The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, says the current inflation in the country was caused by the printing of trillions of naira during the administration of President Muhammadu Buhari without productivity.
Speaking on Wednesday during a meeting with the Senate Committee on Finance, he said he will audit the N22.7 trillion which was, in his own words, printed aimlessly by the Central Bank of Nigeria, CBN, through Ways and Means overdraft for the Federal Government from 2015 to 2023.
READ ALSO: Wike Working On Solution To End Open Grazing In FCT
He also said that the N22.7 trillion printed landed Nigeria into hyper-inflation. Speaking further, Mr. Edun said that for eight years, the weak were left to their own devices, while the privileged few took everything.
In his closing remarks, Chairman of the Committee, Senator Sani Musa, said the interactive session would be a continuous exercise so that the committee would have the opportunity of being updated on the short and long term plans of the government on how to tackle the current economic situation of the country.
Leave feedback about this
You must be logged in to post a comment.