Before the Yale University ‘magic’ awarding an honorary doctorate degree to Ngozi Okonjo Iweala (NOI), and her inclusion in the world most influential women. During her first term as Minister of Finance under president Obasanjo’s Administration, she spearheaded negotiations with the Paris Club of Creditors that led to the wiping out of US$30 billion of Nigeria’s debt, including the outright cancellation of US$18 billion

-Creation of Sure-P and Related Programmes
The Subsidy Re-investment Programme (SURE-P), Graduate Internship Scheme (GIS), Youth Enterprise with Innovation in Nigeria (YOUWIN), Community Service Scheme (CSS), National Industrial Revolution Plan (NIRP) and Growing Girls and Women in Nigeria (GWIN) were some of the palliative programmes created by the federal government in response to the partial fuel subsidy removal of 2012.

Together, these collaborations between the Federal Ministry of Finance and other federal ministries, parastatals and agencies have yielded almost 2 million direct, indirect and temporary jobs across the country.

-Rebasing of the National GDP
During Dr. Ngozi Okonjo-Iweala's tenure as the finance minister, Nigeria's GDP was successfully rebased for the first time in 24 years. This commendable effort not only made Nigeria Africa's largest economy, but it also kept us on course to breeze into the exclusive and elusive club of the world's 20 largest economies by 2020.

The only (and major) downside of this achievement, however, was its failure to trickle down to the average Nigerian. By rebasing our Gross Domestic Product, the economy merely expanded on the basis of the increasing population figures of the country and not due to its increased productivity. In essence, what we got was an economic growth without an economic development.

-Partial Fuel Subsidy Removal
The decision of the Goodluck Jonathan Presidency to withdraw the subsidy paid on crude oil and natural gas products was a brilliant one, but its timing was extremely ill-advised, hence the massive protests that greeted its announcement in 2012.

Fuel subsidy is a price manipulation technique employed by the government to fix the pump price of petroleum products at certain amounts, irrespective of their actual market prices, in order to make them affordable for the average Nigerian. To compensate the retailers for their losses, the government pays them the difference between the fixed prices of the products and their actual prices as determined by market forces.

Needless to say, this subsidy regime is not sustainable and it goes against the principles of capitalism which Nigeria practices. If fully implemented, the removal of fuel subsidy in Nigeria will free up as much as $6 billion per annum, a sum that can be channelled into other sectors of the economy.

But, the downsides of a rushed total fuel subsidy removal are numerous: an immediate spike in the pump price of petroleum products, transport fares and foodstuff; an increased spate of layoffs and business closures due to a rising cost of production; rising unemployment; an attendant deterioration in the standard of living of the average Nigerian; and civil unrest.

-Introduction of the Cashless Policy
The finance ministry through the Central Bank of Nigeria shot the Nigerian banking industry into the 21st century with its introduction of the electronic banking system, popularly known as the cashless policy.

The cashless policy — which seeks to reduce the volume of paper currency in circulation — has not only helped to significantly improve the ease of banking and doing business in the country, but it has also helped to significantly reduce the ease of money laundering, the cost of printing new naira notes and armed robbery, among others.

-The Hosting of the World Economic Forum on Africa
In 2014, Nigeria became only the second country in sub-Saharan Africa (after South Africa) to host the World Economic Forum on Africa.

The WEFA is an apex regional economic summit organized by the Switzerland-based World Economic Forum which brings together Africa's best brains in journalism, business, academics and politics to deliberate on the continent's most pressing socioeconomic issues.

Official estimates by its managing director, Dr. Philipp Rosler, revealed that the 2014 WEFA attracted nearly $70 billion worth of investments to the continent and reached a global audience of about 2.1 billion people, mostly through the social media.

-Nigeria Produced the First-ever female OPEC President
Nigeria's first female petroleum minister, Diezani Alison-Madueke, made history when she was elected to serve as the first female president of the 12-member Organization of Petroleum Exporting Countries (OPEC) in 2014.

Unfortunately, she (and consequently, Nigeria) will likely lose this position on May 20 when the present cabinet will be dissolved and she's not likely to be recalled by the incoming Muhammadu Buhari administration.

And under her watch billions of dollars were looted

chily11:
Before the Yale University ‘magic’ awarding an honorary doctorate degree to Ngozi Okonjo Iweala (NOI), and her inclusion in the world most influential women. During her first term as Minister of Finance under president Obasanjo’s Administration, she spearheaded negotiations with the Paris Club of Creditors that led to the wiping out of US$30 billion of Nigeria’s debt, including the outright cancellation of US$18 billion

-Creation of Sure-P and Related Programmes
The Subsidy Re-investment Programme (SURE-P), Graduate Internship Scheme (GIS), Youth Enterprise with Innovation in Nigeria (YOUWIN), Community Service Scheme (CSS), National Industrial Revolution Plan (NIRP) and Growing Girls and Women in Nigeria (GWIN) were some of the palliative programmes created by the federal government in response to the partial fuel subsidy removal of 2012.

Together, these collaborations between the Federal Ministry of Finance and other federal ministries, parastatals and agencies have yielded almost 2 million direct, indirect and temporary jobs across the country.

-Rebasing of the National GDP
During Dr. Ngozi Okonjo-Iweala's tenure as the finance minister, Nigeria's GDP was successfully rebased for the first time in 24 years. This commendable effort not only made Nigeria Africa's largest economy, but it also kept us on course to breeze into the exclusive and elusive club of the world's 20 largest economies by 2020.

The only (and major) downside of this achievement, however, was its failure to trickle down to the average Nigerian. By rebasing our Gross Domestic Product, the economy merely expanded on the basis of the increasing population figures of the country and not due to its increased productivity. In essence, what we got was an economic growth without an economic development.

-Partial Fuel Subsidy Removal
The decision of the Goodluck Jonathan Presidency to withdraw the subsidy paid on crude oil and natural gas products was a brilliant one, but its timing was extremely ill-advised, hence the massive protests that greeted its announcement in 2012.

Fuel subsidy is a price manipulation technique employed by the government to fix the pump price of petroleum products at certain amounts, irrespective of their actual market prices, in order to make them affordable for the average Nigerian. To compensate the retailers for their losses, the government pays them the difference between the fixed prices of the products and their actual prices as determined by market forces.

Needless to say, this subsidy regime is not sustainable and it goes against the principles of capitalism which Nigeria practices. If fully implemented, the removal of fuel subsidy in Nigeria will free up as much as $6 billion per annum, a sum that can be channelled into other sectors of the economy.

But, the downsides of a rushed total fuel subsidy removal are numerous: an immediate spike in the pump price of petroleum products, transport fares and foodstuff; an increased spate of layoffs and business closures due to a rising cost of production; rising unemployment; an attendant deterioration in the standard of living of the average Nigerian; and civil unrest.

-Introduction of the Cashless Policy
The finance ministry through the Central Bank of Nigeria shot the Nigerian banking industry into the 21st century with its introduction of the electronic banking system, popularly known as the cashless policy.

The cashless policy — which seeks to reduce the volume of paper currency in circulation — has not only helped to significantly improve the ease of banking and doing business in the country, but it has also helped to significantly reduce the ease of money laundering, the cost of printing new naira notes and armed robbery, among others.

-The Hosting of the World Economic Forum on Africa
In 2014, Nigeria became only the second country in sub-Saharan Africa (after South Africa) to host the World Economic Forum on Africa.

The WEFA is an apex regional economic summit organized by the Switzerland-based World Economic Forum which brings together Africa's best brains in journalism, business, academics and politics to deliberate on the continent's most pressing socioeconomic issues.

Official estimates by its managing director, Dr. Philipp Rosler, revealed that the 2014 WEFA attracted nearly $70 billion worth of investments to the continent and reached a global audience of about 2.1 billion people, mostly through the social media.

-Nigeria Produced the First-ever female OPEC President
Nigeria's first female petroleum minister, Diezani Alison-Madueke, made history when she was elected to serve as the first female president of the 12-member Organization of Petroleum Exporting Countries (OPEC) in 2014.

Unfortunately, she (and consequently, Nigeria) will likely lose this position on May 20 when the present cabinet will be dissolved and she's not likely to be recalled by the incoming Muhammadu Buhari administration.

Under Ngozi Okonjo-Iweala >>



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Ngozi has tried and should stay retired

Let's give it to Adesina so as to win votes from South West, south east n south south win vote for PDP any day any time

Ngozi has tried and should stay retired

Let's give it to Adesina so as to win votes from South West, south east n south south will vote for PDP any day any time

Jilo83:
And under her watch billions of dollars were looted

And why are you scared to prosecute her?

She's got the looks, the charisma, the anointing, the reputation and all other qualifications to fit that office.

Most importantly it will give the women a sense of belonging, they'll be liberated from the shackles of political intimidation. It will restore the hope that someday we will have a female president.