related Okonjo-Iweala explains her comment on the last administration lacking the political will to save money

Okonjo-Iweala explains her comment on the last administration lacking the political will to save money

Two days ago, a video of former Finance Minister Dr. Ngozi Okonjo-Iweala surfaced online when she spoke at the George Washington University.

In the video, Okonjo-Iweala said that Nigeria is currently in Economic hardship because the last administration lacked the political willpower to save some money.





Some media reported that she was referring to Goodluck Jonathan administration. However, the former finance minister  says she meant that some state governors and the former President lacked zero political power to save money when she served as Minister of Finance in the last administration.

In a statement released by her media aide, Paul Nwabuikwu, the former Minister said her statement was taken out of context. According to her, some state governors and not former President Jonathan, were against saving some money 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. 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'' the statement read


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