HungerBAD:
Shamecurls.

You are my man, but this News is from April.

justice2016:
Lies again this yoruba media never stop lies

CONFAMA:
BIAF-RATS will soon call madam iweala Yoloba

How we were pressured to squander $18bn excess crude saving — Jonathan
June 7, 2016Bassey Udo
FILE PHOTO: Former President Goodluck Jonathan speaking at the Bloomberg Studio in London
FILE PHOTO: Former President Goodluck Jonathan speaking at the Bloomberg Studio in London
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Former President Goodluck Jonathan has spoken out about how the excess crude oil revenue account, which stood at over $20 billion at the inception of his administration, was depleted to about $2 billion when he left office on May 29, 2015.
Answering questions on an interview programme with Bloomberg TV, Mr. Jonathan blamed the state governors for regularly pressurizing the federal government to draw from the reserve fund to augment revenue allocations from the federation account.
“At any time the earnings (from oil) drop, the governors would insist that there is no place in our laws that actually say that the federal government should keep the reserve,” Mr. Jonathan said. “They always insisted that a part of it (excess crude revenue account) should be brought.”
He said there had always been misconception about the excess crude account, pointing out that while a number of people felt it was a reserve fund for the rainy day, others said it was fund that could be drawn from in times of economic difficulty.
“Yes, it is also part of our own reserves. But, when I was there, I tried to make a special fund called a sovereign wealth fund, so that it would not be easy for one to take from there,” the former president said.
Asked to react to claims by the current administration that it inherited empty treasury at inception of its tenure, Mr. Jonathan said that could not be true, arguing that there was no way the administration would have inherited empty treasury and still be able to give bailout to states the way it did.
On the diversification of the economy away from oil, the former president said his administration did “very well”, particularly in encouraging manufacturing and industrialization as well as agricultural development, which he said got to its peak within the five years he was in power.
He spoke of the agriculture transformation agenda of his administration, which he described as not only the best since the history of the country, but also one that received global acclaim.

Nigeria’s respected finance minister, Ngozi Okonjo-Iweala, speaks positively about Mr Adesina’s reforms to date – especially in cleaning up the corrupt fertiliser industry. Now, rather than directly participating in the delivery system for fertiliser, the government leaves that to the private sector and only provides the subsidy. This change has tackled 40 years of corruption, and ended it – Mr Adesina claims – in 90 days.

Ms Okonjo-Iweala says it has been easier to work with Mr Adesina than previous ministers. “It is not only about doling out subsidies which do not reach farmers,” she says. “That was frustrating for me the first time [I was finance minister]. Now he came and cleaned up the fertiliser issues.”

Nigeria is now seeking to add 20m metric tonnes to the domestic food supply by 2015 and to create 3.5 million jobs through agriculture. This requires more sophisticated thinking about the value addition of individual crops – cassava being but one example. “We are the largest producer of cassava in the world, at 40m metric tonnes, but I want us to become the largest processor of cassava as well,” Mr Adesina claims. “We can focus on using cassava for starch, dry cassava chips for export to China, cassava flour to replace some of the wheat flour that we are importing. So we are restructuring the space for the private sector to add value to every single thing.”

Financial linkages

Finance is the critical catalyst to growth, and in Nigeria it has proven hard to link the two. “You find that only 2 percent of all bank lending in Nigeria goes into agriculture – a sector that is 40 percent of GDP and 70 percent of employment. The reason was because banks could not find the money trail in the agriculture sector,” Mr Adesina says.

Akinyemi787:
will this stop wailers from wailing No it's in their blood just like yeebos are addicted to ****...I no talk anything oooo

OLADD:


You and the OP are just incurably stup1d. Okonjo Iwealla did not and will never indict a govt she served meritoriously. Why can't you bring out a rebuttal from NOI where she explained the rationale for her statement? For the sake of blockheads like you, she blamed lack of political will on the part of the former governors (Ameachi, Fashola and co) who used every cruel means to stop the ECA. Get your facts right and stop displaying mischief and insanity. Bringing up a dead news to safe the face of Buhari's failed govt will not help his course. OK?