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.”


http://spynigeria.com/2016/08/13/jonathan-not-buhari-responsible-nigerias-current-economic-woes-dr-okonjo-iweala/

Junk news from the stables of spyApc

Lol... Who get this woman number? I wan send her 100 Naira recharge card (yea 100 Naira; life is in phases, men are in sizes) for being honest

The woman too is mad at Jona.

Aaaaah!!!! iPod Yoots ain't gonna like this!

Political will to save? What was ur effort as minister of Finance to save money? Why are you just saying it now? Pls we are in it already and those that promised us change have been doing the blame but remeber that Buhari was warned about some pple recently, hope they wont warn u also soonest

GEJ shey you see your life now?

clueless, ineffectual and wicked at the same time.. your entire generations will suffer for it
Infact you are cursed already

Joseph who was not an Egyptian saved for famine in Egypt, yet a mistake not a Ghanian or Chadian could not save for his own country... Even after Okonjo and d likes warned you, you kept stealing

The man on the throne will smite you and all your hateful bigot worshippers blaming PMB now for our woes

Stale news. Why are these bloggers recycling news.

Stale news.........Stale news...........Stale news...........Stale news........stale news.

Good point from Ngozi. And this is why the the National Assembly must amend the constitution now to legalise the so called excess crude account.

Ngozi okonjo is an afonja.....ipad yoots!!!!

Afonja web page

All these Buhari apostles always try to use GEJ to exonorate their idol of his failures.

They still go as far as using the same Ngozi okonjo-iweala they so much love to hate to carry on with their propaganda.

lol.

Everyone Knows This Except The Gullibe Ones Who Think Recession Came About In Just A Year.

Ebele oooooooooooh!!!!!




Na everybody you offend? Even people wey you settle? Haba....

It's not news

I didn’t indict Jonathan over ‘savings’ statement – Okonjo-Iweala

The immediate past Minister of Finance, Dr Ngozi Okonjo-Iweala on Friday denied indicting the administration of former President Goodluck Jonathan on its inability to save for the rainy day.

The former minister said in a statement issued by her Media Adviser, Mr. Paul Nwabuikwu that while the Jonathan administration was willing to save for Nigerians, the plan was opposed by the state governors at the time.

She said the opposition culminated in the governors taking the Jonathan government to the Supreme Court in furtherance of their position that the Federal Government had no right to compel them to save.



The statement reads in part, “Some recent media reports have distorted comments made by former Finance Minister Dr. Ngozi Okonjo-Iweala regarding how lack of political will negatively impacted national savings over the past few years.

“Contrary to the slant, Dr. Okonjo-Iweala did not indict the Jonathan administration in which she served.

“Rather, she was referring to what many Nigerians already know: the strong opposition by some governors to the Jonathan government’s efforts to save in the Excess Crude Account and the Sovereign Wealth Fund sabotaged this important national priority.

 “The governors’ criticism of Dr. Okonjo-Iweala’s many calls for the country to save for the rainy day are still fresh in the minds of Nigerians.

http://punchng.com/i-didnt-indict-jonathan-over-savings-statement-okonjo-iweala/



Buhari Policies Annoying And Sending Away Investors - Bloomberg

“So far the Buhari administration has done all the wrong things,” Dehn said by phone from London. “Not only has he been incredibly slow in taking any action, when he finally has taken action on the economic front it’s been diametrically opposed to sensible policy. That is a major disappointment given expectations prior to his election.”

http://www.bloomberg.com/news/articles/2015-11-26/buhari-bounce-becomes-bust-as-nigeria-policies-annoy-investors

We all know who did what, just wish the news came from a more credible source

LadyExcellency:
I didn’t indict Jonathan over ‘savings’ statement – Okonjo-Iweala

The immediate past Minister of Finance, Dr Ngozi Okonjo-Iweala on Friday denied indicting the administration of former President Goodluck Jonathan on its inability to save for the rainy day.

The former minister said in a statement issued by her Media Adviser, Mr. Paul Nwabuikwu that while the Jonathan administration was willing to save for Nigerians, the plan was opposed by the state governors at the time.

She said the opposition culminated in the governors taking the Jonathan government to the Supreme Court in furtherance of their position that the Federal Government had no right to compel them to save.



The statement reads in part, “Some recent media reports have distorted comments made by former Finance Minister Dr. Ngozi Okonjo-Iweala regarding how lack of political will negatively impacted national savings over the past few years.

“Contrary to the slant, Dr. Okonjo-Iweala did not indict the Jonathan administration in which she served.

“Rather, she was referring to what many Nigerians already know: the strong opposition by some governors to the Jonathan government’s efforts to save in the Excess Crude Account and the Sovereign Wealth Fund sabotaged this important national priority.

 “The governors’ criticism of Dr. Okonjo-Iweala’s many calls for the country to save for the rainy day are still fresh in the minds of Nigerians.

http://punchng.com/i-didnt-indict-jonathan-over-savings-statement-okonjo-iweala/



Buhari Policies Annoying And Sending Away Investors - Bloomberg

“So far the Buhari administration has done all the wrong things,” Dehn said by phone from London. “Not only has he been incredibly slow in taking any action, when he finally has taken action on the economic front it’s been diametrically opposed to sensible policy. That is a major disappointment given expectations prior to his election.”

http://www.bloomberg.com/news/articles/2015-11-26/buhari-bounce-becomes-bust-as-nigeria-policies-annoy-investors

Even if its true that the Governors did not want Jonathan to save their share. But what about Federal Govt share of the excess crude account?? Where did it disappear to Obviously the Jonathan that dashed $2.1billion cannot by any stretch of the imagination be trusted to save any money for anybody!

Atiku 2019 We Know

Alariwo2:
GEJ shey you see your life now?

clueless, ineffectual and wicked at the same time.. your entire generations will suffer for it
Infact you are cursed already

Joseph who was not an Egyptian saved for famine in Egypt, yet a mistake not a Ghanian or Chadian could not save for his own country... Even after Okonjo and d likes warned you, you kept stealing

The man on the throne will smite you and all your hateful bigot worshippers blaming PMB now for our woes

Indeed, GEJ a.k.a.Jogogoro, Odechukwu (Phd without intelligence) and the Clueless, was the worst ever head of state; he presided over unprecedented looting of the country and literally squandered away our future; hence the bane of our current woes.

Hahahaha,recycled fake news

The IPOB youths will neglect this thread because they hate seeing the truth in their frustrated lives. They are used to deceit, propaganda and strife yet their very own throw tantrum on the mismanagement of the ineffectual buffoon administration. They defend moronic and senseless group of crooks and still claim to be the most sophisticated human beings on earth. I want to hear from their mouths that NOI is now an afonja

Was she not the minister for finance? What was her effort? It started from GEJ but buhari na area scatter. Buhari finished business

LadyExcellency:
I didn’t indict Jonathan over ‘savings’ statement – Okonjo-Iweala

The immediate past Minister of Finance, Dr Ngozi Okonjo-Iweala on Friday denied indicting the administration of former President Goodluck Jonathan on its inability to save for the rainy day.

The former minister said in a statement issued by her Media Adviser, Mr. Paul Nwabuikwu that while the Jonathan administration was willing to save for Nigerians, the plan was opposed by the state governors at the time.

She said the opposition culminated in the governors taking the Jonathan government to the Supreme Court in furtherance of their position that the Federal Government had no right to compel them to save.



The statement reads in part, “Some recent media reports have distorted comments made by former Finance Minister Dr. Ngozi Okonjo-Iweala regarding how lack of political will negatively impacted national savings over the past few years.

“Contrary to the slant, Dr. Okonjo-Iweala did not indict the Jonathan administration in which she served.

“Rather, she was referring to what many Nigerians already know: the strong opposition by some governors to the Jonathan government’s efforts to save in the Excess Crude Account and the Sovereign Wealth Fund sabotaged this important national priority.

 “The governors’ criticism of Dr. Okonjo-Iweala’s many calls for the country to save for the rainy day are still fresh in the minds of Nigerians.

http://punchng.com/i-didnt-indict-jonathan-over-savings-statement-okonjo-iweala/



Buhari Policies Annoying And Sending Away Investors - Bloomberg

“So far the Buhari administration has done all the wrong things,” Dehn said by phone from London. “Not only has he been incredibly slow in taking any action, when he finally has taken action on the economic front it’s been diametrically opposed to sensible policy. That is a major disappointment given expectations prior to his election.”

http://www.bloomberg.com/news/articles/2015-11-26/buhari-bounce-becomes-bust-as-nigeria-policies-annoy-investors

Jonathan Had No Political Will To Save - Ngozi Okonjo Iweala


https://www.youtube.com/watch?v=z4I9yanhAaM

Watch the video above and cover your face in shame

Jonathan Had No Political Will To Save - Ngozi Okonjo Iweala


https://www.youtube.com/watch?v=z4I9yanhAaM

Everyone should see that video...

NoI affirmed that they (Gej and her) lacked the political and will to save.

Is Jonathan also responsible for the decline in power supply since buhari became president?

Is Jonathan also responsible for the electoral manipulations that have become the norm since buhari came to office?

Perhaps Jonathan is also responsible for the killing of Shi'ite Muslims and armless Biafran protesters?

Blame everything on Jonathan while buhari is blameless!

.

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