Edun Blames Inflation on ‘Eight Years of Printing Money without Productivity’

0 146

Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has attributed the current inflation in Nigeria to eight years of printing money without corresponding productivity under the administration of former President Muhammadu Buhari.

Speaking before the Senate Committee on Finance, Edun highlighted that the printed money mainly benefited a select few individuals in the country.

Edun emphasized that the inflationary pressures arose from a lack of productivity to match the printed money. He noted that the money was not backed by an increase in output or productivity, leading to economic imbalances and widening disparities between the privileged few and the majority.

The Minister reiterated the Federal Government’s commitment to auditing the 22.7 trillion ways and means advance obtained during the former President Buhari’s regime. Edun assured the committee of the government’s determination to find sustainable solutions to the prevailing economic challenges.

Source: Business Day

Leave A Reply