The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has stated that the government led by President Bola Tinubu inherited the escalating prices of food and general commodities from the previous administration. However, the government is taking measures to mitigate the high prices of food and address the soaring inflation rate in the country.
The finance minister made these remarks on Tuesday during the Public Wealth Management Conference held in Abuja, the nation’s capital.
He acknowledged that the Federal Government is aware of the challenges faced by Nigerians and has implemented measures to alleviate their hardships.
These interventions include the distribution of forty-two thousand metric tons of grains, with an additional sixty thousand metric tons expected to be released soon.
Regarding the 22.7 trillion naira Ways and Means facility approved by the previous administration, Edun clarified that an audit is currently underway, and further details will be disclosed in due course.
He emphasized that the Federal Government remains committed to doubling its tax revenues, and progress toward this goal is proceeding as planned.