A New Face of Hope for our Dwindling Economy

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    I’m Back To Fix The Economy –
    Okonjo-Iweala •Unfolds Economic
    Agenda •Says, ‘I’ll Make Nigeria
    Less Dependent On Oil’
    Written by Femi Osinusi with Agency
    Saturday, 13 August 2011
    AS she rounded off as a managing director
    at the World Bank on Friday in Washington,
    to assume duty from next week for the
    second time as Minister of Finance,
    Professor Ngozi Okonjo-Iweala,
    has described Nigeria as a tough country.
    This notwithstanding, she said she could
    not be overwhelmed by the challenges on
    ground in the quest to put the nation’s
    economy on the path of recovery and
    Okonjo-Iweala, who was given a clean bill of
    health after screening by the Senate, said
    she was encouraged by patriotic zeal to
    return home and contribute to
    repositioning the economy.
    While her colleagues assumed duty last June,
    she had enjoyed a one-month grace of
    absence to enable her conclude the process
    of her disengagement from the
    Washington-based World Bank.
    An agency report quoted her as promising
    that her top priority as minister would be to
    develop and diversify the national economy
    such that Nigeria could be less dependent
    on oil and gas as its economic mainstay.
    Describing the task as her biggest challenge,
    Okonjo-Iweala said the economy required
    fundamental structuring so as to attract
    more investors.
    Okonjo-Iweala, has been a steady hand at
    the world’s largest development institution
    since 2007, where she has had unique
    insights into the growing role of developing
    nations in the global economy.
    Nigeria is one of Africa’s most dynamic
    economies but it has enormous problems,
    including an over-reliance on commodity
    exports, mismanagement, low investment
    and a history of powerful vested interests.
    “Nigeria has to make some fundamental
    changes, it has to really diversify its

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