Minister of Finance, Wale Edun, links the current inflation in Nigeria to the printing of N22.7tn by the Central Bank of Nigeria through Ways and Means overdraft during the former President Buhari administration.
Edun, briefing the Senate Committee on Finance, highlighted the lack of corresponding productive activities during this period, emphasizing the consequences of printing money without boosting productivity.
The Senate, previously resolving to probe the N30tn Ways and Means overdraft, aims to investigate the alleged reckless spending contributing to food and security crises. Edun assures the committee of damage-mitigating policies, expressing confidence in recovering from high inflation and improving GDP growth.
