Minister of Finance, Ngozi Okonjo–Iweala Assures Nigeria Is Not Broke


Okonjo-Iweala1-547x320Minister of Finance, Ngozi Okonjo–Iweala, has assured Nigerians that the economy is growing positively in spite of the reduction of oil price in the international market. Okonjo-Iweala, who stated this on Tuesday at the 2014 Ministerial Platform in Abuja, said the nation was not broke as being speculated in the media. She said “if you look back two years ago, that title “is Nigeria broke” was written in a newspaper article, it is like people are trying to force Nigeria into brokerage. “I think since two years, we have managed to keep things going, let me explain these; Nigeria is a country that depends on a stream of income. “That income is being able to collect taxes from companies, individuals and our income is also based on selling a product and that product you take to market and you take whatever price a buyer is willing to pay.’’According to her, government is doing everything within its power to ensure economic stability in the country. She said that presently, government had been budgeting below the existing oil price to help build buffers in case of uncertainty. “We are operating an economy that depends on a product that fluctuates with oil price and we don’t have the right to control the price.  SEE MORE ON PAGE 2

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