The Federal Government has disclosed that the policy of the immediate past administration of former President Muhammadu Buhari, which resulted in free printing of Naira for eight years without corresponding production, is one of the major causes of the country’s current economic situation.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, revealed this on Wednesday in Abuja.
Edun spoke when he appeared before the Senate Committee on Finance chaired by Senator Sani Musa.
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Edun said the administration of President Bola Tinubu had done a lot, including efforts to stabilise the naira against the dollar and the implementation of a more transparent social welfare scheme for the citizenry.
“The inflation is due largely to eight years of printing the naira, which was not matched by production,” he said.
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