LAGOS—FORMER Finance Minister, Dr. Ngozi Okonjo-Iweala yesterday said it was better to allow those managing Nigeria’s economy to do the best they could, noting that there could be solutions to the present economic decline in the country.

She also noted that she would not be available to serve the present administration if overtures were made to her by President Muhammadu Buhari, noting that Nigeria boasts of competent people, who would offer their services when called upon.

Okonjo-Iweala, who said this while participating in an Aljazeera programme: The Stream, regretted that the economic gains recorded in Africa started eroding a few years ago, noting that solving macroeconomic question was key to fixing the continent’s economic challenges.

She specifically said that having a firm control over the rate of inflation in addition to ensuring a stable exchange rate should be prioritised by African governments.

She said: ‘’ One of the things you learn as you get wiser is to talk less as you grow older. I have spent my time contributing to the country. It will be better to live those managing the economy to do what they know how to do. There can be solutions.

“I am not a typical politician. I went in as a technocrat. I think on the continent we have seen a period when the economy was doing well, in the last two years we have been experiencing challenges. We need to focus on the basics which are macro-economics. You must get the fundamentals like having a stable exchange rate and having inflation under control.

“I served my country for seven years and it was a great honour. The second time was very tough but it is still an honour. I am not the only person who is a repository of knowledge. There are other people who can equally try their hands in running the economy.

“I will advise young people not to wait for employment. They should create jobs to employ six people or more. During my time in government, we had a programme called You Win designed to support young entrepreneurs. The whole idea was to have a business plan competition.

“The idea was that they should create jobs. And each, created 9-10 jobs. The World Bank did an evaluation of it and found it good. I do believe that the government should come in. We started a peer to peer mentoring. Now, one of the things I want to say is that creating employment is not only about struggles, it is about managing success.”

Also, counseling people on accounting, bookkeeping and not falling apart is very important.”

Responding to a question on how the anti-corruption war was fought during her time in government, she said: “It was a very tough fight, I must thank my team, you don’t do it alone, I had the support of an economic team in the Ministry of Finance. It was tough because at the end of the day you need to have some principles.”

On her roles as a Finance Minister, Okonjo-Iweala said: ‘’The average life span of a Finance Minister is two year in a country. No one likes a Finance Minister because it is the business of saying no. It is very difficult and challenging. It was interesting for me. I wish I had seen myself as wielding power. All I saw was the job because I was seeing myself working for the country.”

sarrki:
Madam , you won't even be called to serve

nobilis:
Really??
The YouWin that served as an avenue for embezzling funds?

How much did you save in Nigeria's time of abundance? Because you were at the helm of her finances when her main and virtually, only, export, crude oil, was sold for the highest price ever in the history of the world.

Where is the FG's share of the ECA?

What did you people do with the economy when Nigeria was in her time of plenty?

nobilis:
Really??
The YouWin that served as an avenue for embezzling funds?
How much did you save in Nigeria's time of abundance? Because you were at the helm of her finances when her main and virtually, only, export, crude oil, was sold for the highest price ever in the history of the world.
Where is the FG's share of the ECA?
What did you people do with the economy when Nigeria was in her time of plenty?

sarrki:
Madam , you won't even be called to serve

devilmaycry:
u did be suprise ... Am still baffled that she hasn't been caught of fraud yet

devilmaycry:
u did be suprise ... Am still baffled that she hasn't been caught of fraud yet

devilmaycry:
exactly ...well spoken .... Walahi this woman should be caught for embezzlement.

devilmaycry:
u did be suprise ... Am still baffled that she hasn't been caught of fraud yet

mazimee:


Channel your frustration to your president and his dumb incompetent ministers.
Your hatred won't change anything about her.

mazimee:


Channel your frustration to your president and his dumb incompetent ministers.
Your hatred won't change anything about her.

saint7000:


Look at them...the problem of Nigeria; causing confusion, choas left and right, up and down in this country. Their sister pop-and-mom shop accountant has practically destroyed our economy, and these confusonists are blaming a world renowned economist whom under her stewardship Nigeria became the largest economy in Africa. Today, all of that gain has vanished. And these two have the temerity to tarnish her image? Afonja are naturally hateful!

saint7000:


Look at them...the problem of Nigeria; causing confusion, choas left and right, up and down in this country. Their sister pop-and-mom shop accountant has practically destroyed our economy, and these confusonists are blaming a world renowned economist whom under her stewardship Nigeria became the largest economy in Africa. Today, all of that gain has vanished. And these two have the temerity to tarnish her image? Afonja are naturally hateful!

December 10, 2015
The Federal High Court in Lagos has ordered a
former Minister of Finance, Ngozi Okonjo-
Iweala, and the Federal Government to “provide
information on the spending of the alleged
missing N30 trillion which represents some
accruable income to the Federal Government
during the last four years of the administration
of former President Goodluck Jonathan.”
The judgment was delivered last week by Hon
Justice Ibrahim Buba following a Freedom of
Information suit number FHC/L/CS/196/2015
brought by the Socio-Economic Rights and
Accountability Project (SERAP).

As a September 25, 2013 memo from Central
Bank’s Governor Lamido Sanusi suggests,
President Goodluck Jonathan, together with
Petroleum and Finance Ministers, is involved
in illegal diversion, or theft, of over N8
trillion crude oil sales proceeds. Reacting to
the news, Minister of Finance, Ngozi Okonjo-
Iweala did not provide any details on
whereabouts of the money; instead, she
criticized those who have mounted a
“campaign of falsehoods and distortions”
against her.
Back in September, Sanusi noted that for all
crude oil sales within the period, the Nigeria
National Petroleum Corporation paid only 24
percent proceeds into the federation account,
and diverted or stole the remaining 76 percent-
totalling N8 trillion between January 2012 and
July 2013.

saint7000:


Afonja nuisance. Blinded by hate!

kettykin:
What if Okonjo iweala, soludo, Nnaji and other igbo should not contribute anything in form of advice to the federal government and let APC government source for this advice else where.
I learnt Mikel bailed out the eagles during the Olympics, iheanacho left his thriving career to come and bail out the Nigerian team during the last qualifiers against Tanzania. What if such assistance stop .The government of Nigeria is bigger than any individual.

What if Igbos who don't know what to do with their talents open consultancy for free for needy African countries . You can't continue to assist a nation that hates You so much that they are proposing to kill the economy of your region and people through scorched earth policies of allocating zero budget to projects from your region.

I also understand igbos are winning laurels for the nation in the paralympics.

If you don't know what to do with your talent then you can provide your talents to boost the medal ranks of independent participants in the Olympics.

saint7000:


Look at them diabolical afonja...the problem of Nigeria; causing confusion, choas left and right, up and down in this country. Their sister pop-and-mom shop accountant has practically destroyed our economy, and these confusonists are blaming a world renowned economist whom under her stewardship Nigeria became the largest economy in Africa. Today, all of that gain has vanished. And these two have the temerity to tarnish her image? Afonja are naturally hateful!

smada13:


what have you said now bros, really what have you contributed if not hate talks and bigotry.

if I ever come across the person that sponsored you through school, I'll advice the person to find away to get his money back cuz its turning to a waste.

sarrki:
Madam , you won't even be called to serve

mrvitalis:
High crude prices made us the world largest economy. . Not her

smada13:


what have you said now bros, really what have you contributed if not hate talks and bigotry.

if I ever come across the person that sponsored you through school, I'll advice the person to find away to get his money back cuz its turning to a waste.