The Minister of Finance, Dr. Ngozi Okonjo-Iweala, has said the country is not broke despite the cash crunch currently being experienced.

She said that with the financial assets the President Goodluck Jonathan administration had been able to build over the years, the nation’s cash flow would improve over time.

In an interview with CNN’s Richard Quest, Okonjo-Iweala said, “Under this administration, we began the work of truly diversifying the economy and the proof of that is that much of the growth in this past few years that has come to the country has come not from the oil sector but actually from non-oil sectors like agriculture, telecommunications, manufacturing and the creative industries.

“The fact that oil prices fell by 50 per cent makes it very difficult in terms of cash flow, but Nigeria is asset rich and that is why when people say the country is broke, I say no. In economic terms, with the kind of assets we have, we should be able to realise some of them to improve our cash flow but it is true that this will be a very difficult year because of the cash crunch.

“However, we need to see this drop in oil prices as an opportunity. I gave a talk on Nigeria beyond oil. I really think with the growth of the country based on non-oil sectors, we ought to see the fall in oil prices as an opportunity to further the diversification that has started under this administration.”

http://www.punchng.com/business/business-economy/nigeria-is-not-broke-okonjo-iweala-2/

Dedicated to mhizpeaarl.....

Meanwhile.....

Beware of the poster below me

Frog face!

we know that already madam. but the money is not in the national treasury, i hope youre making the lists of how u dispensed the money

U again

Hehehehe..Nigeria is now rich.

SLIDEwaxie:
Frog face!

You fine pass am?

Lalasticlala

Bunch of deceivers. Broke, cash crunch...what's the difference? Nigeria is not broke, yet many states cannot pay salaries. Abeg jor!

XBLadez:

You fine pass am?

sure. If that is an argument.

Chiefpriest1:
Bunch of deceivers. Broke, cash crunch...what's the difference? Nigeria is not broke, yet many states cannot pay salaries. Abeg jor!

She's right, Nigeria is not broke. The money just doesn't go round

Yet we is borrowing to fund pay salaries (80% recurrent budget)

No worry na three bedroom flat only u go use for kirikiri

Madam, where the money dey? I don't blame you, of course you are not broke, but Nigerians are broke.

Very hard to eductae Nigerians when they cant even read...smh

PapaUwa:
Very hard to eductae Nigerians when they cant even read...smh

Dem get reading disorder thus trainable but not teachable

Yeye woman.

Madam, hopefully, by the time you are sent to
jail, two months after, those fat cheeks, neck,
and lips of your would shrink to a level even your children wouldn't recognise you.

Your economic policies put Nigeria in the very
bad situation she finds herself today, but
unfortunately, you and your household can't feel
its impact because you've already secured your
end with stolen funds. Your useless voodoo
economics have resulted in the deaths of
countless number of kids and pensioners and
you would pay dearly for that someday soon.

By the way, how come all of a sudden, we are not getting anything from your propaganda publications NOI Polls anymore?? I bet they are no longer useful since your principal lost his election.

omenka:
Yeye woman.

Madam, hopefully, by the time you are sent to
jail, two months after, those fat cheeks, neck,
and lips of your would shrink to a level even your children wouldn't recognise you.

Your economic policies put Nigeria in the very
bad situation she finds herself today, but
unfortunately, you and your household can't feel
its impact because you've already secured your
end with stolen funds. Your useless voodoo
economics have resulted in the deaths of
countless number of kids and pensioners and
you would pay dearly for that someday soon.

By the way, how come all of a sudden, we are not getting anything from your propaganda publications NOI Polls anymore?? I bet they are no longer useful since your principal lost his election.

mumu,you posted this same comment on two threads.
better go find a better job you Apc situation room worker.

Lmao! Somebody copied this thread, recreated it, and pushed it to front page. Funny Nairaland.
Lalasticlala, check the time. This injustice must stop

starlingslimnet:
Dedicated to mhizpeaarl.....

Meanwhile.....

Beware of the poster below me

wat poster

.

Very Irritating!!!! Madam Voodoo-Economics....!!! that's the problem when you hire textbook economists!!

We are not broke but we are borrowing money to pay for salaries, i really dont understand this woman economy policies again....