As
Nigeria faces its worst economic crisis in decades, the immediate past
Finance Minister, Ngozi Okonjo-Iweala has aired her views on how the
President Buhari-led federal government can revive the economy.
Ngozi Okonjo-Iweala
Speaking in an exclusive interview on Aljazeera TV programme, The
Stream, the immediate past Minister of Finance, Ngozi Okonjo-Iweala,
said on Monday that having a handle on Nigeria’s spiralling inflation,
foreign exchange problem, fiscal deficit and debts control were key to
resolving the country’s current economic crisis.
According to Premium Times
who monitored the interview, she revealed further that focusing on the
basic issues of macroeconomic stability was crucial to fixing the
country’s economic challenges.
“If you don’t pay attention to the fundamentals of having a
stable and good exchange rate policy, inflation under control,
manageable fiscal deficit and debts, there will continue to be trouble
in the economy,” she said.
It can be recalled that Nigeria's economy slipped into recession
after contracting in the first two quarters of 2016, and is currently
facing its worst economic crisis in decades.
National Bureau of Statistics reported some weeks ago that inflation jumped from 16.2% in July to 17.1% in August 2016.
The former World Bank Managing Director, told Al Jazeera that she
remained optimistic that solutions to the country’s economic decline
could still be found.
Asked what would be her top three priorities to resolve the
country’s current economic crisis if she had remained the finance
minister, Mrs. Okonjo-Iweala said she would prefer the current managers
of the economy talk about it.
“I have contributed the best I could to the country. It is
still the most interesting country in the world. It is better to leave
those who are managing now to say what they would do.
“All I can say is that there are solutions. Nigeria is a
vibrant country. I love it so much. I know it is going to come out of
this one way or another,” she said.
On if President Muhammadu Buhari were to ask her to come and help
in resolving the country’s economic crisis, Mrs. Okonjo-Iweala 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 leave those managing the economy to do what they know how to
do.
“I served my country for seven years and it was a great honour.
The second time was very tough, but it was 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.”
On the continental scale, Mrs. Okonjo-Iweala, expressed regrets the
economic gains recorded in Africa have started being eroded in the last
two to three years.
“On the continent, we have seen a period when the economy was
doing relatively well. It’s only in the last two to three years that
things have started to go a bit south.”
Are You On youtube? subscribe to Hot GIST Channel Latest Updates - @Hot Gist
Are You On youtube? subscribe to Gospel World (which is also owned by Tony Gists) youtube Channel Latest Updates - @Gospel world
Are you on audio mack? Follow Tonygists on audio mack to listen and download to the latest Mfm sermons Latest Updates - @Tonygists
Follow Tonygists on LinkedIn to get more jobs opportunities Latest Updates - @Tonygists
Are You On youtube? subscribe to Honest Ose Channel Latest Updates - @Honest Ose
Are You On youtube? subscribe to Honest Web Solutions Channel Latest Updates - @Honest Web Solutions
Are You On youtube? subscribe to Xtremely Honest Channel Latest Updates - @Xtremely Honest
Are You On Twitter? Follow Us Now For Latest Updates - @tonygists
Are You On FACEBOOK? Like Our Page For Latest Updates - tonygists
Are You On FACEBOOK? Join Our Group For Latest Updates And Interactions - TonyGists
© 2024 Tonygists | Portions are © 2024 Associated Press. All rights reserved. This material may be published, broadcast, rewritten, or distributed.
