₦airaland Forum

TheCable – Ngozi Okonjo-Iweala, former minister of finance, on Thursday said the zero political will to save under former President Goodluck Jonathan is responsible for the challenges the country is facing.
Speaking on “inequality, growth and resilience,” at George Washington University, the two-time finance minister said the World Bank and the International Monetary Fund (IMF) must seek means to embed savings in national constitutions devoid of political manipulations.
Okonjo-Iweala added that Nigeria was able to save $22 billion under former President Olusegun Obasanjo, which saved the country in 2008, when there was global economic meltdown.
Speaking on the Chilean saving example, Okonjo-Iweala said: “We tried it in Nigeria, we put in an oil price based fiscal rule in 2004 and it worked very well.
“We saved $22 billion because the political will to do it was there. And when the 2008 /2009 crisis came, we were able to draw on those savings precisely to issue about a 5 percent of GDP fiscal stimulus to the economy and we never had to come to the bank or the fund.
“This time around and this is the key now, you need not only need to have the instrument but you also need the political will. In my second time as a finance minister, from 2011 to 2015, we had the instrument, we had the means, we had done it before, but zero political will.

“So we were not able to save when we should have. That is why you find that Nigeria is now in the situation it is in. Along with so many other countries.”
On solving the problem of political will and political manipulations, she said: “That is the question that I ask, what do we need to do to these countries to save over a period of long accelerated growth.
“We need to devise mechanisms not just that are good technically but find a way to either embed them in the constitution or find a way to separate them from the political manipulation so that these countries can survive over time.
“To build resilience, African countries need tools, mechanisms and it is doable and we need to interrogate ourselves why we have not done it.”
She added that manufacturing was also critical to growth in Nigeria and the rest of Africa, quoting manufacturing as just 11 percent of GDP in Africa, and nine percent in Nigeria.
“I do not believe that we can be resilient, except if we can encourage manufacturing even on the goods we consume, services, entertainment industry, agriculture.
“I think these are the kinds of questions that policy makers struggle with on a daily basis and that is what we are going to answer to get resilience.
“If we don’t get these mechanisms, we politicise them, find ways to transform the base of the economy and create jobs including in manufacturing, I believe we are going to go into this looming deceleration that is being talked about.”

I didn't read this...so no sensible comment now.

Lols

Source??

I stopped taking you serious from today henceforth


You can't even spell correctly

Yoruba muslims keep twisting the same old article over and over again to suit their Fulani asslicking bias.
I didn’t indict Jonathan over ‘savings’ statement – Okonjo-Iweala
http://punchng.com/i-didnt-indict-jonathan-over-savings-statement-okonjo-iweala/

Source?

Whether Okonjo Iweala confess it or not, any sensible Nigerian should know that beforehand.

This one will die with buhari ... latching unto any news that takes away responsibility from the frail old skinny guy.


Btw .. Aisha has been too silent for comfort lately, where is our darling first sweetheart?

[s]

Ikwokrikwo:
Yoruba muslims keep twisting the same old article over and over again to suit their Fulani asslicking bias.

[/s]

Tribalism will not add a kobo to your pocket. ... it only exposes you as suffering from inferiority complex.

Pity this forum has been reduced to a place where hate thrives

Brigham:
Source?

Whether Okonjo Iweala confess it or not, any sensible Nigerian should know that beforehand.

Sensible Nigerians as in zombies right

[s]

NaijaMutant:
I stopped taking you serious from today henceforth


You can't even spell correctly

[/s]

pain pain e pain am

Ikwokrikwo:
Yoruba muslims keep twisting the same old article over and over again to suit their Fulani asslicking bias.

mynd44, please give this comment and the auther the attention they deserve, thanks.

But I don't remember her ever raising alarm about the economic woes when Jonathan was in power

Stalwert:
[s][/s]

Tribalism will not add a kobo to your pocket. ... it only exposes you as suffering from inferiority complex.

Pity this forum has been reduced to a place where hate thrives

Just shut up

You are a chief tribalist

Wailing Zombies Wailers . . .

[s]

NaijaMutant:
Just shut up

You are a chief tribalist

[/s]


Obviously you have serious emotional distress due to the thread let me heal you

Lemme park my car here

thesicilian:
But I don't remember her ever raising alarm about the economic woes when Jonathan was in power

She warned us of hard times ahead but didn't talk about the cause of the hard times. She warned us before the election, meaning she knew Jona was the cause.

Ikwokrikwo:
Yoruba muslims keep twisting the same old article over and over again to suit their Fulani asslicking bias.
I didn’t indict Jonathan over ‘savings’ statement – Okonjo-Iweala
http://punchng.com/i-didnt-indict-jonathan-over-savings-statement-okonjo-iweala/

Yoruba muslim? God help this man. . .

The 'yoots' ain't gonna like this!

UNA NO DEY TIRE?

Jonathan is the worst President Nigeria ever had,simple!

Sibrah:
She warned us of hard times ahead but didn't talk about the cause of the hard times. She warned us before the election, meaning she knew Jona was the cause.

That is what they all say they only hear what they want their ears to hear . She said it countless times, well the tv showed us countless times yet some people are text about a fake president hero.

Sibrah:
She warned us of hard times ahead but didn't talk about the cause of the hard times. She warned us before the election, meaning she knew Jona was the cause.

Hmmm. Its unfortunate we had to find ourselves in this mess. I always knew choosing between Jonathan and Buhari was like choosing between a great white shark and a crocodile.

1. Okonjo is a core professional who is disciplined.
2. Okonjo is a black nigerian, a woman of like passion.
3. She will always say the truth in any fora that cares for the truth.
4. She will always deny the truth anywhere his own is picking a stone because her truth is against their deity.
5. Okonjo had trained and work with the whites over years that had rubbed on her character.
6. but will also not play the superman as if she does not carry our blood.
7. Okonjo had raised alarms between 2013 and 2014 of a grave consequence of our financial recklesness as a nation.
8. politicians always prevailed on her to placate nigerians with grammars to make us believe it is not that bad yet.
9. okonjo is faced with a conflict between staying strictly professional with facts embed in truth, or speak lies his political friends demand which his people also desired more than gold.

10. Okonjo is a wise and brilliant woman who must have adviced her boss then.
11. I am sure politicians would jettison such economic advice just for self interest.
12. I know Okonjo will play so safe to avoid her career being tarnished. I am sure no probe can get her soiled as she is more learned, wiser and smatter than her boss.
13. You may querry why she did not resign, but i will remind you she carried our blood.
14. We or those who do not want blasphemy against thier deity, will be unfair to okonjo if we abhor any of her professional truthsaying at home(nigeria) and still want her to be forever muted on the altar that allows truth(US).
Okonjo, you can deny every truth your people abhors just because it is against their deity of choice.
But never hoard such truth when it is professionally right with an atmosphere that stone not its own for truthsaying.

GOD BLESS NIGERIA.

Nonsense Buhari is worst than imagine