Day11:
$63 billion USD.


The funny part is, "it would take over 228 years to repay Nigeria’s debt"

Kagarko:
Nigerians elites are sometimes funny.
If you claim the APC figure is wrong, now tell us, how much is the debt you met and how much are you leaving behind?

If you do this, you have rest your case simple.

I even forgot that she had an advance degree in economicslying!

AmucheJane:
Somepeople don't like the woman because she is an igbo woman, haters should go and die. APC should come and challenge her, nonsense people, always making noise. Igbo people no dey carry last, so the woman toomuch. Some of u people talking nonsense, una mama no even enter class room let alone obtaining any certificate.

tomakint:
$63 Billion debt was reported to be accumulated debt from 1960 till date, how come the Obj's administration was silent about this........and the Ota Clown was boasting of paying off Nigeria's debt My respect for this Amazon just doubled. Imagine the miserable leaders we have been parading all these years.

AmucheJane:
Somepeople don't like the woman because she is an igbo woman, haters should go and die. APC should come and challenge her, nonsense people, always making noise. Igbo people no dey carry last, so the woman toomuch. Some of u people talking nonsense, una mama no even enter class room let alone obtaining any certificate.

How many trillions (in actual fact) have been ‘lost’ through customs duty waivers over the last four years? As coordinator of the economy, can you tell Nigerians why the price of automotive gas oil (AGO), popularly called diesel, has still not come down despite the crash in global crude oil prices, and how much is being appropriated by friends in the process? Be honest: do you really know (as coordinator and minister of finance) how many trillions of Naira, self- financing government agencies earn and spend? I have a long list but let me wait for now. I do not want to talk about other ‘black pots’ that impinge on national security.

My estimate, Madam, is that probably more than N30 trillion has either been stolen or lost or unaccounted for or simply mismanaged under your watchful eyes in the past four years. Since you claim to be in charge, Nigerians are right to ask you to account. Think about what this amount could mean for the 112 million poor Nigerians or for our schools, hospitals, roads, etc. Soon, you will start asking the citizens to pay this or that tax, while some faceless “thieves” were pocketing over $40 million per day from oil alone.

You alluded to debt relief in your response and tried to take credit. Well, your CV is honest enough to admit that your two achievements in office as Finance minister under Obasanjo were that “you led the Nigerian team that struck a deal with the Paris Club” and that you “introduced the practice of publishing each state’s monthly financial allocation in the newspapers”. You are right about the two achievements.

Let me put on record that Nigeria would have secured debt relief under anyone as Minister of Finance. President Obasanjo secured debt relief for Nigeria. Much of his first term was used to get Nigeria back into the international community and to campaign for debt relief. Before you were sworn in as Minister of Finance, President Bush visited Nigeria and both of us accompanied President Obasanjo during the meeting. There, Mr. Bush promised to support Nigeria with debt relief and asked our president to ensure that he met the conditions of the Paris Club. Obasanjo mobilized the global political support and coordinated all of us to ensure that the government met the check-list of ‘conditionalities’ as required. I spent five weeks in the hotel with my team (as coordinator/chairman for drafting the National Economic Empowerment and Development Strategy, NEEDS).

Some of the reform targets in NEEDS became the ‘conditionalities’ Nigeria was required to fulfil to merit debt relief. You and I signed the various MoU with the IMF on behalf of Nigeria (the policy support instrument). We had a great team at work and each member of the economic team had specific aspects of the conditionalities to deliver: Bode Agusto was in-charge of the budget; Oby Ezekwesili held sway at Bureau of Public Procurement and later Minister of Solid Mineral, and Education (but specifically tasked with delivering on EITI and procurement reforms); Nuhu Ribadu was at the EFCC fighting corruption; I was at the Central Bank delivering on monetary policy and banking reforms; Steve Oronsaye worked hard to delist Nigeria from the FATF; Nenadi Usman was in-charge of the parastatals; El-Rufai held forth at FCT and in charge of public sector reforms; privatization programme went on, etc.

Did you know that the IMF wrote President Obasanjo threatening that there would be no debt relief if the CBN did not meet some monetary targets, and do you know the magic we performed to meet them? Can you tell Nigerians which of the ‘conditionalities’ that you personally implemented? With the groundswell of political support and Nigeria meeting all the ‘conditionalities’, debt relief was assured.

By the way, can you tell Nigerians why you were eased out as Finance Minister and you cried like a baby begging OBJ to still allow you remain in the Economic Management team—- barely few weeks after the debt relief? Why were you eventually also removed from the economic management team if you were so important? Ironically, President Jonathan has recycled you, with a bigger title and greater responsibilities. But the difference is that the team that did the actual work is no longer there, and the world has seen that the king is naked.

You are brilliant Madam, but you need serious help. Having spent all your life in the World Bank bureaucracy largely in administration/operations, no one will blame you if your economics has become a bit rusty. There are firebrand Nigerians all over the world to draft to service. It is certainly embarrassing to Nigeria for you to be bothering World Bank economists to help you with most basic economic analysis.

AmucheJane:
Somepeople don't like the woman because she is an igbo woman, haters should go and die. APC should come and challenge her, nonsense people, always making noise. Igbo people no dey carry last, so the woman toomuch. Some of u people talking nonsense, una mama no even enter class room let alone obtaining any certificate.

AmucheJane:
Somepeople don't like the woman because she is an igbo woman, haters should go and die. APC should come and challenge her, nonsense people, always making noise. Igbo people no dey carry last, so the woman toomuch. Some of u people talking nonsense, una mama no even enter class room let alone obtaining any certificate.

jorlons:
First you people said Nigeria was debt free under OBJ. Now it has suddenly become an accumulated debt from 1960 till date.

Madam headgear should tell us which to believe, whether Nigeria was at any point debt free or if she's suffering from amnesia, cause I don't see any reason why she should be lying or is she now the minister of lying affairs