The Economist — the English newspaper that referred to Kemi Adeosun, Nigeria’s finance minister, as “poorly qualified” eight months ago — now says she is a “tenacious minister” fixing the country’s economy.
In November 2015, The Economist said Adeosun, who has over two decades of experience in financing and capital management, had only managed one of Nigeria’s smaller states.
“However, the new finance minister, an accountant who cleaned up the books of one of Nigeria’s smaller states, is poorly qualified for the job,” The Economist had said.
But in less than a year on her job, the paper now sees Adeosun as helping Nigeria get control of its earnings.
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“In an effort to fix this, a tenacious finance minister, Kemi Adeosun, has told skint governors that they must make their finances public before they receive a second federal bailout,” the newspaper said.
“She has struck thousands of ghost workers off the public payroll. Her ‘treasury single account’ (TSA) may be the biggest coup of all. It replaced a labyrinth of government piggy banks, giving Nigeria more control of its earnings.”
It added that financiers reckon that Nigeria’s TSA “could serve as a lesson to others in West Africa as well”.
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The Economist further explained how President Muhammadu Buhari has been fighting corruption in Africa’s largest economy.
“Mr Buhari’s government has been learning from other crusading countries, such as Georgia. But not everyone is impressed. His political opponents, who ruled Nigeria for 16 years until 2015, call the campaign a witch-hunt.
“There are reasons to doubt the capacity of the anti-corruption agency—and of the courts—to hold the powerful to account. The EFCC is yet to send down any of its most influential adversaries, though it is splurging on training for prosecutors.
“Under new management, the Nigerian National Petroleum Corporation has grown slightly less opaque: it now publishes monthly financial reports.”
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29 comments
Well done, Madam Minister, keep it up!
Your comment..’Kemi Adeosun is not only a pride to us at Ogun state but also a hard working and very honest minister.What actually did Nigeria gained from the so-called oyinbo Harvard trained economist in the past? -looted treasury,mansions all over the world and a poor economy under a weak Pdp leader.
Watch your words, Adeosun cannot be compared with the Harvard trained Economist and if you doubt i, then ask yourself why are the international world keep chasing her to take up one assignment or the other in repositioning global financial economy.
International world as you call it will also chase after Madam Adeosun as the ‘international world’ have already started seeing the good works she has been doing in ensuring the economy picks up – and we can see the fact with what madam Adeosun has been saying all this time since she got into office – fiscal discipline.
She served the purpose of the so called International World by facilitating the looting of Nigeria and structurally destroying the country’s economic foundations.
Harvard trained is not good for food. Performance speak volumes. She failed, QED.
We apprciate your efforts in managing Nigeria economic situation God power will continue to guard you in all your endeavors ride on my dear sister
Kemi Adeosun also schooled in London,so it’s not so much of where you school,but how you school yourself.Bill Gates and the rest all finished with poor grades,but are super business men today…So it’s called delivering on opportunities.
Wow! Wow! For The Economist to eat back it’s words, meeeehn you know that Madam Adeosun is really doing a great job. I’m hopeful more Nigerians will become objective and see that she means well for our dear country and is doing her utmost best to put things in order. The ends truly justifies the means! Keep up the good work honourable Minister.
The lesson from the Economist u-turn in less than a year is that with right attitude and honesty, Nigeria can make it economically without IMF and world Bank elixir. Adeosun is setting record that home grown economic policy is most suitable for us. Keep it, “Oduduwa” daughter
She is one focused minister who will give her all for a better Nigeria. As long as what she ‘preaches’ – Diversification, Investment and Discipline (fiscal discipline) is being taken and put into practice, just watch and see how things in the economy will turn around for the better.
Good job Kemi Adeosun, now its time for we Nigerians to also support her effort and start doing as she advised. Lets patronize in Nigeria, lets be Disciplined in our spending, Let be accountable and transparent, lets invest in Nigeria and diversify from oil. Let’s encourage our brothers and sisters in diaspora to invest in our economy and stop investing elsewhere. Ministers and state governors should also take note and learn from this woman.
She has made womenfolks very proud.
Nigeria is going to be great again with the help of our young and amiable finance minister.
Thank God the Economist has eaten their hatred comments on an innocent child whose only offense was stopping the looting spree to the British Banks.
Nigerian media should be more tenacious in their reportage and learn to be independent minded to know that The Economist too accept brown envelopes to slant news and swing opinions to suit certain objectives. Mrs Adeosun has shown the partway for our Citizens to emulate and God Almighty shall always Bless the Womb that gave birth to the Minister of Finance.
Ceetainly the finance minister deserves kudos. It’s troubling though that out of a population of over 170 millions we can’t find 36 able state finance ministers to emulate the industrious and dedicated federal minister. It is equally sad that our state governors have to be coaxed into exercising fiscal discipline, only because the mainstay of the economy (oil) is performing below par. Pitiful.
Indeed we mothers are truly proud of u Kemi Adeosun. May Allah continue to guide , protect and uphold ur team of God fearing Citzens as u continue to support ur great Daddy Mr President MB in actualizing his dream for a less corrupt & corruption FREE Nation. We are on our knees praying to God Almighty to expose & distroy any thieves in this regime now to serve as a deterrent to aspiring thieves who despite all the hard work you are doing. Still have their eyes on wanting to reverse d wheel.
this is why Nigerians need to be patient. we will get it right
I know she would make Nigerians proud. Her training as a chartered accountant and her numerous exposure in ICAN has made her fortified to surpass all projections by the public
Once our intentions are sincere,the goals are achievable.Welldone madam.
Good work madam.
Indeed, we are proud of you Kemi Adeosun, the minister you are weldone. You will make our country Nigeria great again, l believe we will soon overcome the problems triggered by the past government with your efforts, Nigerian needs to be more patience for better Nigeria.
Who say that Nigerians do not appreciate hardworking people ? Nay the Almighty God continues to protect this our Amazon. She will go to places.She will be great and impacts on her generation. She will become a role model to our women I am personally proud of Nigerian Amazons.
I believe we are on the path to greatness with the good works of the finance minister.diversification is key to resurrecting our battered economy.lets believe that in next to know time,we will get there.ride on ma
We are proud of you, ma.
There is need to be patient with ourselves and believe in ourselves. Nigeria is not a written off state neither are Nigerians pushovers when it comes to world stage. We need a concerted positive efforts to lift Nigeria up again from this state of recession. Many nations are in state of recession now just like Nigeria. These countries are looking for ways to come out also like Nigeria. We need to help our leaders to lead well but not through condemnation and hate utterances. God help Nigeria and Nigerians.
TSA has absolutely nothing to do with Adeosun but was the brainchild of Ngozi Okonho-Iweala, she was simply not given the mandate to implement it but in any case, the present regime is much more corrupt than the previous one- same people operating under a different disguise
why is Nigeria 5 steps behind?
With all sincerity, this is what we voted Buhari to do for us. All the accusation and bullying by the likes of Fayose, Fani Kayode and co will go in vain, and we will appreciate what honesty and integrity means in governance. A. Razaq Dikko
when a dollar is exchanging for 360N to a dollar. she proclaimed Nigeria is out of recession, Egypt laughed, replied Nigeria is still crawling inside recession. a bad economist manager she is.