LOW SAVINGS: OKONJO-IWEALA DID NOT INDICT THE JONATHAN ADMINISTRATION

LOW SAVINGS: OKONJO-IWEALA DID NOT INDICT THE JONATHAN ADMINISTRATION

News Release. Abuja, April 15, 2016

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.

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 are still fresh in the minds of Nigerians.

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.

We urge the media to always consult for clarification whenever the need arises.

Paul C Nwabuikwu

Media Adviser to Dr Okonjo-Iweala