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Economic Turnaround in Nigeria

Saving her sister during the civil war taught Okonjo-Iweala, the Nigerian Finance minister, not giving up. And her motto “however | whatever | no matter | how ……… tough the situation, you must figure out a solution” is behind many of her achievements.

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Saving her sister during the civil war taught Okonjo-Iweala, the Nigerian Finance minister, not giving up. And her motto __________ tough the situation, you must figure out a solution” is behind many of her achievements.
Since her expertise is finance, her most important achievement is that she managed to get the debt reduced from $30 billion __________ to $12 billion in her first term. That was something that has given Nigeria unprecedented room for fiscal manoeuvre.
Economy is now stabilized, but till then it was dependent on oil __________. When they were high, country spent everything and when they were low, they sometimes could not meet its bills.
Solving this enabled the government to build a stable platform __________ which the economy can now develop and thus the country has achieved macroeconomic stability.
Now Nigeria is one of the ten fastest growing countries in the world, not only thanks __________ the reformation of economy, but of agriculture too.
The primary aim was changing the mentality of the small farmers and changing the tools they had starting from __________ to good seeds and inputs, to improved production, to marketing, to transformation.
Nevertheless, the government still need to undertake some microeconomic reforms in doing business. Banking __________ is not quite meeting the needs of small and medium enterprises yet, for they need better access to finance.
The country has a problem with unemployment, so they need such quality of __________ growth that would enable them to create jobs for young people and that’s where the small businesses come.
That’s why the government need to solve their problems of access to finance. So far, they created a program that helps young entrepreneurs to really __________ their enterprise through a business planning competition.
They get a grant of $10,000 to $90,000 if they win, and create hundreds of jobs. That’s real work they have to do, but Okonjo-Iweala __________ optimistic about the future and sees Nigeria by 2020 being among the top 20 economies in the world.

 

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