The Finance Minister, Wale Edun, revealed on Wednesday that the economic downturn in the country can be attributed to a significant policy error during the past administration of President Muhammadu Buhari.

He said the policy involved freely printing Naira for eight years without a proportional increase in productive activities.

Speaking before the Senate Committee on Finance in Abuja, chaired by Senator Sani Musa, Edun emphasized that this approach led to inflationary pressures, contributing to the nation’s current economic challenges.

He commended the current administration, led by President Bola Ahmed Tinubu, for taking steps to stabilize the Naira against the dollar and implement a more transparent social welfare scheme.

Nigerian Tribune