Transcript of Amanpour's interview with Okonjo Iweala……CNN

AMANPOUR: Welcome back to the program. Africa’s most populous nation, Nigeria, is full of promise. But fulfilling that promise is sometimes a struggle. Plagued by corruption and mismanagement, the resource-rich country has a poverty rate of over 50 percent. Maternal mortality is shockingly high. And more than half of Nigerians don’t have access to electricity.

Nigeria’s president, Goodluck Jonathan, can’t even escape the power problem himself. Here he is on Easter Sunday, delivering a speech to his people only to have it disrupted by a blackout. Ngozi Okonjo-Iweala says that she and her president want more for the country. She’s Nigeria’s finance minister and she’s been lauded as just the kind of reformer that Nigeria needs. She was a runner-up to lead the World Bank and “Forbes” ranked her as one of the world’s most powerful women.

But even she isn’t immune from Nigeria’s problems. Her own mother was kidnapped for a terrifying five days before being released.

I spoke to her and I asked her about her country’s uphill struggle to transform Nigeria’s resources into a better life for all the people. We talked when she was here in New York for the Women in the World Summit. And as you watch, we look forward to your tweets using #amanpour.

(BEGIN VIDEO CLIP)

AMANPOUR: Dr. Okonjo-Iweala, welcome to the program.

NGOZI OKONJO-IWEALA, NIGERIAN FINANCE MINISTER: Thank you for having me.

AMANPOUR: Great to have you.

OKONJO-IWEALA: Thank you.

AMANPOUR: Nigeria is a huge and important country. We have many, many viewers from Nigeria, always very active and very interested. So it’s great to have you here.

OKONJO-IWEALA: Thank you.

AMANPOUR: You have said and others have said, that 2013 is going to be a real game-changing year, a turning point year for Nigeria, particularly in your area of finance and economics.

How?

OKONJO-IWEALA: Well, it’s going to be a game-changer and a turning point, because this is the year we are going to produce results. And we’re already producing results within the administration.

First, on the economic side, I just want to say that macroeconomic stability has been restored. Now, nobody should minimize that. Remember, there were two lost decades in Africa, in the ’80s and ’90s, where there was so much macro instability that people could not even focus on sectors that could create jobs.

Now things have gone right. We’ve got growth that is at 6.5 percent last year and we’re projecting for 2013, also, around the same number compared to average 5 percent on the African continent.

Now, I just want to say that when you mention GDP growth, people immediately say we can — in my country, they say we can’t eat growth; because we have unemployment challenges, we need to create more jobs. We have a challenge of inclusion. We have problems of inequality.

All those are challenges we face.

AMANPOUR: You are obviously a passionate defender of your country. You are a person who calls for transparency and honesty and best practices.

There is a huge problem with corruption in your country. The president promised to address this stuff. And the latest is that an ally of his, a former governor who was convicted of stealing millions of dollars, has been pardoned, embezzling $55 million in public funds.

Now, the U.S. calls that a setback for the fight against corruption.

I mean how do you answer that?

OKONJO-IWEALA: How do I answer that question?

OK, listen to what I have to say on corruption. And I think I have quite a bit to say. I wrote a book recently where I also had a whole chapter on that issue called, “Reforming the Unreformable.”

Nigeria does have a problem with corruption. And so do many other countries, including developed countries. I don’t like the fact that when people mention the name Nigeria, the next thing they say is corruption.

This is a country of 170 million people; 99.9 percent of them are honest, hard-working citizens who just want to get on with their lives and they want a government that delivers for them.

What we’ve said is that in order to help block any leakages and help to, you know, stop any attempts at corruption or taking monies, we must build electronic platforms. We must distance people from the money.

These things were recommended by the World Bank and the IMF. I used to work at the World Bank. We are doing them.

And I strongly believe that we lack institutions. We lack processes.

Now, what President Goodluck Jonathan has done now is to call the judiciary, the legislature and the executive arm for the first time to meet together on this issue and say, this is not just about government, this is about all of us coming together, because even if you catch somebody, they go to the courts and they are let off lightly.

The president can’t do anything about that. The judicial system also has to be strengthened.

Legislators also have to crack down. They themselves have to work at also being transparent and helping the executive.

But for me, also, in addition to doing that, we need to stop talking and identify the specifics, like you mentioned oil leakages. Let me mention two things quickly.

The first one is the oil theft that is 150,000 barrels a day —

AMANPOUR: Which is huge.

OKONJO-IWEALA: — a month — which is huge. Yes. I admit that. And we can’t afford — I’ll tell you; my thesis on corruption is we are still a poor country. We cannot afford any leakage.

We also need the international community to weigh in. We have — Mexico and Nigeria are suffering from this problem, you can check. Mexico has (inaudible) losing 25,000 barrels a day. And they found (inaudible).

In our case, we have international people who also buy that stolen oil. We need them to treat this stolen oil like stolen diamonds, the blood diamonds. Make it blood oil. Help us so that those people don’t have a market to sell this stuff.

That’s one. And we ourselves should commit to fighting — and we are fighting that.

AMANPOUR: Let me ask you about that, because you also have challenges with electricity. You mentioned you’re very rich in oil and people just simply don’t understand why there still seem to be so many problems with electricity.

And it might seem, you know, weird to pick on that one thing, but it is very prevalent. I asked your president about this during an interview I did by satellite when he was at the World Economic Forum in Davos.

Let’s just see what he had to say to me.

(BEGIN VIDEO CLIP)

GOODLUCK JONATHAN, PREISDENT OF NIGERIA: That is one area that Nigerians are quite pleased with the government, that’s a commitment to improve power. It’s working. So if you are saying something different, I’m really surprised. That is one area, one area that we will — civil society members agree that government has kept faith with its promise.

(END VIDEO CLIP)

AMANPOUR: Now, that interview caused a bit of a hullabaloo, as I think you know, in Nigeria. And yet, the World Bank has said that half — more than half the Nigerian population doesn’t have any access to the power grid.

OKONJO-IWEALA: As you know, Nigeria became a democracy again when President Obasanjo came into power in 1999. Two decades prior to that, there was hardly any investment in electricity.

If you’ve neglected a sector for that long, you’ve not invested, you’ve not even maintained your basic facilities, it’s not going to happen that fast. It takes time.

That month, when you interviewed the president, the polls showed, independently, scientifically (inaudible) that they are in technical partnership with dialogue. That 54 percent of Nigerians felt there was some improvement. They do it monthly.

Now this month, they’ve surveyed and they’ve showed this going down, because 800 megawatts has been taken off the grid, which is while they are maintaining the grid.

AMANPOUR: Well, let me ask you, because businesses apparently say that this problem with electricity is causing them to, you know, be reluctant to invest.

(CROSSTALK)

AMANPOUR: They need this investment…

OKONJO-IWEALA: Nigeria is not the only country. Almost every developing country has a problem with power, as you know. India has it. South Africa has it. South Africa is far better off because they’ve invested much more.

But many developing countries, even China, they are struggling with keeping up with infrastructure.

Now, what we are doing in Nigeria?

We have accepted that the government is not the best place to run the power sector, that if we want this country and this economy to do better, we just have to get out. And Nigeria is pursuing one of the most sweeping privatization programs in any country in the world.

We are selling off everything. The generation capacity, the distribution capacity in the country, government is only retaining one thing — transmission.

AMANPOUR: Well, on that note, Madam Minister, thank you for joining me.

OKONJO-IWEALA: Thank you, Christiane, for having me.

(END VIDEO CLIP)

 

TO WATCH: http://edition.cnn.com/video/#/video/international/2013/04/05/amanpour-gun-laws-connecticut.cnn

7 Comments

  1. i noticed that d minister avoided the alameisegha pardon and was going way off point,well i was not suprised…corruption is our main dilema even the minister herself is not exempted..past governments have spent billions o dollars in d power sector yet nothing to show for it….i just feel that dis present government is a toothless bull dog spear headed by a grey hound mr president….

  2. It is rather unfortunate that an individual like mrs okonjo would face Amanpour and be dilly dally, this is because the know they have failed and each time they are put on the spot they are caught napping.She did not do better than her boss this is because the subject matter is the same subject matter. Too bad we still have along way to go.

    If all of us have agreed that corruption has brought us here so why is it so difficult to tackle.

    We need capital punishment for corruption is the answer.

  3. As far as our President’s pronouncement on Power is concerned, he is not right, because I think he is been fed with the wrong information, he should ask Nigerians if Power has improved not rely on information given him by his special advisers. He must device a way to cross check his advisers, because I know very well that Power supply has not improved at all, considering the fact that one needs to buy and fuel some generator no matter what, and then pay also electricity bills when you have power. The cost is heavy on the masses compared to their earning capacity. Government has plenty of work, research and analysis to do.

  4. Madam spoke well, eloquently and intelligently, but I expected her to truthfully accept the fact that Government is top heavy, the cost of Democracy and running government is extremely and unusually high in Nigeria. Corruption and Crude Oil theft also. Overall I score her 7 over 10.

  5. All what madam said is propaganda.She could have said otherwise. From what we hear they said madam is a good economist which we agree to but nigerians are lacking. Herself, president and the rest at the country’s helm of affairs should turn round the economy of this country. We tired of long and big grammers.We need jobs,food,shelter and all good things of life.

  6. Beautiful round triping, dancing about all d questions & not addressing any directly. Its d mess we got ourselves into with dis present group of leaders. No definite road map, no ideas as to what next to do. SMH

  7. Madam Okonjo was really diplomatic with her response, which tells me she is either trying to keep her seat on this Govt or she is plating safe either way. She just delfected the real important questions and for the ones she answerd? She distorted the facts which is to be expected.

    Madam NOI didn’t do herself any favours with this interview in my opinion

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