ZION B-BC NEWSLETTER. [ A Publication of the Zion Faith Bible-Believing Church, Kpeyegyi, Abuja Nigeria. ] { VOL. 2. NO 68. 30-11-14.} “…ONLY The Truth, Will Set You Free! (John.8:32). NGOZI IWEALLA’S ERMINE COAT MUST REMAIN PURE AND SPOTLESS! “Be not deceived; evil communications corrupt good manners. Awake to righteousness and sin not, for some have not the knowledge of God…” [1Corinthians.15:33-34]. The WORD also says, “Know ye not, that to whom ye yield yourselves servants to obey, his servants ye are to whom ye obey; whether of sin unto death or of obedience unto righteousness?”[Romans. 6:16]. * Ngozi is one personality that we of this editorial board had watched very closely and with keen interest since she dabbled into accepting political appointment in 2003, because of her impeccable family and intellectual pedigree. Prior to her ministerial job as Minister of Finance, Ngozi who we perceive, dons a spotless ERMINE FUR COAT, was Vice President and Corporate Secretary of the World Bank Group, but left that plum job as a die-hard patriot, but her patriotic zeal is now being soiled in her second appointment since 2011! *THE ERMINE, a little animal which roams the forest of Asia, is inordinately proud of his beautiful snowy coat and not lose it to poachers – even at the point of death. The Ermine’s fur is the most beautiful to be found in all the markets of the world and is worn as Judges Robes, and also, society and distinguished leaders. *To acquire this most cherished and quality fur, the poachers always played dirty with the proud little animal by SMEARING the entrance of its hole in the trunk of trees or in the rocks, with very dirty mud and bad smelling mixtures and then pursue the poor animal towards its hole where it would with sharp instinct turn back and face death instead of smearing its lovely snowy fur coat! *Signs and lying wonders have taken over the centre stage of Nigeria’s economic landscape since global crude oil price plummeted downwards! *On the 20 of October, 2014, at a Ministerial Platform following the Media’s first exposure that Nigeria was broke because of its dwindling revenue from the only mono-product, the Minister of Finance and Coordinating Minister for the economy Ngozi Iwealla, affirmed that Nigeria’s economy was growing positively in spite of the reduction of the oil price in the international market! In the last three months, (September-November), oil price crashed from $100 US Dollars to about $73.5, per barrel and there is global glut which has forced Saudi Arabia – a leading oil producer -to desperately search for buyers because of declining revenue from crude oil precipitated through organized campaigns against gas emissions, atmospheric pollution and market saturation! Many advanced nations are shifting from crude oil to embrace alternative renewable and sustainable energy sources! *The Minister swallowed her pride on the 25 November, 2014 and consequently announced that Nigeria was actually broke and that stringent monetary measures would be embarked on to save the economy. *Shortly after, Central Bank of Nigeria’s Committee on Devaluation and Raising of Key Rates, devalued the Naira currency to an all-time low against the Dollar at N155 -N168. The policy decisions, the Committee said, were meant to save the economy from a precarious situation of a sliding naira and excess banking sector liquidity. The Committee also said that several factors contributed to the pressure on the Naira – the most important of which was, “the declining revenue from crude oil,” adding, “our source of revenue in this country’s just oil and when oil price declined by about 25per cent in the last one month, we expected there would be pressure on the foreign reserves…… bank loans move away from the productive sectors of the economy to importers of consumable goods which is counter- productive to the economy.” *The Committee then advised Nigerians to patronize locally-made goods and services because importation of foreign consumable goods put pressure on the Naira.” *Why should Nigeria, blessed with the MONEY-SPINNING NATURAL CRUDE OIL IN 46 YEARS SUDDENLY BECOME BROKE, considering the fact that this product has been its major mono-product economic foreign exchange earner? *Several factors have to be analyzed to establish the prevailing or remote reasons that could precipitate such a calamity because crude oil earnings should boost living conditions of the citizens and not ruin their lives! *The starting point should be for leaders to divinely submit to the Holy Spirit who would generate the LOVE AND FEAR OF GOD, in their hearts and also guide them with wisdom for righteous governance! *Second, appointments of effective Social, Security and Economic Management Teams to run ministries, departments and agencies; must be divinely handled and, *Third, leaders should establish a faithful, truthful and determined political will to fulfil the SOCIAL CONTRACT with citizens. *But it is most unfortunate that Nigeria’s score in all of the above is a very BIG ZERO because LYING LIPS hold sway in the country! *Do you know that America - Nigeria’s biggest crude oil customer - stopped purchasing our crude since 2013 because of government’s reckless assault on the common wealth and the deliberate neglect of the poor masses and massive acts of corruption with impunity as re-echoed this week by former President Olusegun Obasanjo – an authority on this subject, which escalated during his twin-tenure – 1999-2007? *Do you know that President Barak Obama avoided visiting Nigeria because of the politicians’ competitive and ravenous raid on the nation’s coffers coupled with the disdain for the RULE OF LAW by those in positions of authority? *Do you know that they, (United States), deliberately refused to support Nigeria in the fight against Boko Haram terrorists for all of the above reasons? *In view of this dilemma, Nigerians will now be forced to face the under-listed multiplier effects of economic challenges on the larger majority? (1)First, these citizens of 170million people, minus [TWO MILLION ELITIST GANG WHO MONOPOLIZE ALL IMPORTED CONSUMABLE GOODS] – would be forced to re-adjust to another era of AUSTERE LIVING CONDITIONS, worse than what obtains presently! *Would it surprise you that the Finance Minister, was quick to suggest that Nigerians should be ready to “tighten their belts” over the economic lapses of her insensitive government? *Presently, majority of the sprawling masses hardly made ‘two daily meals’ but from Tuesday, November, 25th, 2014, when the Minister reeled out some austerity measures, they may have it worse! *Citizens will pay more for goods and services, more on Personal Income Taxes, Value Added Taxes, Electricity Bills, Petroleum Products, (petrol, kerosene, diesel and lubricating oils etc.), Transportation, Drivers and Vehicle Plates Licences, National passports etc.! The office of the Finance Minister in every government institution is an exalted position, next to that of the President! It is no wonder therefore that Dr. Ngozi Okonjo Iwealla, was dubbed by the media as, the “Prime Minister” of Nigeria! Since fiscal accountability is the barometer that ensures the success of administrations, public or private, it is imperative that the most suitable and qualified candidate is appointed. Ngozi, a globally renowned economist, was first appointed to this post by former President Olusegun Obasanjo on 15 July, 2003, but resigned when re-assigned to the Ministry of Foreign Affairs, on 3 August 2006, under a very shrouded circumstance! During her first tenure, in October 2005, she led a the Nigerian team that struck a deal with the PARIS CLUB – a group of bilateral creditors to pay a portion of Nigeria’s External Debts of $12 billion US Dollars, in return for an $18 Billion debt write off! Prior to this feat, Nigeria paid $1 Billion, annually fo service the debt! *She also introduced the practice of publishing each state’s monthly financial allocation from the Federal Government to ensure transparency and probity in government! There are so many other laudable achievements of this outstanding woman in government. The incumbent President re-appointed her in 2011 to fill the same portfolio and in the last three years has tried unsuccessfully to curb the financial recklessness of Jonathan’s administration which spends not less than 74 per cent of national budgets on recurrent expenditures and a paltry 26 per cent on capital projects that should impact more positively on the masses who are the most important key-players in revenue generation! *But this Amazon, who has a proven track record an impeccable character and an international reputation, has failed the Nigerian masses on her second advent by inventing economic figures to confuse the economic chaos that the country’s revenue scenario represents! An English idiom states: “You can fool some of the people for some of the time but you cannot fool all of the people, all of the time!” And the Word of God states: “Righteousness exalts a nation, but sin is a reproach to any people!” [Proverbs.14:34]. *In trying to fool Nigerians, at that Ministerial Platform on 20 October, 2014, Ngozi said government depended on a number of streams of incomes, like collection of taxes from companies, individuals and also marketing the crude oil at whatever price, a buyer was willing to pay adding that government was during everything to ensure stability in the economy by budgeting below the existing oil price to build buffers in case of uncertainty! However at the week-end she blamed “very powerful Governors” for the depleting figures of the “illegal” EXCESS CRUDE ACCOUNT, which they insisted must be shared to States, to augment their Internally Generated Revenues (IGRs). She also said that government was still able to pay salaries, because the economy was being diversified and the management of fiscal deficit was being kept as narrow as possible. Other information disclosed was that (1)… in 2013, Nigeria’s debt portfolio when compared to the Gross Domestic Product (GDP), ratio was 1.4 per cent and in 2014, 1.03 per cent but was being projected to be 1 per cent in the 2015 Budget; (2) borrowing had been on the decline and external debt stood at N1.46 trillion or 14 per cent of total debt; and (3) …that Nigeria’s debt to GDP, remained one of the lowest in the world because of prudency to debt management! ALL OF THE ABOVE WERE SAID 40 DAYS AGO AND AS TODAY 30 NOVEMBER 2014, IT IS A NEW TALE BECAUSE POWERFUL GOVERNORS NOW CONTROL THE FEDERAL GOVERNMENT AND NIGERIA’S ECONOMY! *They have forced Jonathan into the throats of all Peoples’ Democratic Party [PDP] members, to run for another presidency election in 2015, in exchange for automatic second terms and Senate positions for those retiring! *They also barred serving Senators from their respective States from returning to the red chambers in 2015! *Retiring governors were also demanding that their respective States provide them with very juicy benefits which include exotic mansions in the Federal Capital Territory, at least N300million bulk gratuity, three state-of-the-art Special Utility Vehicles (SUVs), security guards, gardeners and house helps etc. *However Ngozi MUST NOT LOSE HER FOCUS, she is one of the few that God can use to salvage this sinking nation from economic suicide BUT SHE MUST NOT SOIL HER SPOTLESS ERMINE COAT, IF NEED BE, SHE MUST BOW OUT WITH INTEGRITY! Amen. The 2015 General Election is knocking at the door! Presidential election is slated for February 14, 2015! *All of the above is written to keep you updated to form educative opinion and identify credible candidates! The Holy Spirit will guide all decisions. Amen. If you have not accepted the Lord Jesus Christ as your personal Lord and Saviour, don’t miss this great opportunity as you pray this prayer: Lord Jesus; I confess that I am a sinner who needs to be saved through the grace of the New Testament of your Blood, shed on the Cross at Calvary; I renounce every sin in my life and accept you as my Lord and Saviour. Please forgive me and write my name in the Book of Life. Amen. If you prayed this prayer, you have been admitted into the family of sons and daughters of God, who are born-again. Congratulations. Please look forward to more divine revelation in the next edition of Zion B-BC Newsletter as you share this with friends and remain blessed in the Lord. [For weekly access,to this newsletter, log on to: facebook.com/zionfaithbible.believingchurch or http://www.zfbbc1.blogspot.com, https://www.google.com/+zionfaithbiblebelievingchurch . I am, Yours sincerely,Dr. David B.A. Olufon, Resident Pastor and Editor.08130669886, 08098194390.g-mail- dvdolufon@gmail.com .]