Minister of finance and the Coordinating minister of the economy Wale Edun, has blamed the current inflation in the country on eight years of printing money without matching it with productivity by former President Muhammadu Buhari.
Edun who disclosed this on Wednesday during an interface with the Senate Committee on Finance, said during the period, the printing of naira in trillions was carried out without matching it with productivity.
Galaxy tv reports that the finance Minister reiterated the resolve of the Federal government to audit the 22.7 trillion ways and means advance under Former President Buhari’s regime.
He said the consequence of the eight years of printing money without productivity is high inflation confronting the country now.
In his closing remarks, the Chairman of the Committee, Senator Sani Musa, said the interactive session will be a continuous exercise in knowing the short-term and long-term plans of the government on its way out of the precarious situation.
Two weeks ago, the Senate resolved to probe the N30tn Ways and Means spent by the Buhari-led Federal Government, which, according to it, was recklessly spent.
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