journalists in the state recently where he spoke on various
burning national issues. Of note was the alleged
mismanagement of Nigeria's economy by Dr. Ngozi Okonjo
Iweala.
"It is rather unfortunate that we have this attitude of
trying to pull down our best. Dr. Ngozi Okonjo- Iweala
is a global star and only came back to serve her
country and she did that with passion. We gain
nothing trying to pull her down. We did it with
Arunma Otteh, but we know what she is today. I
have been in several meetings where this woman
(Dr. Ngozi Okonjo-Iweala) was almost crying as she
explained and pleaded with all and sundry on the
need to save for the rainy day.
She advised that proceeds from excess crude sales
should be saved in the Sovereign National Wealth
Fund for effective management. I have read
newspaper reports that it is ironic that she spoke of
a rainy day when it was already pouring. I personally
remain indebted to her because it was from her
persistent preaching on the need to save in the
Sovereign National Wealth Fund that made me
incorporate savings in foreign currency – that is why
one third of the money we left on leaving office was
in foreign currency, $156 million(N25 billion at that
time).
With interest now it would be about $170 million and
with the current rate it is almost N40 billion. My
position in all this is that we must cultivate the
attitude of saving as a country. Excess crude money
should be saved in the Sovereign Wealth Fund. No
country will survive without saving for the future.
Even in animal kingdom, the ants save for the rainy
day. We must save bearing in mind that natural
resources that we enjoy today are depleting assets."
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