Ngozi Okonjo-Iweala, former minister of finance, says her statement blaming the lack of political will to save funds under the administration of former President Goodluck Jonathan has been taken out of context.
Speaking on the Chilean saving example at the George Washington University on Thursday, the former minister had said “zero political will to save in the last administration” was responsible for some of the challenges facing the country.
But in a statement issued on Friday, Paul Nwabuikwu, media aide of the two-time minister, said Okonjo-Iweala was referring to the opposition of some governors to the efforts of the immediate past administration to save in the excess crude account (ECA) and in sovereign wealth fund (SWF).
“Some recent media reports have distorted comments made by former Finance Minister Dr Ngozi Okonjo-Iweala regarding how lack of political will negatively impacted national savings over the past few years,” the statement read.
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“Contrary to the slant given by these loud headlines, Dr Okonjo-Iweala did not indict the Jonathan administration in which she served.
“Rather, she was referring to what many Nigerians already know: the strong opposition by some governors to the Jonathan government’s efforts to save in the excess crude account and the sovereign wealth fund sabotaged this important national priority.
“The governors’ criticism of Dr Okonjo-Iweala’s many calls for the country to save for the rainy day is still fresh in the minds of Nigerians.
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“It will be recalled that this opposition culminated in the governors taking the Jonathan government to the supreme court in furtherance of their position that the federal government had no right to ‘compel’ them to save.
“Several knowledgeable persons including former Anambra State Governor, Mr Peter Obi have confirmed these facts. So the issue of Okonjo-Iweala indicting the Jonathan administration over this very public issue simply does not arise.”
13 comments
what happen to our common wealth(naija) All this back and forth is no good to the people they people need their money pure and simple when will we realize that want comes with strive in the majority
Madam, I remember vividly, governors were not convinced saving won’t be diverted by FG.
But the govornors didn’t save, because the faction lead by Ameachi, which was the most vocal, wanted to divert the money for running elections for Bubu!
But you were able to save during obasanjo’s regime despite the governor’s clamouring to spend the nation’s reserve. What changed during GEJ’s regime is inability or lack of political will by GEJ to say no like his predecessor. Either way his regime is held responsible for the nation’s predicament.
Why did she not save from the Fg’s share of the federation account? or is savings only possible when the money has not been shared? The governors’ resistance to saving stemmed principally from the discovery that NOI and GEJ were withdrawing money from the excess crude account with recourse to state governors or the national assembly.
The Governors didn’t go to the Supreme Court to compel Obasanjo to share the money to him, neither was Obasanjo compelled by the Supreme Court to share the savings. So, the issue of political will by Jonathan or Obasanjo doesn’t arise. Are you suggesting Jonathan should have told the Supreme Court to go to hell, thereby committing a serious breach against the constitution, which he swore to protect, and an impeachment offence?
Tolu, would you suppose GEJ to over turn court ruling? That’ll have made him a notorious dictator and you people would have called for his impeachment. Any which way, opposition would have had their way with the blind support of Nigerians. They would have appeared as saints and still blaming him now for it as they are doing. Nigerians need to be wise, objective and constructive at criticism so we don’t ke
Madam you spoke the truth. I have always believed you are honourable woman. GEJ was too kind hearted to rule this country, Can any Governor do that in the Buhari Administration.
@ tolu: was obasanjo taken to court? should gej have ignored court orders? or you think everyone must practice tyrany like we have today?
So how much did Goodluck Jonathan save on behalf of the Federal government which he led? ZERO kobo. Madam Okonjo-Iweala should swallow a bitter pill. The regime of GEJ under which she served was nothing but a KLEPTOCRACY where “stealing is not corruption.” PERIOD!
@Soni a lot of people will enter class without passing exams, how many times would you be reminded of how much the last administration left in reserve, how much did these state actors left? Learning most times is not friendly, try to learn, it will help your soul.
Thanks, but some people never learn because they have been brainwashed!
Having said much, frown your face close your eyes but the truth will still remains. The lack of political will is one thing, having confidence is another thing, the lost of confidence in the past administration had lead us so far,or why is possible during OBJ and fails during GEJ ? its is a pity that whenever there is issue like this sentiments, tribalism, nepotism and host of other blind fold our objectivity and collective sense of reasoning.God bless Nigeria.