A former Minister of Petroleum, Prof. Tam David-West, has replied the Minister of Finance and coordinating minister of the economy, Dr Ngozi Okonjo-Iweala, over her advice on how the incoming administration of Gen Muhammadu Buhari can increase revenue, saying the new president does not need her expertise.

David-West, who spoke to our reporter in Ibadan, the Oyo State capital Friday, said Buhari is highly experienced in the art of governance, stressing that he knows what to do to manage the economy well.
He said that while Okonjo-Iweala supervises a Nigerian economy where a United States (US) dollar exchanges for N190, Buhari, during his days as the Head of State, supervised an economy where N1 exchanged for US$1.5.

His words: “I read Okonjo-Iweala’s advice to Gen. Buhari on how to raise revenue with interest and amusement. I don’t think that Buhari needs any advice from her on the subject. He is not new on the terrain. He is a very knowledgeable person on how to move the economy forward. I don’t believe he needs advice from Okonjo-Iweala.

“When Buhari was in charge, oil was $30 per barrel. It even went down to $15 per barrel. Yet, he managed the economy very well. Oil price is now double that price and they are complaining that oil price has fallen.

“Buhari can manage the economy better than Okonjo-Iweala. He never took International Monetary Fund (IMF) loan neither did he flirt with IMF. He refused to devalue the Naira in spite of the problem the country was facing from different areas. $1.5 exchanged for N1. But during Okonjo-Iweala’s time, it is N190 to $1.

“Finally, it was N2 to £1. During Okonjo-Iweala’s time, it is N240 to £1. Buhari did not import fuel; he was exporting whereas Okonjo-Iweala imports fuel with bogus subsidy running to trillions of Naira. And she has not been able to arrest anyone involved in subsidy scam let alone get a refund from any of them.

“Nigeria is the only country in the world where Okonjo-Iweala is the Finance Minister and coordinating the economy where provision is made for fraud in the annual budget by way of subsidy. So, Buhari does not need her advice.”

dunkem21:
Who is Tam David West?

Nazeeboy:
Gbam! E don happen be that. See david west dey talk like him too buhari need him advice. Even u buhari no need your advice.

SmartChoices:


Okonjo surprises me... Am amazed at how she climbed so high at the world bank really.... She seems less knowledgeable than a PhD student at the university of Ibadan in matters of Economics ...

lanrefront1:


I don't think you know about the relationship between Tam David-West and Buhari. if there someone that Buhari trusts and knows he can completely rely upon, someone who is off like mind like him(Buhari) Tam David-West is definitely that person.

As for Iweala, she's a stooge of the world bretton institutions; her loyalty is not to Nigeria. She'll like to please her employers whom she's about to return to. That's where her loyalty lies.

Boss13:
Nail on the head David West. Nail on the head. You cannot advise someone when you have done a poor job. NOI thinks it's about raising taxes to shore up revenue, whilst there are numerous leakages and corruption affecting revenue generating government institutions. She must acknowledge that she and her team did a poor job on a macroeconomic level. It is not about Integrated Payment Systems alone and statistically rebasing or redefining the GDP, but stimulating the economy for real economic growth.

Nazeeboy:
Gbam! E don happen be that. See david west dey talk like him too buhari need him advice. Even u buhari no need your advice.