No money to meet ASUU’s demands, saysOkonjo-IwealaThere ap-pears to be no end in sight to thelingering strike by the Academic Staff Union ofUniversities, ASUU, in the country as Minister ofFinance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala declared, yesterday, thatthe nation’s economy cannot accommodate thedemands of the lecturers for now. The minister spokewhile delivering her keynoteaddress at the opening ceremony of this year’sNational Council on Finance and Economic Development, NACOFED, in Minna, Niger State,yesterday. Okonjo-Iweala She said that if othersectors were to be adequatelyand urgently developed, less emphasis should beplaced on recurrent expenditure, especially salariesand allowances of workers. According to her, “at present, ASUU wantsgovernment to pay N92 billion in extra allowancesover and above their salaries. Though we are indiscussion with them, the problem is that theresources to take care of the demands are simplynot there.” She said that with the present situation in thecountry, Nigerians need to make a choice. She said:“People are supportive when there isagitation to increase salaries, pensions amongothers. “But on the other hand, people also turnaround to say the recurrent budget is too high and there is noway you can have it both ways and so we have tomake specific choices in this country.” Cause Okonjo-Iweala noted that the country was stillsuffering from the impact of the wage increase in2010, adding that by the time other demands are added, the recurrent budget will be getting higher,thus leaving virtually nothing for capital. She said:“Do we want to get to a stage whenvirtually all the monies and resources we earn arebeing used to pay salaries and allowances forpublic servants, who make up a minute percentage of the country’s population? “If we do, it means thatgovernment workers willtake up the entire budget of the country withnothing left for roads, water, education andothers.” She, therefore, challenged thecommissioners and other stakeholders to use the conference to findpermanent solutions to the lingering financialproblems in order to move the nation forward.Challenges The minister enumerated some of thechallengesfacing the country to include, over-dependence on oil revenues, the lopsidedness of the publicexpenditures, the budget formulation process andthe need to improve the actual public financialmanagement system. She, however, said that despitethese dauntingchallenges, there is progress in agriculture, housing and real estate, manufacturing and diversifying theeconomy away from oil and improving the non-oiltax revenue collection. Vice President Namadi Sambo,in his speech readon his behalf by Minister of Economic Planning, Dr.Shamsudeen Usman, said some of the reforms in public financial management already taken by thepresent administration had started yielding results.Reforms He said they include reducing recurrentexpenditure to sustainable levels, while increasingthe fiscal space for supporting capital projects anderadicating ghost workers, among others. Governor Babangida Aliyu of Niger State, who wasrepresented by his deputy, Alhaji Ahmed Ibeto,said that the country must gradually but surelysteer away from oil-dominated and global controlto a liberalised agro-based economy, wheregovernment and private entrepreneurs actively participate in economic activities. He urged theparticipants to use the forum toarticulate issues that are germane to the realisationof a deregulation of the downstream oil sector.Participants at the conference, with the themeRestructuring Nigeria’s Public Finances, comprised state finance commissioners and other relevantstakeholders.