‘Aimlessly’ Printing Of N22tn By Buhari’s Government Responsible For Hardship In Nigeria – Edun Lament

Wale Edun, finance and coordinating minister of the economy, says former President Muhammadu Buhari’s regime caused Nigeria’s hyperinflation by” aimlessly” printing trillions of naira.

“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,” Mr Edu told Senate Committee on Finance on Wednesday

Mr Edu lamented that for eight years, Mr Buhari’s regime printed money without commensurate productivity, adding that “we are going to audit even the N22.7 trillion printed aimlessly.”

“We talked about inflation. Where has it come from? It came from 8 years of just printing money not matched by productivity,” Mr Edu said.

“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,” he added.

Mr Tinubu succeeded his party man, Mr Buhari from office on May 29, 2023. With inflation at 22 per cent, Mr Buhari, who presided over the country for eight years, from 2015-2023, bequeathed a debt profile of over N46 trillion, according to Debt Management Office, to Mr Tinubu.