Sustainability Watch Nigeria

Amina Mohammed, the deputy secretary-general of the United Nations (UN), says Ngozi Okonjo-Iweala, two-time minister of finance, spent years to get Nigeria out of debt, but the country is now back to worrying levels of debt.

Speaking at the International Monetary (IMF) and the UN working together conversation on Tuesday, the former minister of environment in Nigeria, expressed her worry on the rising level of debt in Nigeria and the rest of Africa.

She said the UN and IMF must have better conversations on the demands of a growing economy, seeking ways to make growth better and inclusive.

“Public resources are always going to be important, and so is ODA and the private sector. But I think we still haven’t yet got quite the solution and I hope that the work that we do together will open up that space to think more on how to leverage that,” she said.

“As I was coming up from New York, some of the concerns that came up from the meeting we had in China just recently and reports that we have; the debt issues are really big, I mean, having experienced what it was for Ngozi (Okonjo-Iweala) to get debt relief.

“It took her a few years to convince people, and we are now back again in my country, with a level of debt that is worrying, but its happening all over. Africa, is that the way we want to go?

“I think we really need to sit down and have a better conversation about all the asks of a growing economy; that needs to be inclusive, it needs to succeed, because stability is needed more than ever today, across our countries and where we are working.”


Read Also: Why Nigeria May Never Achieve The SDGs


In the conversation with Christine Lagarde, the managing director of the IMF, Mohammed had agreed with Lagarde that Okonjo-Iweala was very influential in the debt relief Nigeria secured in 2006.

Before 2005, Nigeria had an external debt stock of $36 billion, which had been carried over from the military years, dating back to 1985.

In October 2005, with Okonjo-Iweala as finance minister, Nigeria and the Paris Club announced a final agreement for debt relief worth $18 billion and an overall reduction of Nigeria’s external debt stock by $30 billion.

The deal was completed on April 21, 2006, when Nigeria made its final payment and its books were cleared of any Paris Club debt, bringing Nigeria’s external debt profile to just $3 billion while domestic debt was only about N1 trillion.

As at June 30, 2018, Nigeria’s total debt profile, according to the Debt Management Office (DMO) had risen to $73.21 billion or N22.38 trillion.

AMINA MOHAMMED AS THE ‘DUSTBIN LADY

The mother of six also spoke about every of the 17 goals that make up the SDGs as her children, saying all were equally important for the future of the world.

She added that when she was appointed minister of environment in Nigeria, she was seen as the dustbin lady, because the people did not see the real value of her office.

“I have to tell you, when I went back to Nigeria as minister of environment, my state was saying, it was environment they gave you? that is the dustbin lady. They did not even get that environment was broader than just waste disposal,” she told Lagarde and a room full of development experts.

She said climate change is important, so is gender parity and inclusion for youths.

Mohammed stated that “the average age of entry into the United Nations is 45”, adding that the UN is working hard to change this, and include young people in its working process.

Buhari really undervalued this woman. he never truly knew her worth. See the amazing works she is doing on the global stage.

sustainnig:

Buhari really undervalued this woman. he never truly knew her worth. See the amazing works she is doing on the global stage.

women belongs to the kitchen ad D oda Room- Buhari

Shut up!!

What does she know?
Does she think Buhair doesn't have a plan?!

America has bought her.

She prefers we borrow from IMF instead of China.

Abeg go your way and leave us

Ride on my woman


Okonji/Amina for presidency

haters wail

wickyyolo:
America has bought her.
She prefers we borrow from IMF instead of China.
Abeg go your way and leave us

But she's Nigerian!!
and every disappointment turned to an appointment

Sarkin:
Shut up!!

What does she know?
Does she think Buhair doesn't have a plan?!

No brain

If a professor is deputy to an Illiterate in Nigeria, then anything can happen.

Mumu op. Where in the article did she say Buhari humiliated her?

Environment is a big and juicy portfolio, Aminat people lack knowledge, if u are a commissioner of environment in Lagos State, you are as powerful as the governor.
On the issue of debt profile increasing, madam Aminat, it is better to have high debt profile to fix all our physical infrastructures, power, roads, security etc as this current government is doing than have zero debt profile and no single infrastructure working or available as witnessed in the past government of obasanjo-jonathan. We have potential to pay any debt back if infrastructures are available and working ...

When will people read to Understand, chai i am ashamed with some comments i read