Finance Minister, Okonjo-Iweala tasks Buhari’s administration on economic stability policies

The Minister of Finance in Nigeria, Dr. Ngozi Okonjo-Iweala, has urged the incoming administration of General Muhammadu Buhari to focus of making policies that would build up macro economic stability.

Dr. Okonjo-Iweala, who spoke on Nigeria Beyond Oil at a session at the ongoing World Bank/IMF spring meeting in Washington DC, listed key areas she expected the administration to look at.

She stressed the need for the new administration that would take over on May 29 to focus on diversification of the economy, rebuilding buffers and blocking of leakages.

The Minister, however, said that the policies, if well implemented, would address the shortfall in the revenue gotten from crude oil sales and in the long term, end poverty in Nigeria.

Listing some of the measures taken by President Goodluck Jonathan’s administration to cushion the shortfall from oil resources, the Minister of Finance, gave further insight into what the incoming government could do to further save the economy.‎

Dr Okonjo-Iweala is optimistic that the approach, backed by strong institutions to check cases of corruption, could bring the country out of its economic challenges.

The meeting was however interactive as participants at the session raised questions bordering on insecurity, health and the education sector.

The Minister further asked Nigerians to hold the government at all levels accountable for lapses experienced in some of the sectors.

Credit: Channels