The Minister of Finance has been doing a lot more of speeches these days as the economy continues to face a downward spiral. She was at a summit organised by the National Insurance Commission and had this to say to ‘naysayers’, critics, political opponents and perhaps anyone who thinks the Nigerian economy has been badly managed, in a bad shape and needs urgent resuscitation.
Here is what she said
Many of us, private companies and households are concerned about how the current economic challenges will affect them.
That is natural and legitimate. But we should avoid the kind of fear that will paralyse us or make us do the wrong things. Government is open to constructive criticism and ideas because we need to work together as a country to tackle these present challenges. But we should not let the merchants of fear, those who want to politicise and make political capital by distorting facts about the economy to succeed.”
“We have challenges but we also have strengths – a diversifying economy, increasing non-oil revenues from tax, a growing private sector and a mix of the right policies to help the economy grow sustainably,”
So basically, you are a merchant of fear if you pour heavy critics on the handlers of the economy because you’ve seen your portfolio lose 30% in two months and seen the value of your naira depreciate more than 15%. Worrying about seeing your other investment share a similar fate makes you a merchant of fear right?
Do you think the Minister seems to be giving more speeches than getting on with the urgent work of ensuring the economy is back on track?