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Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. - Politics - Nairaland

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Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Whynotthetruth(m): 1:42pm On Feb 04, 2015
BY OUR REPORTER ON FEBRUARY 4, 2015

Let’s be fair, Jonathan has done well on the economy
BY SAM OHUABUNWA

There can never be a perfect leader. Most leaders do well in certain respects and fail in other respects. Also, we may never all agree, even on one area the leader has done
well or has not done well. It all depends on the criteria for assessment. As example:
For some people, a political leader has not done well except he has given them an appointment, a contract or put money in their individual pockets. He can kill himself,
but as far as they have received no personal benefit he is no good.
For some others, a political leader can only do well if he is from their ethnic enclave or he is from their political party. Therefore, he can commit ‘hara-kiri’ and they will
commend him because of their narrow and myopic prism of assessment. Of course, such assessment can be very biased and injurious. Nevertheless, it is their own
criterion for assessment. And yet for the enlightened others, they use specific and objective criteria to assess leadership performance. There maybe some colorations
and nuances, but that’s because they are human. And that’s why I am not really surprised by the recent comments on the economy raised by Prof Chukwuma Soludo and a couple of other distinguished Nigerians. On this score, I endorse Oby Ezekwesili’s call for a debate. That, to me is the civilised way to conduct a discourse or argument with the objective of presenting the facts, the figures and insights, demolishing falsehood or establishing the truth. I do not subscribe to name
calling or demonising of professionals or fellow Nigerians just because our views do not agree.
Not all Nigerians are gullible. Many have brains that work, processing all the information they receive, agreeing, disagreeing and throwing the rest into the garbage. In my many years of Economic advocacy as a leader in the Manufacturer’s Association of Nigeria (MAN), the Nigeria Employers’ Consultative Association (NECA) and the Nigerian Economic Summit Group (NESG), I have been schooled by the professors, the practitioners and economic agents on what shows good economic management and bad economic management from the private sector perspective. It is from this standpoint that I want to justify my conviction that when it comes to the economy, Jonathan has done well, better than many.

Economic growth

In the years that Jonathan has been president, our economy has grown between six and seven per cent per annum. This is one of the highest growth rates in the world, bettered by China and a few other countries. This is the compounded growth rate that has driven us to become the largest economy in Africa and the 26th in the
world. If this is not a consequence of good economic management, please tell me what is. Even if it happened by ‘luck’, we must still give the credit to Jonathan’s
government. Because if the reverse was the case and the economy was in decline or in stagnation, as we had many years ago, we will still have blamed it on his poor
economic management. If a man can take the flack for failure, why must we deny him the right to take the credit for success?

Economic diversification

For ‘n’ years, where ‘n’ is not less than 30 years, we had complained that we had a mono economy, where oil was everything. But we were “shocked” to see that we
now have a fairly diversified economy, led by services at 52 per cent, where oil’s contribution to GDP has declined to 14 per cent from over 33 per cent in the hey days! And that even agriculture had declined from its dominant 42 percent to 22 percent because of growth in manufacturing, which has climbed from less than fur per
cent to about seven per cent and such services as telecommunications and entertainment taking up measurable positions on the GDP grid at 8.69 per cent and 1.42 per cent respectively. It is not yet déjavu as we still depended on crude oil and gas for about 70 per cent of national income until the recent crash of oil prices,
which has now moved our non-oil revenue to about 47 per cent of the 2015 budget proposals, bringing oil revenue to a healthier 53 per cent. If all this are not as a
result of sound economic policies, some of which were started by the previous governments, then tell me what is.

Macro-economic stability

For the last four years, Jonathan’s government has sustained economic policies that had created a stable macroeconomic environment. For the first time in ‘n’ years, our inflation rate dropped to single digit. This was a feat previous governments dreamt about but could never attain .Until very recently, the exchange rate remained very stable, operating within a narrow band. This made naira almost convertible and allowed Industrialists and importers plan inventory commitments with greater ease
and less apprehension. Even the interest rates had been trending down and for once in a long time, Farmers and some industrialists were able to obtain credit at single
digit interest rate or very low double digits.
This has happened, because Jonathan gave free hand to the professionals in the Central Bank of Nigeria (CBN) and those in the ministries of finance, trade and industry, national planning, etc to run with minimum interference. Additionally, he involved the private sector in the economic management team where they used real
market experience to balance academic economic theories. If this is not good economic management, please tell me what is. Some presidents in some countries have been voted out of office because they could not manage inflation!

Availability of food and other necessities of life

It is easy to take things for granted when they are going well, but when they go wrong, we come to realise that certain things are more important than others.
People can find time to make an issue of the reduction in our foreign reserves, because we have plenty of food in the market. To be sincere, Nigeria has had an
abundance of food. Thanks be to God and thanks to a revamped agricultural environment. I am personally surprised that after the recent devaluation of the
currency, and some adjustment in the Monetary Policy Rate (MPR), the prices of food items in the market remain fairly stable, keeping overall inflation much lower
than I had predicted, which indicates a higher proportion of locally produced food items. Does anybody remember 1984-1986, when we had to queue for food items
and other necessities, including soaps and detergents in Leventis Stores and other shops? The days of essential commodities (essenco) and import licensing, when
many companies including mine, downsized or closed down because they could not bribe to get enough import licence.

I am sure Nigerians have taken for granted the availability of petrol and diesel. In the last couple of years, except for occasional hiccups caused by striking workers
(NUPENG & PENGASAN), we have had almost hassle-free availability of petrol and diesel in virtually every nook and cranny of the nation selling at controlled and
deregulated prices, depending on your distance from Abuja or Lagos. What is more, the price of diesel began to come down, helping to reduce cost of production for
industrialists. I have lived in this country for long, and from the military to now, we have never had a better supply situation. Many times in the past, we have spent
valuable time running around looking for fuel and sometimes ending up with adulterated or foul fuel. I stand to be corrected. If all these have not happened
because of good economic management, then tell me what is.

Reducing unemployment

The growing unemployment in Nigeria hit the peak in 2010 following the global economic crisis, which caused a shrinking of the global economy. In 2011, unemployment rate in the general population was nearly 24 per cent with youth unemployment reaching nearly 50 per cent. But as today overall unemployment has
declined to less than 20 per cent (Actually about 15 per cent in the first half of 2014 according to National Bureau of Statistics) and youth unemployment has gone down
to less than 38 per cent. Though these changes may not look as dramatic as we would wish, they have occurred by two-pronged approach pursued by Jonathan –
supporting a revival of the agricultural, industrial, entertainment, and several other
sectors of the economy to provide opportunities for absorbing the youth from the private sector angle and the various efforts being made to create jobs in the public
sector, especially through the various safety net projects of the Subsidy Reinvestment and Empowerment Program (SURE-P). From the Community, Social Women and Youth Employment (CSWYE) Programme, over 180, 000 youth and women have been employed, over 10, 000 health workers (midwives, nurses and community health workers) have been employed, over 5, 000 youths have been trained through the Technical Vocational Educational Training in different skills and vocations and deployed to several industries, while 15, 000 have been employed by FERMA in road repairs and vegetation control, nearly 50, 000 hitherto unemployed graduates have been given jobs through the Graduate Internship Scheme (GIS) across the nation. The YOUWIN programme has enabled several young Nigerians (especially women) to receive grant from the Federal Ministry of Finance to set up new businesses through which they have employed other youths. The determined implementation of the local content law in the oil and gas and else where in the economy has created more jobs and more wealth for Nigerians. If these efforts to create jobs directly and indirectly that have led to measurable improvement in the
unemployment rate over the last four years do not amount to good economic management, then tell me what is.

Pro-business policies/ programmes

Jonathan’s government has introduced several policies and programmes that are supportive of businesses, especially local production. The pro-agric policies and
programmes are well-advertised, making it possible for a new generation of agric entrepreneurs (nagropreneurs ) to obtain loans at nine per cent in addition to unprecedented support to agriculture with a focus on developing the agriculture value chain. I already referred to the higher level of local food production, which has
helped to moderate inflation.

There is a new industrial revolution policy, which is
focusing on supporting local industrial output. We have seen unprecedented expansion in the cement Industry, which is taking the country to the level of self-
sufficiency in cement production with possibility of exporting the excess in the near future. Have we soon forgotten the cement armada spectacle where our ports were clogged with cement import from all over the world?

Like it or not, the local auto industry is coming back to life with the new National Auto Policy, which seeks to discourage unbridled importation of all kinds of
automobiles from all over the world. Many of the world ‘auto companies have started to invest in local production plants.

This industrial revival and upgrade is happening in many industries, including mine –the pharmaceutical – where the Federal Government has supported a number of local
manufacturers to obtain the WHO GMP certification in the last one year, which hitherto had been practically impossible.

The Privatisation and the deregulation policy, which Jonathan has been ‘forcefully’ implementing, has virtually transferred electric power management to the private
sector. Though the level of expected improvement has not been attained, we have brought the 15-year story of unbundling NEPA to a closure, with reasonable
expectation that new investment will flow to truly sort out our electric power needs, especially if government finally sells the transmission infrastructure. I believe the
deregulation of the downstream petroleum sector will be completed soon and the multiplier effect on the economy will be unleashed. I could go on and on.

Some people who are reading this and who may have joined the bandwagon of those who say nothing is happening in the economy or that Jonathan is clueless,
may be angry at me and may think that I am campaigning. But these are facts,which are verifiable. Yes, these may not be the best possible but we must
acknowledge what is the correct situation. Jonathan may have questions to answer concerning security or other issues, but on the economy, my verdict is that he has
done well, though could do better. My Bible says: “Woe unto them that call evil good and good evil, …that put bitter for sweet and sweet for bitter .”.May God have mercy.

For me, the fight against corruption will get strong fillip when we remove the power of discretion and patronage from these sectors through privatisation and deregulation . Since we deregulated telecommunications, corruption in that sector has died and been buried. That is more effective than sending 10 Managing Directors of
NITEL to Kirikiri. Not that I am opposed to punishing the guilty, I am saying that corruption in power is in ‘coma’ now and that in oil and gas will soon be gasping for
breath when we fully deregulate the sector. When we bury the ‘big’ corruption in these sectors by these policies that take the power of discretion from public
servants, we can easily deal with ‘smaller’ corruption in government bureaucracy and the private sector.

The level of policy inconsistency and flip-flops we used to see in the economy in the past has significantly declined, creating more confidence and attracting more investments into the country with Nigeria receiving the highest Foreign Direct Investment ( FDI) in Africa in the last two years or so despite slowing down in oil and Gas and the Security scare not withstanding .

I could go on and on. I have said nothing about the massive investment in rehabilitating major highways and rail lines in our country. Last December, I travelled to Kwale from Lagos in five and half hours and travelled by rail from Port Harcourt to Imo River. The last time I did that was in 1992. The trains are running again and the long delayed major road projects like the East -West Road, the Abuja-Lokoja, Benin-Shagamu, Onitsha-Enugu-PH, Kano-Maiduguri and the Lagos-Ibadan Expressway are all nearing completion with significant portions now open to traffic.

Have I said anything about the miracle of remodeling 18 Nigerian airports in one season, with most of them fully completed. The impact of good roads and other
modes of transportation to any economy are too obvious for any further elaboration.
Some people who are reading this and who may have joined the bandwagon of those who say nothing is happening in the economy or that Jonathan is clueless,
may be angry at me and may think that I am campaigning. But these are facts,which are verifiable. Yes, these may not be the best possible but we must
acknowledge what is the correct situation. Jonathan may have questions to answer concerning security or other issues, but on the economy, my verdict is that he has
done well, though could do better. My Bible says: “Woe unto them that call evil good and good evil, …that put bitter for sweet and sweet for bitter .”.May God have mercy.
• Mazi Ohuabunwa is former chairman of Nigeria Economic Summit Group.....

http://sunnewsonline.com/new/?p=103150

86 Likes 21 Shares

Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Whynotthetruth(m): 1:43pm On Feb 04, 2015

1 Like

Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by eleko1: 1:44pm On Feb 04, 2015
undecided YES!Done well stealing our money,done well by being a CLUELESS man sad

64 Likes 1 Share

Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by adorablepepple(f): 1:46pm On Feb 04, 2015
undecided,like seriously?? pulease.......

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by SeverusSnape(m): 1:53pm On Feb 04, 2015
Perfectly well!!!

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Whynotthetruth(m): 1:54pm On Feb 04, 2015
It becomes too unfortunate, when we lose our sense of sacredness. In our political pursuit or whatever interest we may want to pursue. There are some areas of our national life that demands some decorum and serious respect; which shouldn't be subjected to untrue or propagandist tendencies. In this aspect our economy stands out.

Why and how can respected intellectuals due to selfish interest subject our economy to ridicule by some posting untruths or half-truths or biased views about it? What an aberration!!!

Prof Charles Soludo displayed this myopic mindset in his article where he on one hand chided the GEJ led government for its inept management of our economy because they didn't save up or grow our savings. In same article, he was seen again ridiculing Former governor Peter Obi of Anambra State, savings when in his opinion such savings should have been channelled into "signature projects". What a hypocrite!!!

A lot of us look up to these great minds; let them respect that and minimize self-centred views as against truisms.

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Whynotthetruth(m): 2:01pm On Feb 04, 2015
mods...Obinoscopy, Ngwakwe, Lalasticlala, et al
kindly move this to FP for detailed discussion and all inclusive debate...

1 Like

Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by hazyfm1: 2:03pm On Feb 04, 2015
[size=28pt]WELL DONE MR CLUELESS GCFR[/size]

If i read one sentence from this thread let it not rain in Lagos this month

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Nobody: 2:25pm On Feb 04, 2015
eleko1:
undecided YES!Done well stealing our money,done well by being a CLUELESS man sad
adorablepepple:
undecided,like seriously?? pulease.......
hazyfm1:
[size=28pt]WELL DONE MR CLUELESS GCFR[/size]
If i read one sentence from this thread let it not rain in Lagos this month

Look at them, eggheads. Tomorrow they will demand issue based campaign.

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by WisdomFlakes: 2:34pm On Feb 04, 2015
Let's be fair; Soludo has practically destroyed whatever is left of this administration's credibility with respect to its management of the economy in the last four years. GEJ's economic team needs to act fast lest he goes down in history as Nigeria's worst administrator.

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Whynotthetruth(m): 4:16pm On Feb 04, 2015
WisdomFlakes:
Let's be fair; Soludo has practically destroyed whatever is left of this administration's credibility with respect to its management of the economy in the last four years. GEJ's economic team needs to act fast lest he goes down in history as Nigeria's worst administrator.


Bro, it will be so if we don't reason or question such submissions as that of Soludo; who by that article claimed monopoly of wisdom. But I see it more as an article aimed at getting back at all those who scuttled or rather who defeated his political ambition even before it could begin...otherwise why the double standard from him...Even the follow ups were more of "sing my praise" write ups and rubbish others. How can he see nothing good in Nigeria within all the years he has been outside government? except maybe only the European trade bargain stuff because he was invited as one of the advisers to GEj in that project. Any other policy without him or his input is viewed as a failure by him...even when auto-plants are springing up in his backyard?

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by WisdomFlakes: 4:20pm On Feb 04, 2015
Whynotthetruth:



Bro, it will be so if we don't reason or question such submissions as that of Soludo; who by that article claimed monopoly of wisdom. But I see it more as an article aimed at getting back at all those who scuttled or rather who defeated his political ambition even before it could begin...

Bro, I'd like to hear NOI's defense from the horse's own mouth. The onus is on her to give hers and this administration's side, lest they live to regret it.

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by theV0ice: 4:27pm On Feb 04, 2015
Hmmmm......

Mazi Ohuabunwa is my man any day. A most illustrious and distinguished LM of the best frat in Nigerian universities so I know he's not writing because he was settled. It'll be nice however if the FG could oblige Oby Ezekwesili a debate like Ohuabunwa himself requested so that we Nigerians will get all the lies and half truths exposed.

Gej and GMB can't speak on the economy like these technocrats so NOI should oblige her colleagues (Soludo and Ezekwesili) the audience.

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by nicklaus40: 4:31pm On Feb 04, 2015
Economic growth is different from economic development, growth in increase in d gdp i.e on paper, d amount a country is making is divided by the population and dat is economic growth,but if their is high rate of corruption as in d case of naija,d resources gained is not evenly distributed but concentrated in the hands of few individuals.well we can say there is economic growth under Jonathan's administration but economic development is wen the growth recorded is reflected in the lives of the citizens, i.e there is increase in the standard of living which under Jonathan has not bin the case. If wat is on paper can't be reflected on the lives of the citizens due to corruption then that is failure. Yall can argue dat both apc and pdp are corrupt buh y did jona give them so much room to explore their wings, Jonathan should be held accountable for this because there is a saying that 'what is the essence of a govt if there is no accountability' this is y I want change,am not assuring u this won't happen under GMB,if it does den we vote him out in 2019. We need CHANGE

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Nobody: 4:54pm On Feb 04, 2015
Whynotthetruth:



Bro, it will be so if we don't reason or question such submissions as that of Soludo; who by that article claimed monopoly of wisdom. But I see it more as an article aimed at getting back at all those who scuttled or rather who defeated his political ambition even before it could begin...otherwise why the double standard from him...Even the follow ups were more of "sing my praise" write ups and rubbish others. How can he see nothing good in Nigeria within all the years he has been outside government? except maybe only the European trade bargain stuff because he was invited as one of the advisers to GEj in that project. Any other policy without him or his input is viewed as a failure by him...even when auto-plants are springing up in his backyard?

Soludo is like a stubborn misguided child. Nobody destroyed his political ambition, he destroyed whatever little chance he had himself.

It is funny how he is so trying to sound like technocrat when he is no longer one.

There are thousands of internationally recognized indices to support and show that the economy is doing well.

The base of the whole epistle he wrote is that, this administration did not save, placing all the blame on the executive and the FG, such a myopic view from a pained man.

Even Russia with all its mighty reserves is suffering badly from drop in oil prices

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Whynotthetruth(m): 5:01pm On Feb 04, 2015
WisdomFlakes:


Bro, I'd like to hear NOI's defense from the horse's own mouth. The onus is on her to give hers and this administration's side, lest they live to regret it.


I will support that too well but given that Soludo has attacked her person more alongside the economy; I fear if she will honour him with such attention... Soludo just lost the little credibility he enjoys from folks like me by sounding so hypocritical, biased, selfish and unintelligent. Accepting international community verdicts/records were they favour him and disputing same when it favours NOI.

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by mumumugu(m): 5:04pm On Feb 04, 2015
truth be told..he has done very well
but his effort is not good enough.
Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Whynotthetruth(m): 5:13pm On Feb 04, 2015
Promhize:


Soludo is like a stubborn misguided child. Nobody destroyed his political ambition, he destroyed whatever little chance he had himself.

It is funny how he is so trying to sound like technocrat when he is no longer one.

There are thousands of internationally recognized indices to support and show that the economy is doing well.

The base of the whole epistle he wrote is that, this administration the did not save, placing on the blame on the executive and the FG, such a myopic view from pained man.

Even Russia with all its mighty reserves is suffering badly from drop in oil prices


Aside putting the all blames at the door step of the presidency which doesn't border me much; as his double standard. Where in he blames GEJ for not saving and insults Peter Obi for saving...What hypocrisy from a supposed technocrat? What does he stand for? is it for or against the savings

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by adorablepepple(f): 5:40pm On Feb 04, 2015
Promhize:


Look at them, eggheads. Tomorrow they will demand issue based campaign.
What r u? you that quoted 3diff people.... let me say your head is filled with stale butter, melting at all times n leaving your head empty!

1 Like

Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by kasiem(m): 7:00pm On Feb 04, 2015
see masterpiece

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Whynotthetruth(m): 9:37am On Feb 05, 2015
nicklaus40:
Economic growth is different from economic development, growth in increase in d gdp i.e on paper, d amount a country is making is divided by the population and dat is economic growth,but if their is high rate of corruption as in d case of naija,d resources gained is not evenly distributed but concentrated in the hands of few individuals.well we can say there is economic growth under Jonathan's administration but economic development is wen the growth recorded is reflected in the lives of the citizens, i.e there is increase in the standard of living which under Jonathan has not bin the case. If wat is on paper can't be reflected on the lives of the citizens due to corruption then that is failure. Yall can argue dat both apc and pdp are corrupt buh y did jona give them so much room to explore their wings, Jonathan should be held accountable for this because there is a saying that 'what is the essence of a govt if there is no accountability' this is y I want change,am not assuring u this won't happen under GMB,if it does den we vote him out in 2019. We need CHANGE


Bro, you aren't entirely right...to make it brief; economic growth is quantitative while economic development is qualitative... Wealth of nations being in too few hands may not necessarily be due to corruption. Also, why do we accept figures when it suits us and dispute same when it doesn't tally with what we "think". Transparency international said corruption isn't increasing rather we're better now. So do you believe them or politicians? who should be more correct with their data?

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Whynotthetruth(m): 9:41am On Feb 05, 2015
adorablepepple:

What r u? you that quoted 3diff people.... let me say your head is filled with stale butter, melting at all times n leaving your head empty!


Kindly concentrate on the subject matter here...thanks

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by dotuna3(m): 9:44am On Feb 05, 2015
for him mind abi?
Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Whynotthetruth(m): 9:49am On Feb 05, 2015
theV0ice:
Hmmmm......

Mazi Ohuabunwa is my man any day. A most illustrious and distinguished LM of the best frat in Nigerian universities so I know he's not writing because he was settled. It'll be nice however if the FG could oblige Oby Ezekwesili a debate like Ohuabunwa himself requested so that we Nigerians will get all the lies and half truths exposed.

Gej and GMB can't speak on the economy like these technocrats so NOI should oblige her colleagues (Soludo and Ezekwesili) the audience.


For me; given the ulterior motive of soludo; I don't see NOI granting them such audience... She may after elections not necessarily before which is the target of Soludo so as to rubbish Jonathan with his monopoly of wisdom stance...
If he is sincerely writing out of patriotism; why didn't he write or scream when he noticed that things were going wrong according to him? Why wait till it is entirely bad before writing epistles He's only out for vengeance and curry favour from buhari group if they succeed...he's simply job-hunting by "shamelessly" ruining others personality and career...where's decency among technocrats and professionals

12 Likes 1 Share

Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Whynotthetruth(m): 10:06am On Feb 05, 2015
NUHU RIBADU(FORMER EFCC CHAIRMAN), REACTS TO SOLUDO'S CLAIM THUS;

ABUJA—Former Chairman of the Economic and Financial Crime Commission, EFCC,
Mallam Nuhu Ribadu, has pooh-poohed allegations by the former Central Bank governor,
Prof. Chukwuma Soludo that N30 trillion was stolen under the watch of the coordinating
Minister of the economy Dr. Ngozi Okonjo-Iweala.
Ribadu spoke yesterday, in an interview in Abuja, pointing out that he was not only
baffled but amused over the allegation, as he knew that Okonjo-Iweala was ‘’honest,
reliable and of impeccable character.’’
His words: “I was baffled and got deluded for anyone to say that N30 trillion got lost, I
think we just have to look at what we earn as a country and what our budget had been
in these few years.
“And see how possible is it and if everything we earned is not up to that within the
period she has ben the minister which is about three to four years.
“And for somebody to say that N30 trillion is missing is baffling, especially if you know
what our budget has been these years.
“We need to be careful to avoid more damage to our nation because there are certain
things that when it comes out, it will never go back again.
“I challenge anybody to say that she stole N1 at that time, we were all there, I was in
charge of EFCC and I want to hear anybody say that she did this and that.
“And I followed her up till now, I think it is somehow uncharitable for someone to come
out to say that such an amount of money was missing under her watch.”
He said that while working under President Olusegun Obasanjo; Okonjo-Iweala was the
economic team leader and she coordinated the economic policy of the then
administration effectively.
He warned Nigerians to be careful with their utterances and shun the habit of pulling
down their people who have climbed to such a high level of international repute in the
name of politics.
Ribadu who is also, the governorship candidate of the PDP in Adamawa State said that
it was described as unfortunate, the avoidable controversies but noted that Okonjo-
Iweala was one of the most respected public officers with high integrity.
According to him, the minister exhibited a nationalistic attitude when they worked
together in the economic team under Obasanjo, and believed in any policy that could take
Nigeria and its people to higher levels.
“Am a little bit disturbed with what I have been hearing in the last couple of days where,
many things are being said and some are totally out of place with some of the result we
have achieved in the economy.

www.vanguardngr.com

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Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by theV0ice: 10:14am On Feb 05, 2015
Whynotthetruth:



For me; given the ulterior motive of soludo; I don't see NOI granting them such audience... She may after elections not necessarily before which is the target of Soludo so as to rubbish Jonathan with his monopoly of wisdom stance...
If he is sincerely writing out of patriotism; why didn't he write or scream when he noticed that things were going wrong according to him? Why wait till it is entirely bad before writing epistles He's only out for vengeance and curry favour from buhari group if they succeed...he's simply job-hunting by "shamelessly" ruining others personality and career...where's decency among technocrats and professionals

I guess the honest beautiful ones are not yet born after all. Soludo's era was praised to the high heavens by this same govt and its sympathisers when it was Sanusi's turn to sit in the bashing chair. All of a sudden, Sanusi has become another Alan Greenspan because Soludo got on their wrong side.

NOI took the personal route in her response to the first letter. She should have realised Soludo can also get dirty if push comes to shove. She should have remained a Lady if she didn't want the heat.

They're all the same. I'm not overtly concerned with their shenanigans. My point of interest is how it affects the common man on the street. As long as we get to hear secrets being unearthed, they should by all means keep fighting.

3 Likes

Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by maestroferddi: 10:17am On Feb 05, 2015
No matter their degree of desperation, Nigeria will never fall into the hands of desperados.

The reward of hardwork is more work. Jonathan is repositioning Nigeria for greatness.

Pay no attention to blackmailers and fifth columnists...

14 Likes

Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Whynotthetruth(m): 10:35am On Feb 05, 2015
theV0ice:


I guess the honest beautiful ones are not yet born after all. Soludo's era was praised to the high heavens by this same govt and its sympathisers when it was Sanusi's turn to sit in the bashing chair. All of a sudden, Sanusi has become another Alan Greenspan because Soludo got on their wrong side.

NOI took the personal route in her response to the first letter. She should have realised Soludo can also get dirty if push comes to shove. She should have remained a Lady if she didn't want the heat.

They're all the same. I'm not overtly concerned with their shenanigans. My point of interest is how it affects the common man on the street. As long as we get to hear secrets being unearthed, they should by all means keep fighting.


Secrets or misinformation Playing dirty politics with the economy

1 Like

Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by theV0ice: 10:46am On Feb 05, 2015
Whynotthetruth:



Secrets or misinformation Playing dirty politics with the economy

Not only dirty politics my friend. They've been playing Russian roulette with it for many years. The difference this time is that America the public now knows unlike what obtained before
Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by Whynotthetruth(m): 7:48pm On Feb 05, 2015
theV0ice:


Not only dirty politics my friend. They've been playing Russian roulette with it for many years. The difference this time is that America the public now knows unlike what obtained before


May God save us all...

1 Like

Re: Let's Be Fair; Jonathan Has Done Well On The Economy. By Sam Ohuabunwa. by theV0ice: 7:55pm On Feb 05, 2015
Whynotthetruth:



May God save us all...

Amen

1 Like

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