President Tinubu Launches Probe Into N23 Trillion Way And Means Debt

President Tinubu Launches Probe Into N23 Trillion Way And Means Debt

In a groundbreaking move, President Bola Tinubu’s administration is gearing up to conduct a thorough investigation into Nigeria’s staggering N23 trillion Ways and Means debt, a significant burden on the nation’s finances….READ ALSO Tinubu’s Daughter Speaks Out Amidst Hardship

The announcement came during the Public Wealth Management Conference organized by the Ministry of Finance Incorporated (MoFI), where Minister of Finance and Coordinating Minister for the Economy, Wale Edun, unveiled the government’s plan.

Edun revealed that the executive arm is preparing to introduce a bill to the National Assembly, seeking authorization to eliminate burdensome taxes and levies from the country’s tax system. This strategic measure aims to curb future accumulation of Ways and Means indebtedness, ensuring fiscal responsibility and sustainability.

Moreover, the government intends to pursue robust policies aimed at enhancing revenue generation from Government Owned Enterprises (GOEs) and corporate entities. By harnessing revenue in real time, the administration aims to bolster financial stability and mitigate reliance on Ways and Means financing.

President Tinubu’s decisive action underscores his commitment to transparency, accountability, and prudent fiscal management. As Nigeria navigates its economic landscape, this probe marks a pivotal step towards addressing systemic financial challenges and fostering sustainable growth.