FORMER Managing Director of World Bank, Dr. Ngozi Okonjo-Iweala, yesterday took her oath of office and allegiance as the Co-ordinating Minister for the Economy and Minister of Finance.
President Goodluck Jonathan, who presided over the oath-taking, also announced the reconstitution of the Economic Management Team (EMT).
While the President will be the Chairman and Vice President Namadi Sambo the Vice Chairman, Jonathan announced Mrs. Okonjo-Iweala as the Co-ordinator of the EMT.
Other members of the 24-member EMT include two serving Governors — Peter Obi of Anambra State (Honorary Presidential Adviser on Finance) and Murtala Nyako of Adamawa (Honorary Presidential Adviser to President on Agriculture), the Ministers of National Planning, Trade and Investment, Power, Petroleum Resources, Agriculture, Works, Education, Health, State for Finance and Health.
Also on the list are the Governor of Central Bank of Nigeria (CBN), the President's Chief Economic Adviser, Special Adviser on Performance, Monitoring and Evaluation, Directors-General of Budget, Debt Management Office, Bureau for Public Enterprises, Infrastructure Concession and Regulatory Commission as well as the President of the Nigerian Economic Society (Honorary Adviser on Economy) and Mr. Atede Peterside.
President Jonathan thanked Dr. Okonjo-Iweala "for accepting to come and serve because considering the position you were holding at the foremost World Bank, it is difficult for you to come back to serve as minister in a country. And I am saying this with all sense of pride because when your name was made known and it entered the media, anywhere I go, Heads of State and Government were wondering why you would even agree to come. And they were appreciative of me especially the African presidents that I did well to pull you back home to help solve the African problem because they know your worth at the World Bank.
"People wonder why we want her back. We want her back not just to manage the Ministry of Finance but we are opportuned to have her as somebody who is quite vast in economic issues and we want her back to play a key role in economic issues in the country. Of course, you also know that in the immediate past, she also introduced the idea of Economic Management Team during President Obasanjo's time and we followed up, the late President Yar'Adua and myself.
"This time around, we are expanding the Economic Team because we believe the country is one. Yes, the states have their own economies but if there is no proper co-ordination in the management of the economy between the Federal Government and the states, we cannot go anywhere as a nation. Ngozi is brought in to co-ordinate all economic activities of the Federal Government and of course by extension help the states."
President Jonathan formerly announced that Dr. Okonjo-Iweala "has accepted to serve just like any other minister and indeed others who came from the Diaspora have not asked us for a dollar salary. They are going to receive salary and allowances like others in the cabinet. They are coming to serve the country and are not coming because of their personal aggrandisement."
The President told the new minister that "for you, the expectation, not just for Nigeria, the whole world is quite high. People expect so much from you. Some people feel you have the magic wand. You wave it, everything will change. But I believe with your level of experience and with the support we will give you, and of course cooperation of your colleagues, all of you collectively will help to change our own country, you will help to work to make sure that our transformation agenda moves smoothly and gets to the destination expected."
Jonathan said that from the first week of September, all the federal ministries would deliver comprehensive briefings "on where we are and where we want to go. We are quite hopeful that we have the team of ministers that are really ready to transform... They have the spirit, the willingness to work hard to change our country. I think I would be one of the luckiest presidents that would have this kind of cabinet."
The EMT will be sworn in today.
The Guardian