Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,201,304 members, 7,977,959 topics. Date: Thursday, 17 October 2024 at 04:14 PM |
Nairaland Forum / Nairaland / General / Politics / Former Minister Of Finance-ngozi Iwealla Speaks On The Economy (924 Views)
Gbajabiamiala, Others Trying To Distort My Book For Politics–okonjo-iwealla / Former Minister Of Finance, Ngozi Okonjo-iweala Appointed UK Bank Director / Ex-minister Of Finance, Ngozi Okonjo-iweala Appointed As A Bank Diector In The U (2) (3) (4)
(1) (Go Down)
Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by ndudiogeleka: 8:29am On Jan 28, 2018 |
Former Finance Minister: Ngozi Okonjo Iweala Speaks: Most Nigerians are misguided by lies and propagandas on the present administration. I still find it funny that most people don't know why Nigeria economy went into recession, they love the incompetent lies about the past government ruining everything. It's also myopic to think that if Jonathan were to still be in power, we would be worse off. The truth about Nigeria's recession is this; it was caused by the president's unguided rhetoric and uncultured body language. Firstly, there is nothing we are buying today that we weren't buying 5 years ago, therefore it's not our purchase that put pressure on Naira but withdrawal of funds by foreign investors. After the election, the president created instability with his unguided statements about how everyone is corrupt and how everyone is going to jail. The instability made foreign investors to liquidate their investment and change their money to dollars. In the process of trying to flee, they were willing to buy dollars at any price, which lead to high exchange dollar rate. Even though some of them were not ready to run away, but want their money in dollars to save their investments from devaluation, the president gave a bad signal by banning deposit of foreign currency into dormiciliary accounts. That was enough for free market believers to see the draconian handwriting on the wall, that was the beginning of dollar rush. To make matters worse, the president came up with another outrageous policy of rationing dollar to certain sectors and blocking many sectors out. That was the nail in the coffin which facilitated the emergence of free FALL. In the end, foreign investors took over $80B out of the economy within a short period and everything went down to free fall. To those who believe it will be worse if Jonathan is still there, you are all wrong. Policy continuity and political stability will not let billions of dollars leave our shores within such tiny time frame. Even though the government might have income shortage, the private sector will weather the storm by their confidence in the market. The fear of the unknown created by PMB is responsible for the economic downturn not low oil price. Interest rate in America is currently at 0.5% while it is 12% in Nigeria. JP Morgan Chase will not mind borrowing $50 billion from Feds at 0.5 and put in Nigeria for return of %2000 profit. Citi bank will do the same, likewise US Bank Corp. Chase gave Buhari warning about the repercussions of his fixing policy before they pulled out, but his illiterate cyber warriors and misseducated e-soldiers said JPMORGAN can go to hell, they no longer believe in economic metrics since their messiah is in charge. Funny enough they are all suffering today because of the bad policy, but they find relief by blaming it on past administration and Gucci appetite of average Nigerians. For your information, if your president "continues" with his unguided rhetoric, Naira will go down to N1000/1 $. But we thank God, he is no longer talking. Copied |
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by Nobody: 8:30am On Jan 28, 2018 |
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by Sunnymatey(m): 8:42am On Jan 28, 2018 |
Adeosun is a learner. So, convincing than all these blame game. Facts are facts. 1 Like |
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by Sunnymatey(m): 8:47am On Jan 28, 2018 |
Its only Nigaeria economy that runs on BODY LANGUAGE . . . . . . . u can see the result. |
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by hardywaltz(m): 8:49am On Jan 28, 2018 |
Least we forget 1 Like
|
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by Klinee: 8:50am On Jan 28, 2018 |
The illiterate PMB will not know these, people are suffering, hunger everywhere, no money, no food, things are cost the President is not doing anything. |
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by Nobody: 8:58am On Jan 28, 2018 |
The truth about Nigeria's recession We told them, but they daid he is a General.. there is nothing we are We told them aswell, they said "Buy Naira to grown Naira, that thise investors are fraudulent.. the Well, we mentioned this aswell, they said it was the result of 16 years PDP. but his illiterate cyber warriors Madam, you just can just imagine when okonjo is called and illiterate.. Funny enough they are all suffering Praise God he has stopped talking, he has even stopped on matter that require his urgent attention. |
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by blackpanda: 9:00am On Jan 28, 2018 |
Sunnymatey: And u bought that horseshit Ask okonjo to return her loot and all the bribes she collected from importers in exchange for not paying any tax. If jonathan was d messiah as she claimed, pmb would never have smelled asorock 1 Like |
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by heffem(m): 9:01am On Jan 28, 2018 |
You can never give what you dont have!.... BMC's over to you... empty heads |
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by blackpanda: 9:01am On Jan 28, 2018 |
Its God that will punish u jonathan and all the pdp and apc looters. Greedy woman. Only morons will believe your heap of lies |
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by Yyeske(m): 9:03am On Jan 28, 2018 |
Kids everywhere with no functional brains to reason, someone from nowhere just wrote trash and credited it to Mrs Okonjo Iweala without any credible source and they are already jubilating over it. Leaders of tomorrow indeed. 4 Likes |
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by omohayek: 9:07am On Jan 28, 2018 |
Yyeske:Well said! A highly qualified economist like Okonjo Iweala would never stoop to such shallow economic "reasoning" as displayed in this ridiculous unattributed rant. I don't know why so many Nairalanders have to add brazen dishonesty to their stupidity by putting their nonsense in the mouths of people who never said them. 3 Likes |
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by okosodo: 9:08am On Jan 28, 2018 |
T |
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by Sagamaje(m): 9:08am On Jan 28, 2018 |
Shame on APC, shame on Buhari and shame Buhari Media Cows
|
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by mikejj(m): 9:09am On Jan 28, 2018 |
mama said..mayopic..bcuz apc are failing she has mouth to talk |
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by AZeD1(m): 9:12am On Jan 28, 2018 |
Please have some respect and don't attribute this rubbish to Okonjo Iweala. She never made this statement. 2 Likes |
Re: Former Minister Of Finance-ngozi Iwealla Speaks On The Economy by Mynd44: 9:12am On Jan 28, 2018 |
8. Don't post false information on Nairaland |
(1)
See How Corruption Walked Out Of Nigeria In 2015 / 5 Unbelievable Approaches To Solving Some Nigeria's Greatest Problems / Shehu Sani An ‘internally Displaced Person In APC’ – PDP Group
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 31 |