johnmattew:
dementia?...but she was the finance minister when oil boom was experienced,yet she kick-started the downfall of our economy

No she did not.

The issue was that GEJ's government did not listen to her on removal of fuel subsidy, otherwise by now, our economy would have been in a better place.

Excess crude account...governments did not listen to her on that (Bubu inclusive)

Gnaeusmagnus:
The problem is, they won't listen

If South Africa wants to be proseprous, they have to increase their manufacturing power. This recession came about because they got too dependent on exporting raw materials, and less dependent on exporting manufactured stuff.

Modifed

Part of the problem is that the arphateid government refused to improve vocational and technical education among the black majority. Because they did not want them to get stronger than the white minority. This meant that as a result, when arphateid came down, SA was not really ready for the global market.

SA could have been an industrial superpower on the level of Japan, China and even Germany. Racism failed them.

The ANC government when they took over, made matters worse. Because there was a high demand for welfare from the poor black majority, they immeidately put their economy on 'sell raw materials, earn money, share the money' mode. Chinese exports wiped out vital parts of their economy like the steel industry. At the end of the day, SA became a resource dependent economy.

A big lesson for Nigeria too.

The sooner they hand that country back to the white man, the better for them.

oilPUSSY:
Where is Kemi Adeosun, the yoruba version of Ngozi Okonjo Iwela ?

Hater... Where are you?

Are they in competition?

Ngozi is probably old enough to be Kemis mom...

Receive sense and stop tribalising everyone and everything!

solmusdesigns:
S.A is largely a tourism funded economy, and since they started xenophobia things started nose diving, and coronavirus now made it super worst

Olodo!!!

This is beyond your scope. Search for a bigotry laden topic and show your expertise.

As if it was not a declining economy that instigated the xenophobic attacks in the first place.

That is a good one.

Gnaeusmagnus:


No she did not.

The issue was that GEJ's government did not listen to her on removal of fuel subsidy, otherwise by now, our economy would have been in a better place.

Excess crude account...governments did not listen to her on that (Bubu inclusive)

who was the minister when about 25 billion dollars was removed from our foreign reserve?

who was the minister during dollarisatiom of 2015 elections?

johnmattew:
dementia?...but she was the finance minister when oil boom was experienced,yet she kick-started the downfall of our economy

You definitely know nothing about the Nigerian economy! That woman was the stabling factor in the Nigerian government..

You read all those political gimmicks by oshimole and others! She was a huge asset to the Nigerian government

God bless Goodluck Jonathan. He Appointed competent hands to handle our country and its Economy. today reverse is the case

Buhari of Nigeria knows only borrowing as economics
And the money he borrows party goes to infrastructure in Niger Republic.

They are going to pay her good money for the service.

What did he achieve during Jonathan's regime.

DModeCntStopMe:


Woman of substance!

This is the calibre of personalities that should in govt

But because of the nepotistic inherit nature of the dictator cum jihadist, bright minds like madam Iweala have been sidelined

Names like mungono, kyari, karu, etc...are what we see in every position, folks whose speciality and expertise are needed in anything that has to do with cows

God bless you our darling mummy.

Keep waxing strong ma, while the shithole keeps retrogressing

SpecialAdviser:
Great. I really wished Buhari swallowed the humble pie and appointed this woman into his cabinet.

Everything cannot be politics of bitterness. Good people that can help your government should be considered irrespective of party affiliation.

A tree can't make a forest

Righteousness89:

You definitely know nothing about the Nigerian economy! That woman was the stabling factor in the Nigerian government..

You read all those political gimmicks by oshimole and others! She was a huge asset to the Nigerian government

she was a huge asset during Obasanjo's tenure...not Jonathan

she was conniving with IMF/World Bank for our economy downfall

otokx:


The sooner they hand that country back to the white man, the better for them.

The whites, as I said, made a big mistake in not spending well on education for the blacks, and also restrcting jobs for them (to be , for example, an air technican, was prohibited for blacks)

The result, when arphateid fell, was that there was a country with millions of poorly educated people who could not make much contributons to the economy. (China, on the other hand invested heavily in technical education..with the result that it is the world's workshop)..meaning that they did not have the means to build a proper industrial economy.(The arphateid government tried to solve the problem by importing white workers, and exporting agric priducts, and spending less on the blacks, and more on whites)

Plus many of those people wanted the benefits of 'freedom' (many of them fought for the end of Arphateid, and suffered. Jacob Zuma , for example, is a corrupt lout, but he did spend over 20 years in jail for his anti-arphateid activity..which is a big reason why he and his first wife don't have kids...he was arrested after they got married)..and the ANC immediately did what many African countries did...ramp up the exports of raw materials for quick money

Problem is, the prices of the raw materials SA sells are not controlled by the government (Diamonds, a major export earner, has its prices set in London, not Joburg)..so if prices fall below the price that can sustain the economy, problems start

Hence the recession

gwafaeziokwu:



Olodo!!!

This is beyond your scope. Search for a bigotry laden topic and show your expertise.

As if it was not a declining economy that instigated the xenophobic attacks in the first place.

Recession means economy contrasting instead of growing, meaning your quarterly economic growth is negative, in Nigeria the numebr one thing funding our economy is GDP largely backed by crude oil sales, and in SouthAfrica its tourism... when oil price suddenly declined Nigeria suffered recession, and when tourism declined in south africa their economy contrasted

MR OLODO its not rocket science

The recessionist economist, she just left Nigeria when Nigeria entered into recession, now she is in south Africa

I cannot forget when this woman rebased our GDP and said Nigerian GDP was $500b, now the same GDP is about $440b many years later

We had her for eight years, what did she do? I cannot point to a single legacy of Madame Ngozi.

SpecialAdviser:
Great. I really wished Buhari swallowed the humble pie and appointed this woman into his cabinet.

Everything cannot be politics of bitterness. Good people that can help your government should be considered irrespective of party affiliation.

Thank God he didn't appoint her otherwise the same bunch of hypocrites who blamed gej for the wrongs of some of his aids will never blame Buhari if Iweala is forced by the northern mafia/cabal to implement certain retrogressive policies. They will foam in the mouth and blame her all day 24/7,360, like they still do to gej today.

Dasuki is alleged to have committed fraud but hypocrites rather leave him alone and concentrate on Alison Diezani maduake,Stella Oduah..real pathetic

Just take a look at the above ^^^^ and below posts vvvv
Lzaa immhotep

She is part of those that ruined Nigeria.

when I say igbo
you say amaka

One of those people that destroyed the Nigerian economy.

XANDERBOY85:
Aunty Ngozi making us proud again!

They should get Soludo on board as well!

Okonjo Iweala put Nigeria in recession while Kemi got Nigeria out within 1 year even with an obstinate man like Buhari.







Africa's richest economy is borrowing money to pay salaries as it struggles through a "difficult cash crunch" brought on by halved oil prices, Nigeria's finance minister revealed.

The news comes as Nigeria prepares to welcome a new government at the end of this month and the country's naira currency remains in a slump, hovering between 180 and 220 to the US dollar. It was trading at 160 a few months ago.

Minister Ngozi Okonjo-Iweala tried to be upbeat in a speech on Tuesday after lawmakers approved the 2015 budget - revised three times because of slashed oil prices that provide 80 percent of revenue for the government of Africa's biggest petroleum producer.

She said "revenue challenges" had prohibited the release of any funds for capital expenditure this year but that food prices and single-digit inflation remained quite stable. And she said the economy still was on course to grow 4.8 percent this year.

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"We have front-loaded the borrowing programme to manage the cash crunch," Okonjo-Iweala told lawmakers.

"Out of the 882 billion naira budgetary provision for borrowing, the government has borrowed 473 billion naira to meet up with recurrent expenditure, including salaries and overheads."

That is bad news for the incoming government of President-elect Muhammadu Buhari, who takes over on May 29 from incumbent Goodluck Jonathan.

Buhari acknowledges that constricted revenue and endemic corruption threaten his will to deliver on development and reconstruction of areas devastated by a nearly 6-year-old rebel uprising in the northeast.

He says his fight against corruption should produce the money needed to bring change to a country where oil proceeds benefit a small clique while the majority of the 170 million people in Africa's most populous nation live hand to mouth.

Critics blame the financial crisis in part on the most expensive election ever held in Nigeria, though no one knows how much politicians from both sides spent during their campaigns





https://www.aljazeera.com/news/2015/05/150506055148505.html

If you are good you are good

References:
With President Ramaphosa, members of cabinet, and members of the Presidential Economic Advisory Council in Pretoria discussing sources of growth for the South African economy and win-win economic interactions with the continent.

https://twitter.com/NOIweala/status/1236204448407568385?s=19

Woman of Substance. Not all these Empty brain Slay Queens everywhere. Slay in the morning, afternoon and night.

His name is Femi Adeshina. You can google it to know his whereabouts

oilPUSSY:
Where is Kemi Adeosun, the yoruba version of Ngozi Okonjo Iwela ?

SpecialAdviser:
Great. I really wished Buhari swallowed the humble pie and appointed this woman into his cabinet.

Everything cannot be politics of bitterness. Good people that can help your government should be considered irrespective of party affiliation.

She failed so there was no need to reappoint her.

In our history no finance minister has had more revenue at their disposal as she did between 2011 and 2015.
What did she do with it?
Much of it was stolen
She failed to save and the moment oil price dropped she was found out.

She started to borrow to pay salaries immediately that happened

Her very first budget in 2012 saw the subsidy scandal.in which subsidy tripled overnight

She released stolen funds to Olisa Metuh, Fayose ,Dasuki


The truth is that under her there was UNPRECEDENTED LOOTING of our commonwealth and an embarrassing failure to DIVERSIFY from oil

mercyville:


Okonjo Iweala put Nigeria in recession while Kemi got Nigeria out within 1 year even with an obstinate man like Buhari.

My dear,don't mind the bigots.
Let them continue typing trash like they have acute amnesia.

fairfora:
I would never be useless because I don't share in their useless ideas.

... As long as you remain in Nigeria and within the African continent! You shall become a USELESS LEADER one day !

Of what importance is she to Nigeria, misplaced priority by Ramaphosa