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Nairaland Forum / Nairaland / General / Politics / Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy (20922 Views)
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Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by bruno419(m): 8:00pm On Oct 21, 2014 |
Abuja – The Minister of Finance, Dr Ngozi Okonjo–Iweala, has assured Nigerians that the economy is growing positively in spite of the reduction of oil price in the international market. Okonjo-Iweala, who stated this on Tuesday at the 2014 Ministerial Platform in Abuja, said the nation was not broke as being speculated in the media. She said “if you look back two years ago, that title `is Nigeria broke‘ was written in a newspaper article, it is like people are trying to force Nigeria into brokerage. “I think since two years, we have managed to keep things going, let me explain these; Nigeria is a country that depends on a stream of income. “That income is being able to collect taxes from companies, individuals and our income is also based on selling a product and that product you take to market and you take whatever price a buyer is willing to pay.’’ According to her, government is doing everything within its power to ensure economic stability in the country. She said that presently, government had been budgeting below the existing oil price to help build buffers in case of uncertainty. “We are operating an economy that depends on a product that fluctuates with oil price and we don’t have the right to control the price. “Just like you have in your own household, when the quantity diminishes or the price drops, you remember in 2007 to 2008, the price of oil dropped from 140 dollars to 38 dollars. “At that time, nobody asked if the country was broke because we had saved up 22 billion dollars in the Excess Crude Account and we were able to continue spending and to stablise the economy.’’ The minister said that presently Nigeria was faced with fluctuations in quantity and price of oil, adding that it had affected the amount paid into government coffers. “Does that mean that the country is broke? We still have resources that we depend on; we still have the ability to tax. “Sometimes, things need to be a little tighter, easier and we just have to weather it and manage ourselves but that does not amount to the country being broke.’’ The finance minister said if government was not able to pay salaries to people and continue to manage, “then we can say that the country is broke but we have not gotten there yet.’’ She urged Nigerians to bear with the nature of the economy, adding that it was the reason every effort was challenged to ensure the economy was diversified. Commenting on the management of the fiscal deficit, she said that the Ministry of Finance would continue to ensure that it was kept as narrow as possible. She said that in 2013, the debt to Gross Domestic Product (GDP) ration was 1.4 per cent and 1.03 per cent in 2014 and projected to be one per cent in 2015 budget. . She added that borrowing had been on the decline and external debt stood at N1.46 trillion or 14 per cent of the total debt. The ministry had adopted prudence to debt management and Nigeria’s debt to GDP remained one of the lowest in the world. (NAN) source: www.vanguardngr.com/2014/10/nigeria-is-not-broke-okonjo-iweala/ 3 Likes 1 Share |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Canadidacy(m): 8:11pm On Oct 21, 2014 |
Her presentation is a brilliant Nigerian macro economic analysis. Nigeria has a very good macro economic policy from time, but the implementation strategy has always been the issue. The article she delivered seems like a propaganda. Anyway, let's see how it goes. 5 Likes 1 Share |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by merit12(f): 8:22pm On Oct 21, 2014 |
ㅃㅂ |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by morbid: 8:22pm On Oct 21, 2014 |
All these economic projections and percentages that do not translate to more money in my pocket;na una sabi(una and sabiguy,and evrioda sabi smbody wey D̶̲̥̅̊є̲̣̥y̲̅ der). 26 Likes |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by PAnaceA7(m): 8:23pm On Oct 21, 2014 |
For How LOOOONG 8 Likes |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by laclass(m): 8:23pm On Oct 21, 2014 |
Ok |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Pesuzok(m): 8:23pm On Oct 21, 2014 |
Suffering and smiling 17 Likes |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Hysmady(m): 8:23pm On Oct 21, 2014 |
Hmmm... |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by ayusco85(m): 8:23pm On Oct 21, 2014 |
Do we have a choice? ![]() 12 Likes 1 Share |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by BRAV0O(m): 8:23pm On Oct 21, 2014 |
This fat woman will never cease to amaze me! She keep painting nigeria economy in papers, is it too big for us to ask that the masses should felt the impact ? 48 Likes |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Panshow(m): 8:23pm On Oct 21, 2014 |
Yesterday was minister of power urging us to bear with the huge decline of about 1000 mega watts. Today is minister of finance urging us to bear with the economy of the country. You sure say GEJ never sell this country?. 122 Likes 14 Shares |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by terrifik19(m): 8:23pm On Oct 21, 2014 |
ask her how many of her children is in the country www..com 29 Likes |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by LEERICIST(m): 8:23pm On Oct 21, 2014 |
OK OH |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by gratiaeo(m): 8:24pm On Oct 21, 2014 |
And our Otueke uncle and his VP are feeding with over N1 billion annually. Why the common man should wait till thy kingdom come. Stupid people!!! 70 Likes 1 Share |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by klem93(m): 8:24pm On Oct 21, 2014 |
2 Likes |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by mcdokwe(m): 8:24pm On Oct 21, 2014 |
Ok ma, continue chopping. 8 Likes |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by tolu4you: 8:24pm On Oct 21, 2014 |
i wont read this..... stop deceiving us okonjo 20 Likes |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Nobody: 8:24pm On Oct 21, 2014 |
Just coming out from the toilet Returns back to shiyt again........... To comment later!! 3 Likes |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by akpanikpe(m): 8:25pm On Oct 21, 2014 |
Make me sef follow book space dey look. 1 Like |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Rawani: 8:25pm On Oct 21, 2014 |
Largest African Economy indeed. Zero corruption = Foreign Direct Investment = Robust economy Gen. Buhari (rtd.) is what is needed. 104 Likes |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by HAH: 8:25pm On Oct 21, 2014 |
For how long are we going to keep bearing with you: "Only a fool will keep doing the same thing over and over and expect a different result" Solution ; kick out PDP 2015 Nigeria sai Buhari/ Fashola 93 Likes 3 Shares |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by piagetskinner(m): 8:25pm On Oct 21, 2014 |
Sipping tea....I dey come 1 Like |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by priscaoge(f): 8:25pm On Oct 21, 2014 |
Nigeria is still the Giant of Africa no matter the amount of corruption from the Corrupt Leaders.!!!!! 2 Likes 1 Share |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by imsuboi(m): 8:25pm On Oct 21, 2014 |
Hilarious! 1 Like |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by hadizadeezy(f): 8:25pm On Oct 21, 2014 |
we've been bearing! so Mrs okonjo continue dey steal. 5 Likes |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by bruno419(m): 8:26pm On Oct 21, 2014 |
i knew i would make fp...after spending all my day on nairaland,i should have something to show for it ![]() 1 Like |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by jideflash(m): 8:26pm On Oct 21, 2014 |
Okay o Meanwhile, lil kesh last card vs Peres voodoo https://www.nairaland.com/1958490/lil-kesh-last-card-vs |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Nobody: 8:26pm On Oct 21, 2014 |
Yea |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by joedejana(m): 8:26pm On Oct 21, 2014 |
bruno419:And I just Came on now...I hit three topics ![]() Meanwhile, OKONJO TRUST ME, NOT IN YOUR TENURE ![]() ![]() ![]() DON'T CHECK MY PROFILE 1 Like |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by dayoungmoney1: 8:27pm On Oct 21, 2014 |
see space booking everywhere! |
Re: Okonjo-iweala Urges Nigerians Tobear With The Nature Of The Economy by Nobody: 8:28pm On Oct 21, 2014 |
60% of d comment on front page r just to book space, dis 1 included. 1 Like |
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