The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has blamed the current inflation in the country on printing of trillions of naira during the administration of President Muhammadu Buhari “without productivity.”

The minister spoke on Wednesday during an interface with the Senate Committee on Finance, saying “we are going to audit even the N22.7 trillion printed aimlessly.”

He said, “The N22.7 trillion printed by the Central Bank of Nigeria (CBN) through Ways and Means overdraft for the federal government from 2015 to 2023 landed Nigeria into hyper-inflation.

“We talked about inflation. Where has it come from? It came from 8 years of just printing money not matched by productivity. What happened was that for eight years, the weak were left to their own devices. It is the privileged few that took everything. That is the reality. So that money supply must be brought back.

“You distinguished senators have helped. You have given us the mandate to raise N7 trillion which we will do by sucking money from the market, using it to pay back the CBN and giving the government a balanced book. We are going to audit even the N22.7 trillion printed aimlessly.”

In his closing remarks, Chairman of the Committee, Senator Sani Musa (APC Niger East), 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.

iwaeda:
The same Buhari that you were all praising for putting Nigeria on the right track economically.Your brain is youched Wale Edun.

michlins:
When many were shouting,folks called them wailers and suffering from effects of loss of the election.


Truth is coming out and we don't yet have idea the insane amount of damage APC and Buhari has put Nigeria into.


I wish Tinubu all the best cause he needs it if Nigeria is going to survive. Nigerians look up to you Mr President

naija4life247:


We didn't have access to the books to know what Buhari and the vagabond Emefielelele were doing the, now we know better.

If you are not happy with what Wale Edun said, then you can do whatever you have power to do

Vinnie2000:


The way you Guys reason ehn.

Was it not Tinibu who campaigned for Buhari to take over as president? 😏

Tinibu's Loyalists (Gbajabiamila, Ahmed Lawan and Yemi Osinbajo) were Active players in Buhari's Govt,
Why didn't Tinubu use that Channel to Advise Buhari? 😕

He kept Quiet and was GREEDILY siphoning Funds through these Guys,
Now he is Blaming Buhari.

naija4life247:


We didn't have access to the books to know what Buhari and the vagabond Emefielelele were doing the, now we know better.

If you are not happy with what Wale Edun said, then you can do whatever you have power to do

naija4life247:


We didn't have access to the books to know what Buhari and the vagabond Emefielelele were doing the, now we know better.

If you are not happy with what Wale Edun said, then you can do whatever you have power to do