Previous Minister of Finance, Ngozi Okonjo-Iweala, yesterday said that there was no political will to spare Nigeria's assets under the Goodluck Jonathan organization. Okonjo-Iweala who said this while talking on "imbalance, development and strength," at George Washington University, said Nigeria could spare $22 billion under previous President Olusegun Obasanjo, which spared the nation in 2008, from worldwide monetary emergency.
"We attempted it in Nigeria, we put in an oil cost based financial standard in 2004 and it worked extremely wells. We spared $22
billion in light of the fact that the political will to do it was there. Furthermore, when the 2008/2009 emergency came, we could draw on those reserve funds exactly to issue around a 5 for every penny of GDP financial jolt to the economy and we never needed to go to the bank or the asset. This time around and this is the key now, you require to have the instrument as well as need the political will. In my second time as a fund pastor, from 2011 to 2015, we had the instrument, we had the methods, we had done it some time recently, however zero political will. So we were not ready to spare when we ought to have. That is the reason you find that Nigeria is presently in the circumstance it is in. Alongside such a variety of other countries."he said
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