PRESIDENT TINUBU WILL EXAMINE N23 TRILLION DEBT METHODS

Babatunji Wusu –

Under President Bola Tinubu’s direction, the Nigerian federal government is scheduled to examine the N23 trillion Ways and Means debt that hangs over its head.

Under President Bola Tinubu’s direction, the Nigerian federal government is scheduled to examine the N23 trillion Ways and Means debt that hangs over its head.

Wale Edun, the Coordinating Minister for the Economy and Minister of Finance, said this on Tuesday at the Ministry of Finance Incorporated (MoFI) Public Wealth Management Conference.

In order to enable the government to avoid more Ways and Means indebtedness, he stated that the executive branch will soon submit a measure to the National Assembly that would permit the elimination of “all taxes and levies that constitute nuisance from the country’s tax system.”

The Minister went on to say that the government will actively seek laws that will enable it to collect money from corporate and government-owned enterprises (GOEs) in real time.

Additionally, Edun stated at the same event that the Bola Tinubu administration took over from the previous government a weak economy and rising food and commodity prices.

According to Edun, the Tinubu administration has taken steps to lessen the suffering of Nigerians and is cognizant of their plight.

The minister went on to say that the administration is making every effort to lower the nation’s skyrocketing inflation rate as well as food prices.

According to Edun, forty-two thousand metric tons of grains have been released as part of the interventions, and another sixty thousand metric tons are anticipated to be released shortly.