Ngozi Okonjo-Iweala, outgoing minister of education and coordinating minister of the economy, says the allocations that state governors received from the federal government in the last four years is capable of taking care of their responsibilities, including payment of salaries. A total of 18 governors have been unable to pay civil servants, citing the deduction in allocation based on dwindling oil [...]
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Ngozi Okonjo-Iweala, co-ordinating minister for the economy and minister for finance, on Saturday stated that contrary to recent negative statements about the economy, the Jonathan administration “was leaving positive economic legacies behind which nobody could wish away because history cannot be rewritten." According to Okonjo-Iweala who was speaking with finance correspondent in Abuja, some of the legacies of the Jonathan administration [...]
The Nigeria governors’ forum (NGF) wants Ngozi Okonjo-Iweala, minister of finance and coordinating minister of the economy, to account for $20 billion being accruals of the excess crude account (ECA) from May 2013 till April 2015. Rotimi Amaechi, chairman of NGF, made the demand at the end of a four-hour meeting that held at the Transcorp Hilton Hotel, Abuja. “In the light of [...]
Ngozi Okonjo-Iweala, minister of finance and coordinating minister of the economy, has warned that oil prices are likely to stay low for a long time after falling more than 40 percent in the past year. Brent crude has fallen about 42 percent over the past year. Although it has increased 11 percent so far this year and is currently at around [...]
The federal government has taken steps to secure a $2 billion loan from the World Bank and the African Development Bank (AfDB) to assist in the implementation of its policies and programmes for the year. This was announced by Ngozi Okonjo-Iweala, coordinating minister for the economy and minister of finance, in an interactive session with journalists in Abuja. According to Okonjo-Iweala, the loan [...]
Representatives of the Chibok community on Wednesday met with Ngozi Okonjo-Iweala, coordinating minister for the economy and finance minister, expressing their gratitude to the government. The group conveyed the appreciation of the community to President Jonathan and the federal Government for standing by them, liberating their communities and putting in place structures for their re-construction and rehabilitation. They also joined other Nigerians [...]
Ngozi Okonjo-Iweala, minister of finance and coordinating minister of the economy, says she is ready to face advocacy group, Socio-Economic Rights and Accountability Project (SERAP), in court over alleged missing N30 trillion. SERAP had filed a suit against Okonjo-Iweala at a federal high court in Lagos, challenging her to account for the missing money – an allegation levelled by Chukwuma Soludo, former governor of [...]
Ngozi Okonjo-Iweala, coordinating minister of the economy and minister of finance, has assured Nigerians that the present scarcity of petrol will end soon. In a statement on Tuesday, the minister expressed the deep concern of the government about the fuel queues in Lagos, Abuja, and many other states of the federation. “As Nigerians can attest, the petroleum ministry and NNPC have worked very hard to reduce [...]
Cantor Fitzgerald, a global investment firm with strong expertise in asset backed mortgage securities is investing $1 billion (about N200 billion) in the Nigerian mortgage sector. The firm has also made arrangements to build 10,000 houses in Kaduna, Lagos, Enugu and Abuja within the next one year. Jack Heffernan, managing director of the firm's Debt Capital Markets division, signed a memorandum of [...]
Ngozi Okonjo-Iweala, the minister of finance, is of the opinion that corruption persists in the country because Nigeria lacks the institutions, systems and processes to prevent it. She made this statement on Tuesday while speaking at the Catholic Caritas Foundation Forum in Abuja. According to Okonjo-Iweala, the absence of relevant systems and institutions that will help check corruption has created opportunities for people to [...]
Nigeria has more than halved capital expenditure to less than 10 percent of 2015 spending, axing badly-needed infrastructure investment due to the collapse in the price of oil, the country's main source of revenue, according to the full budget submitted to parliament. Even though Nigeria's capital spending seldom materialises as planned, shelving projects such as port upgrades and roads will only [...]
Charles Soludo, a former governor of the Central Bank of Nigeria (CBN) and former Anambra state governorship aspirant, says his recent criticism of the economy under Ngozi Okonjo-Iweala, the minister of finance and coordinating minister of the economy, has brought about a change. Maintaining that he achieved his intended objective for opening cans of worm, Soludo expressed optimism that there would [...]
I read some of the responses to my article, “Buhari vs Jonathan: Beyond the Election”, and I want to thank everyone who has contributed to the debate. I am glad that the debate has finally taken off. I have decided, for the record, to re-enter the debate if only to set some records straight and hopefully elevate the debate further. [...]
The ministry of finance has described Charles Soludo, former Central Bank of Nigeria governor’s article in which he flayed the present government for the economic woes of the country as self-serving, deficit in fact, logic and honour. In the article published on Monday, Soludo berated the poor handling of the economy by the Goodluck Jonathan administration. Among the things he said was that the [...]
The federal government will not go back on the $65 per barrel oil benchmark upon which the 2015 budget is hinged, Ngozi Okonjo-Iweala, coordinating minister of the economy and minister of finance, said on Tuesday. In November, Okonjo-Iweala announced that the 2015 budget would be predicated on an oil benchmark of $65, explaining that the government had a scenario-based approach to managing the falling [...]
The 2015 appropriation bill has passed second reading at the senate. The bill on Wednesday was referred to the committee on finance and appropriation for further legislative scrutiny. In December, Ngozi Okonjo-Iweala, the minister of finance and coordinating minister of the economy, presented a budget of N4.357 trillion for 2015 before both houses of the national assembly. According to the budget, 2.616 trillion [...]
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