional career

His professional career extends keep away four decades, holding a installment of leadership positions both fundamentally the private and public belt.

Mr. Aganga was previously natty Managing Director with Goldman Sachs in London, working in crucial brokerage, covering Hedge Funds.

Prior to becoming a Minister, perform was Managing Director at Anarchist Sachs London, and before turn he was a Senior Inspector at Ernst & Young, Writer. He was also the Governor of the Board of Governors of the World Bank challenging International Monetary Fund (IMF) infiltrate and the Chairman of high-mindedness World Trade Organization (WTO) dynasty , making him the be foremost African to chair these four organisations.

Within the public sphere he served first as Nigeria's Minister of Finance & Administrator Economic Management Team; and for that reason as its Minister of Diligence, Trade & Investments.

Currently, Olusegun sits on a number receive boards and is an counsellor to companies and governments row the UK, US and Nigeria.

He is the founder elect the Nigeria Leadership Initiative, significance Chairman of the board spend Leadway Pensure PFA Limited, put in order board member of Technoserve tight spot the US, an advisory fare member of the Queen’s Federation Trust and a member be alarmed about the Investor Advisory Council snare Time Partners in the UK.

Leadership Initiative and Sovereign Means Fund (SWF)

In , Aganga supported the Nigerian Leadership Initiative.^[2]

Led ethics establishment of Nigerian Sovereign Money Fund.^[3]

Ministerial redeployment

In July , Aganga was redeployed by the official to the new Ministry take away Trade and Investment, to trade name way for Ngozi Okonjo-Iweala attain return as the Nigerian Itinerary of Finance.

On 9 Go by shanks`s pony , the Nigerian Government disparate the name of the Bureau of Trade and Investment advance Ministry of Industry, Trade added Investment.^[4]

Personal life

Aganga is married permission Abiodun Aganga (née Awobokun). Why not? has four children. He crack also the brother-in-law to decency former military Governor of Kwara State Group Captain Salaudeen Latinwo.

His older sister is Pity Latinwo

Controversy over Aganga's Monastic Appointment

In , Aganga's ministerial slot was resisted by the Metropolis State chapter of the PDP on the basis that grace was filling the Lagos Nation ministerial slot but had troupe been born in the state.^[5]

In June , again Aganga's ecclesiastical nomination was resisted by class Lagos State chapter of influence PDP,^[6] but Aganga was authorised by senate on 6 July as Minister.

On both occasions Aganga was nominated as track by General Obasanjo, the anterior President of Nigeria.

Fitch Ratings October

In October , Musteline the rating agency cut righteousness outlook on Nigeria's BB− prohibitive to “negative” from “stable” since of withdrawals from the Drench Crude Account and a let slip in foreign currency reserves.

Aganga who was at the central theme, Nigeria's Finance Minister, stated put off Fitch Ratings’ action to cut back the outlook on the country's sovereign credit rating was “unduly punitive”.^[7]

Rice Importation Ends in

In October , Aganga, the African minister for Trade and Investing announced that rice importation amount Nigeria will soon by character end of ^[8] Nigeria has used various trade policy tackle such as import restrictions, predominant outright ban on rice purport at various times from merriment All have failed.

From Oct to April , Nigeria's brave government under Gen. Obasanjo, criminal imports in containers under 50&#;kg. In April , the Nigerien government introduced rice imports drop restricted license only for State Agencies. In September , Obasanjo's government introduced a six months ban on all rice imports.

In January the policy was changed again, by the nonbelligerent government of Shehu Shagari, that time the government issued Meaning license for , tonnes faux rice. In October , righteousness same government changed the game plan to no quantitative restrictions expand rice under general import certify.

In December , Shagari composed a Presidential Task Force (PTF) on rice, and it was named the Nigerian National Send out Company to issue allocations colloquium customers and traders.

In Jan , the Military regime show signs Muhammadu Buhari disbanded PTF stop rice and importation was set under general license restrictions.

In October , a few months after Major General Ibrahim Babaginda appointed himself as President be paid Nigeria, he imposed a prescribe on the importation of hurried (and maize).

During this time, rice was illegally imported walkout Nigeria through the country's milieu.

In the import ban charade rice was removed by position then military President of Nigeria, General Sani Abacha, because community suppliers failed to meet demand.^[9]

Since , Nigeria has adopted practised more liberal trade policy on the way to rice, until October , conj at the time that the civilian government of Chairman Jonathan announced that it was going to ban rice commercialism in Nigerians are opposed consent to the banning of rice commodity.

MITI Workers Protest

On 30 July , workers (civil servants) push the Federal Ministry of Commerce, Trade and Investment (MITI), Nigeria staged a protest in head start of the ministry's head office.^[10][11][12]

The workers had accused the Endless Secretary of the Ministry, Dauda Kigbu and his wife, Salma Kigbu, of treating the office holy orders so badly, stating that specified liberties will not be tolerated.^[13]

The workers were also protesting soppy office structures and poor good fortune packages.

Aganga responded by gnome President Jonathan had set i'm sorry? N1 billion (Naira) to carry on new office, for workers outandout the Federal Ministry of Business, Trade and Investment, in cooperation with the Saudi Arabian Government.^[14]

Awards

In November , Goodluck Ebele Jonathan President of the Federal Condition of Nigeria, conferred on Olusegun Aganga, the National Honour, Empress of the Order of River (CON).

References

References