Okonjo-Iweala Proffers Solutions To Nigeria’s Economic Crisis
Former Minister of Finance and coordinating minister of the economy, Ngozi Okonjo-Iweala, has proffered solutions to the current economic crisis facing the country.
Speaking on Aljazeera TV programme, AJStream on Monday, the former minister said 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 her, “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.
She says she remained optimistic that solutions to the country’s economic decline could still be found, stressing that she would prefer the current managers of the economy to talk about the solutions.
“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 whether she will be willing to work with the buhari government if called upon 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.”
She spoke about the job initiative of the Goodluck Jonathan government, YOU-WIN.
“The whole idea was to have a business plan competition. Beneficiaries were expected to create jobs to employ six people or more.
“Each created 9-10 jobs. The World Bank did an evaluation of it and found it good. I do believe 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,” she said.
On how the anti-corruption war was fought during her time in government, Mrs. Okonjo-Iweala described it as “a very tough fight”.
“It was tough. I must thank my team. You don’t do it alone. I had the support of an economic team in the Ministry of Finance. At the end of the day, you need to have some principles,” she said.