Okonjo-Iweala is lying about the economy – Amaechi

The Rivers  State Governor and the Chairman of Nigeria Governors' Forum, Mr. Rotimi Amaechi, on Thursday, said that the Minister of Finance and the Coordinating  minister for the Economy,  Dr. Ngozi Okonjo-Iweala has been deceiving Nigerians on the actual state of the country's economy.

At an event organised for future leaders by Rotary International, District 9140 in Port Harcourt, Rivers State, Amaechi declared that contrary to the healthy state of the economy as posited by Okonjo-Iweala on Wednesday, Nigeria was battling to survive economically.

Amaechi said that 'in 1970, the poverty rate in Nigeria was 30 per cent. How many of you know the poverty rate now? I was in a meeting where I said it was 70 per cent; the Minister of Finance said it was 68 per  cent. What's the difference between 68 and 70?

'We are giving you a nation that is in a state of coma; that is what we are handing over to you. If it is a nation that is progressing  from 30 per cent in 1970, we should be talking about 15 per cent now.'

Amaechi further queried the state of the economy saying, 'how strong is an economy that cannot fund its statutory state governments' federal allocation?'

'As of now, we (Rivers) have yet to receive in full the federal allocation for July. Our entitlement as Rivers State Government in July was N19bn. They have paid us only N14bn. The Central Bank of Nigeria published receipt of N1.05 tn in July; so, why did they say that there is no money? If we receive N1.05tn by July, why are they saying there is no money?

Amaechi also stated that 'We (NGF) asked the Minister of Finance to resign if she is not able to manage the economy and she replied that 'I dey kampe'.

When contacted on the issue, Okonjo-Iweala insisted that the Nigerian economy remained strong.

In a response through her Special Adviser on Communications, Mr Paul Nwabuikwu,  she  said, 'In spite of challenges such as the recent revenue shortfall, this country is paying her bills, financing roads, rail, power and other critical infrastructure and even saving for the rainy day.

'So the position that the economy is in dire straits is simply not supported by available evidence.

'We are happy that Nigerians are generally supportive of the efforts of the government to strengthen the economy and improve their welfare.' - Punch.