The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the President Bola Tinubu government inherited the rising prices of food and general commodities from the previous administration but is doing what it can to bring down the prices of food as well as the soaring inflation rate in the country.
The finance minister stated this on Tuesday at the Public Wealth Management Conference in Abuja, the nation’s capital.
A file photo of a food trader at a market in Akure, the Ondo State capital. Sodiq Adelakun/Channels Television
The minister of finance said that the Federal Government was not unware of the sufferings of Nigerians as measures have been put in place to alleviate their sufferings.
The interventions, according to him, include the release of forty two thousand metric tons of grains and another sixty thousand metric tons expected to be released soon.
Grains and legumes are seen at a market in the Obalende area of Lagos on December 18, 2023. (Photo by Benson Ibeabuchi / AFP)
On the 22.7 trillion naira Ways and Means approved by previous administration, Edun explained that an audit is ongoing and details would be released soon.
He stressed that the Federal Government’s plan to double its tax revenues was on course.
FILE: The Minister of Finance and Coordinating Minister of the Economy, Wale Edun
The event was organised by the Ministry of Finance Incorporated (MOFI) to seek ways of managing the nation’s assets and resources for the overall wellbeing of the people.
The event was also graced by Vice President Kashim Shettima; the Minister of Industry, Trade and Investment, Doris Uzoka-Anite; Minister of Agriculture, Abubakar Kyari; and the Governor of Cross Rivers State, Bassey Otu.
Also at the event were World Bank representatives as well as members of the private sector and the diplomatic corps.
On his part, the Vice President called for the enumeration of the nation’s public assets which he said has hitherto remained unaccounted for over the years.
Shettima said a conscious effort at the enumeration would help the government provide funding for the nation’s education and health sectors as well as lift many people out of poverty.
The Vice President was optimistic that the nation would rise above its present economic challenges as he alleged that there were forces bent on undermining the government’s efforts, especially with the recent illegal transportation of food out of the country.