By Olusola Daniel
A critical look at the composition of the present cabinet of President Goodluck Jonathan may make one question the criteria used in selecting the persons for the different portfolios. Whilst majority of the officials have been dubbed as old guards whose reign in the federal ministries have been more like the same old story, few stand out in the midst of the pack. And, Dr (Mrs) Ngozi Okonjo-Iweala, the Coordinating Minister for the Economy, is one of those few.
Dr Okonjo-Iweala brings her suite of experience to the table as she is faced with, perhaps, the most challenging of her job functions till date – the Finance Minister of Africa's most populous nation and second largest economy in the continent. No doubt, her present calling is one that attracts global scrutiny and commentary. And coming at a time when Nigerians are more expressive about their demands from government, it is obvious she will be severally called upon to defend and justify the radical policies she is introducing into the Nigerian economic sphere. But with what we have seen so far, one can safely vouchsafe that she is capable and well positioned to handle the onerous tasks ahead.
As the Economic Adviser to President Olusegun Obasanjo in year 2000, Dr Okonjo-Iweala was charged with the responsibility of mapping a way for Nigeria out of its external debt, which was then US$30 billion. At that time, Nigeria paid US$1 billion to service this loan without any dent in the repayment of the actual loan. She was invited back to Nigeria in 2003 to head the Finance Ministry. Her most prominent achievement during her tenure as Minister from 2003-2006 was the cancellation of about 60% of Nigeria's external debt with the Paris Club, worth US$18 billion. It is only fair to say that Nigeria leveraged on Dr. Ngozi's goodwill with the international community to achieve the cancellation of the debt; coupled with her sound economic policies that were introduced at that time. Read More
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