Nigeria Is Not Broke, We still Pay Salaries –Okonjo-Iweala

Posted by African Examiner Featured, Latest Headlines Friday, October 24th, 2014

Oyewale Oyelola

The Coordinating Minister of Nigeria Economy and Finance Minister, Dr. Ngozi Okonjo-Iweala has said Nigeria is not despite decline in oil revenue.

The Finance Minister stated this on Friday during the Ministerial press briefing in Abuja.

Dr. Ngozi Okonjo-Iweala admitted the nation economy is currently experiencing little challenges due to decline in oil revenue, which is the major source of Nigeria revenue.

She said: “As a nation we are experiencing challenges in our revenue due to decline in oil revenue but Nigeria is not broke. Government still generates revenue from taxes and other sources.

“Sometimes you experience up and down in business, this is similar to our current experience. We still pay workers’ salaries and implement project. So its not appropriate to say this country is broke”

She added that diversification will increase sources of revenue for government, thereby shifting focus from other revenue.

Okonjo-Iweala called on all stakeholders; especially state government to show more understanding in this trying time.