Nigeria’s minister of information and culture, Lai Mohammed has said
the judicious management of the Treasury Single Account, TSA, and
the unrelenting war on corruption is why the country has not
collapsed.
The Treasury Single Account is a graft-checking financial management
policy instituted by former President Goodluck Jonathan.
Implementation began in phases under the leadership of former finance
minister and world renowned economist, Dr. Ngozi Okonjo-Iweala.
Mohammed made this statement on Thursday, August 4, 2016 at the
All Nigerian Editors Conference (ANEC) 2016 in Port Harcourt, where he
listed the economic challenges and the efforts to steer the country to
safety.
He said the President Muhammadu Buhari administration is applying
prudent management in the use of scares resources made possible by
the anti-corruption fight, TSA and elimination of ghost workers.
The minister predicted that the increasing emphasis on agriculture
would soon reduce the nation’s ‘scandalously’ high dependence on
food importation, adding that the country is facing the consequences
occasioned by the fall in the price of crude oil and the failure to save
for the rainy day as well as not investing in infrastructure.
‘’Nigeria has nothing to rely on to cushion the effects of the lost
earnings,” Lai Mohammed said.
“Many other oil producing countries and fellow OPEC members are
better because they saved for the rainy day. Saudi Arabia with about
one fifth of Nigeria’s population, has about 600 billion dollars (which
is 23 times what Nigeria has in foreign reserves) in foreign reserves.
United Arab Emirates, with less than 10 million population has 75
billion dollars in foreign reserves. Qatar, with 2.4 million people has 36
billion dollars in foreign reserves. Even Angola, with just 24 million
people, has about 25 billion dollars in foreign reserves.
‘’Here in Nigeria, with oil sold consistently for over 100 dollars a barrel
for many years, we simply failed to save for the rainy day with a
population of over 170 million, which has just 26 billion dollars in
foreign reserves.
“To compound this, the fall in the price of crude oil is having a ripple
effect-the scarcity of foreign exchange resulting from the oil price
crash, meaning that industries are struggling to get foreign exchange
to import raw materials and machinery. With falling imports, the
Customs Service, which is another source of revenue, is collecting
fewer duties.
“Taxation is also affected, as industries with no forex to import can
neither employ more people nor produce more goods. Then, Nigeria
has to fight an existential battle to root out Boko Haram in the North-
east region,’’ he said.
The minister lauded the Nigerian Guild of Editors (NGE) for supporting
the deliberate efforts to tackle the multifarious challenges facing the
country, particularly in the area of the economy, saying NGE in
particular and the media in general owe it a duty to keep Nigerians
well informed of situation by becoming the ‘Champions of Change’.


www.thetrentonline.com/implementing-goodluck-jonathans-tsa-saved-nigeria-collapse-lai-mohammed/?utm_source=&utm_medium=facebook

...honourable minister ...I hail you oo
but I don't think Nigeria has been saved from collapsing,
economy - F9
lying - A1

Stop dreaming Ugandan. TSA is a constitutional requirement and not a Jonathan initiative. Ijaw slaves will stop at nothing aswear.

ogmask:
Stop dreaming Ugandan. TSA is a constitutional requirement and not a Jonathan initiative. Ijaw slaves will stop at nothing aswear.

Bros.... You just the talk like say Na your pocket the TSA d enter ...... Lol abeg ooo

U spoke well this time around

Hmmmm

Even mad man on a street has one good thing for exhibition. PMB extract some logistic policies of GEJ which he failed to implement. I admired your leadership style PMB.

Even mad man on a street has one good thing for exhibition. PMB extract some logistic policies of GEJ which he failed to implement. I admired your leadership style PMB.

Gudluck the great

Wailers always trying to credit their disgraced hero with every good deeds of the PMB government. The OBJ administration came up with the idea of TSA and they even did a test run before he handed over. You guys should get your facts right before crediting the clueless one with what he knows nothing about.

Thank God you admitted this, at least you don't blame him for this

Lies, the Lie Muhamed l know does see anything good about Jonathan and his administration.

Interviewer: The weather is hot
Lai Mohammed: it's due to PDP's 16yrs Misrule,they stole everything including ozone layer.....

Lies Mohammed & Lies just like Ugwu & Egusi

First truth from liar muhammed...

APC government of blame game has gotten tired of blaming Jonathan...

A big dissappointment to the internet warriors crying, " arrest jonathan "..

TRUTH cannot be trampled forever..

If you oppose an innocent man, thats your downfall. I always tell stupid people in real life..

Naughtysite:
First truth from liar muhammed...

APC government of blame game has gotten tired of blaming Jonathan...

A big dissappointment to the internet warriors crying, " arrest jonathan "..

TRUTH cannot be trampled forever..

If you oppose an innocent man, thats your downfall. I always tell stupid people in real life..

you were trying to make sense.. But sense no dey...

Jonathan suggested TSA since 2011 and couldn't implemente for 4yrs... Abi Jonathan is dt daft ni...