Ngozi Okonjo-Iweala, former minister of finance, says her statement blaming the lack of political will to save funds under the administration of former President Goodluck Jonathan has been taken out of context.

Speaking on the Chilean saving example at the George Washington University on Thursday, the former minister had said “zero political will to save in the last administration” was responsible for some of the challenges facing the country.

But in a statement issued on Friday, Paul Nwabuikwu, media aide of the two-time minister, said Okonjo-Iweala was referring to the opposition of some governors to the efforts of the immediate past administration to save in the excess crude account (ECA) and in sovereign wealth fund (SWF).

“Some recent media reports have distorted comments made by former Finance Minister Dr Ngozi Okonjo-Iweala regarding how lack of political will negatively impacted national savings over the past few years,” the statement read.

“Contrary to the slant given by these loud headlines, Dr Okonjo-Iweala did not indict the Jonathan administration in which she served.

“Rather, she was referring to what many Nigerians already know: the strong opposition by some governors to the Jonathan government’s efforts to save in the excess crude account and the sovereign wealth fund sabotaged this important national priority.

“The governors’ criticism of Dr Okonjo-Iweala’s many calls for the country to save for the rainy day is still fresh in the minds of Nigerians.

“It will be recalled that this opposition culminated in the governors taking the Jonathan government to the supreme court in furtherance of their position that the federal government had no right to ‘compel’ them to save.

“Several knowledgeable persons including former Anambra State Governor, Mr Peter Obi have confirmed these facts. So the issue of Okonjo-Iweala indicting the Jonathan administration over this very public issue simply does not arise.”

https://www.thecable.ng/okonjo-iweala-govs-not-gej-lacked-will-save/amp

Even when obj was the president, the govs lacked same political will, yet obj saved for the rainy days.

Besides, let's assume he was overwhelmed by the govs to save, did they also armtwist him to deep hands into the foreign reserve handed over to him even in the face of high revenue?

LionDeLeo:
Even when obj was the president, the govs lacked same political will, yet obj saved for the rainy days.

Besides, let's assume he was overwhelmed by the govs to save, did they also armtwist him to deep hands into the foreign reserve handed over to him even in the face of high revenue?

Now that the woman you zombies always quote has clarified her statement, can you now shut up and enjoy your change?

Lalasticlala, kindly move this to the front page, nairaland must always stand for the truth, nothing less, nothing else.

Why didn't Jonathan save the FG share of 14 billion dollars.
This woman should just disappear.

oduastates:
Why didn't Jonathan save the FG share of 14 billion dollars.
This woman should just disappear.

Just look at the kind of people in Nigeria...Just look at!!

oduastates:
Why didn't Jonathan save the FG share of 14 billion dollars.
This woman should just disappear.

Oh, he did save it. But the same governors lead by Rothiefi amaechi insisted that it's shared.

That's the context of Ngozi's statement.

https://www.google.com.ng/amp/sunnewsonline.com/why-govs-shared-oil-money-amaechi/amp/

Bro, u really dont know the impact this woman in question made in Nigeria during her rein. Forget what this administration has been saying about her. Just do your research and find out for yourself.

oduastates:
Why didn't Jonathan save the FG share of 14 billion dollars.
This woman should just disappear.

Thanks for that link bro, i just read through. Indeed, the former minister's quote was taken out of context.

shachris02:


Oh, he did save it. But the same governors lead by Rothiefi amaechi insisted that it's shared.

That's the context of Ngozi's statement.

https://www.google.com.ng/amp/sunnewsonline.com/why-govs-shared-oil-money-amaechi/amp/

Quoting out of context is a deliberate tool of APC media propaganda. But, time and time again they are found out.
Buhari Mr incompetent leading a team of below average goons!

Madam no need to change your statements , in reality GOODLUCK jonathan lacked political will .

It is clear GEJ bears a big chunk of responsibility for the lack of savings as he and Yar'Adua supported the tripling of public sector wages which is the main source of the increased strain on public finances and the forex reserves.

However, the governors could have saved more. Some states managed this. The CBN governor did not need to expend so much forex in a vain attempt to keep the exchange rate stable. Pressure on forex manifested as a result of the tripling of public sector wages which increased consumption of imported goods. Lastly, Nigerians lacked the will to save as one can see in the fuel subsidy protest (subsidy is a drain on resources).

shachris02:


Oh, he did save it. But the same governors lead by Rothiefi amaechi insisted that it's shared.

That's the context of Ngozi's statement.

https://www.google.com.ng/amp/sunnewsonline.com/why-govs-shared-oil-money-amaechi/amp/

Read again .
The money in the ECA was $22 billion .o
FG share was 55%
State and LGA - 45%
That money was drawn down within 6 months of Jonathan becoming president.
6 months !!!!!!!
What was it spent on ?
Even The most corrupt states can show a few things with their share

How much did GEJ save?
How much did he meet in the External reserves when he stumbled into power ($45billion) and how much did he leave in the reserves when he was booted out of office ($28 billion)?
How much was he able to save in the SWF he GEJ & NOI created?
How much did he meet in the ECA and what did he leave?
It's pathetic when I hear that the FG who collects about 52% of all FAAC was unable to save because Rivers State Government who receives less than 1% refused.
Abegi we know the drunkard who had zero will power to save..

NOI should just ignore these fact-twisters. Nigerians generally now regard everything they say as lies.

One love



Maximum respect for her



Virtuous woman

Medicine after death; APC won by betrayal and alternate facts plus Jonas gullibility and fifth columnists...they capitalized on your silence and filled in the blanks.

You spoke too late.

dey r coming.. to take their position bull-her-real pls get ready to receive them

Jonathan is totally incompetent
Thank God he was not reelected, he shall remain the hero of the flat.inos for ever and ever, Amen

Does it matter?

You and the GEJ are past tense now. Buhari lo n reign lowo yi

Pfft

ok..

Nice 1 crystal palace

This is absolutely disgusting Mrs. Flat.inos heroin.
To lead by example, you and the Otuoke drunk should have saved your portion of the loot.
Useless irrelevant person now looking for relevance