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During the Public Wealth Management Conference in Abuja, Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, announced the Federal Government’s intention to audit the N23 trillion debt owed to the Central Bank of Nigeria (CBN), known as Ways and Means.
“Ways and Means” refers to funds borrowed by the federal government from the CBN. Edun emphasized the need for this audit to ensure transparency and prevent the government from paying for funds it did not utilize.
The minister also highlighted the government’s efforts to enhance the attractiveness of the Nigerian business environment to investors. This includes initiatives to reduce unnecessary taxes and streamline regulations.
Furthermore, Edun outlined plans to bolster revenue generation from government-owned enterprises (GOEs) and increase oil output through the Nigerian National Petroleum Corporation Limited (NNPC) to boost oil revenue for the country.
