Nigerian economist, director-general of the World Trade Organization since 2021
The US‑Israel war on Iran has pushed energy, fertilizer and transport costs higher and forced global agencies to cut growth forecasts. The OECD and other groups have reduced 2026 growth projections, UNICEF has reported soaring freight bills and delivery delays, and US consumer sentiment has ticked up slightly as gas prices ease (15 June 2026).
The UN and world powers are pressing for governance reform as demand for critical minerals rises. Leaders warn that without local processing and stronger rule of law, mining profits will bypass local communities and fuel conflict. New commitments aim to channel wealth into public services and jobs amid a global scramble for cobalt, lithium, nickel and rare earths.