President Tinubu To Probe N23 Trillion Way And Means Debt

The federal government of Nigeria, under the leadership of President Bola Tinubu, is set to audit the N23 trillion Ways and Means debt hanging on its neck.

This was made known on Tuesday by the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, during the Public Wealth Management Conference organised by the Ministry of Finance Incorporated (MoFI).

He said the executive arm will soon present a bill to the National Assembly that will authorise the removal of “all taxes and levies that constitute nuisance from the country’s tax system so the government can prevent future Ways and Means indebtedness.

The Minister added that the government will vigorously pursue policies that will allow it to harvest revenue in real time from Government Owned Enterprises (GOEs) and Corporate entities.

Also, at the same event, Edun added that the Bola Tinubu government inherited a bad economy and the rising prices of food and commodities from the previous administration.

Edun stated that the Tinubu government is aware of the sufferings of Nigerians and that measures have been put in place to alleviate their suffering.

The minister added that the government is doing its best to bring down the prices of food as well as the soaring inflation rate in the country.

Edun stated that some of the interventions include the release of forty-two thousand metric tons of grains, and another sixty thousand metric tons are expected to be released soon.