Dr. Ngozi Okonjo-Iweala, former minister of finance, has warned her successor of a “tough year” .
According to the ex-minister, anyone who assumes her former position will face a “difficult” year because of plunging oil revenues, The Nation reports.
She stressed that the economy needs expert management to survive the difficulties.
“We have a serious situation with a cash crunch”, she told Bloomberg in an interview in Cape Town at the World Economic Forum on Africa.
“But fundamentally, the economy is strong. If we can get through the cash crunch, manage the way through, build on some of the assets we have, by next year, things will be better.
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| Nigeria’s ex-finance minister, Dr. Mrs. Ngozi Okonjo-Iweala |
“The next finance minister needs to focus on a strong policy, the fiscal consolidation path that we have and looking toward diversification of revenue resources.
“We are all waiting for the new finance minister to be named.
“Nigeria is full of talented people so they will find someone”, she added.
She revealed that she plans to take a break until August and will then consider her career options.
Okonjo-Iweala, a former managing director of the World Bank, was finance minister under Goodluck Jonathan from 2011. She recently said she has ‘no reason to fear’ President Buhari.
President Muhammadu Buhari, who was sworn into office last week, is yet to appoint his cabinet.
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