Business 'Sanusi, Okonjo-Iweala Responsible for Nigeria's Current Economic Woes, Not Oil Price Slump'

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LequteMan

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Nigeria- According to financial experts the present economic woes bedeviling the country cannot be blamed on the current fall in global oil prices but on the Minister of Finance and the past governor of the Central Bank of Nigeria, Sanusi Lamido, who they say are devoid of monetary and fiscal policy coordination in the last four years.

They equally said that the crude oil budget benchmark of $73 for 2015 budget is too optimistic on the part of government. Vanguard Reports.

Excerpt:

Economists, private sector operators and bankers have concluded that the present economic woes bedeviling the country cannot be attributed to the current crash in oil prices but to the lack of monetary and fiscal policy coordination in the last four years.

Managing Director/Chief Executive Officer of Asset Management Corporation of Nigeria, AMCON, Mr. Mustafa Chike Obi said that the toughening economic situation in Nigeria is not only as a result of falling crude oil prices but also a combination of factors, especially some misguided monetary and fiscal policies in the last four years.

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