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Monday, 21 November 2016

Finance Minister, Adeosun Behind Nigeria’s Economic Woes

Nigerian Youth Entrepreneurship Forum for National Development (NYEFOND), has accused minister of finance, Kemi Adeosun of dragging the economy of the country backward.


A statement signed by the group’s secretary-general, Victor Nse, said the recent outbursts by the minister were reasons Nigeria’s economy is still in comatose.

The statement reads in full: “We have watched with dismay as the minister has tried, albeit in vain, to bring the current administration into disrepute, through her actions; most times, without even knowing it and, other times, so brazenly that it is difficult to know if she is intent on bringing down the government’s efforts or bent on seeing the government’s policies work.

“The minister has displayed great incompetence in handling the Nigerian economy, owing to her poor understanding of how things really work.

“So far, the minister has refused to heed the presidential directive to take action against directors in the ministry who were indicted in the ‘budget padding’ scandal. Rather, she has covered up for them and retained them within the ministry.

“Worse, she has refused to pay the salaries and entitlements of former head of states and displayed great inexperience and confusion in tackling issues relating to the recession.

“In the history of the Nigerian Civil Service, the minister was the first to be turned upon by the civil servants in the ministry, who demanded that she go, due to huge debts owed them.

“The minister has shamelessly and blatantly urged the Federal Government to borrow billions of dollars to salvage an economy which she described as “not really being in recession; recession is just a word,” thus mortgaging the future of our children and giving the next administration a huge bill of debt to pay.”

“How can we borrow to pay the salaries of our civil servants? When we want to construct rails and invest in the agricultural sector, what are we going to do, if we run to borrow billions of dollars just to pay salaries? The regularity of workers’ salaries has been lost since2014 and our foreign reserves have been depleted prodigally by the last regime and all a minister, in this era of change can tell us is that we are not in any form of trouble, but she can encourage the borrowing of billions of dollars?

“It is embarrassing, shameful and heart-breaking to watch a minister who is supposed to know better run around seemingly confused and without direction.

“Is this how she is helping to promote the policies of this government? Is this how she will help the country get out of the recession? Sadly, she is derailing the progress of the current administration, no thanks to her confusing statements and body languages,”

The group further advised the government to make a decision on whether it wants to keep her or do away with her.

“We, therefore, advise the Federal Government to make a decision on her continued stay as a minister, before she embarrasses the government and makes the nation a laughing stock before the world.”

Recently, former Special Assistant on new media to ex-President Goodluck, Reno Omokri, asked president Buhari to sack Adeosun as minister.

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4 comments :

  1. “Our plans haven’t changed. We need to stimulate the economy and we are going to do so largely by redirecting expenditure from recurrent into capital because we believe that capital expenditure will create jobs and create more productivity in the economy in the long run and help us to diversify,” she said.

    The Finance Minister noted that the solution to Nigeria’s problem has been the same and getting out of recession remains dependent on how productive the economy becomes as well as how well it can create jobs.

    “To do so, we’ve got to invest in our capital infrastructure,” she maintained.

    https://www.channelstv.com/2016/09/20/ending-recession-our-strategy-has-not-changed-adeosun/

    ReplyDelete
  2. The Minister of Finance, Mrs Kemi Adeosun gave details of the loan in Abuja on Thursday in a statement by her Special Adviser, Mr Festus Akanbi. It will be recalled that President Muhammadu Buhari on Tuesday forwarded a request to the National Assembly to approve external borrowing plan of 29.96 billion dollars to execute key infrastructure across the country between 2016 and 2018. Buhari said the borrowings will target projects across all sectors with special emphasis on infrastructure, agriculture, health, education, water supply, growth and employment generation. Other sectors, he said, included poverty reduction through social safety net programmes, governance and financial management reforms, among others.

    Read more at: http://www.vanguardngr.com/2016/10/fg-gives-breakdown-plans-29-96bn-loan/

    ReplyDelete
  3. I really wonder how informed this group is about the current situation. I would advise that they get their facts right on the Honorable Minister of Finance. She has said "Our plans haven’t changed. We need to stimulate the economy and we are going to do so largely by redirecting expenditure from recurrent into capital because we believe that capital expenditure will create jobs and create more productivity in the economy in the long run and help us to diversify,”
    The Finance Minister has noted that the solution to Nigeria’s problem has been the same and getting out of recession remains dependent on how productive the economy becomes as well as how well it can create jobs.
    “To do so, we’ve got to invest in our capital infrastructure,” she maintained.
    See this link for more information and be informed
    https://www.channelstv.com/2016/09/20/ending-recession-our-strategy-has-not-changed-adeosun/

    ReplyDelete
  4. In the quest of the fantastic headlines, it would appear that payment of past head of states salaries and paying civil service fake bonuses is the corner piece of their own economic strategy. This should take us back to the old saying about listening to the mad man at the street corner.

    ReplyDelete

 
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