Edun blames inflation on ‘eight years of printing money without productivity’

Minister of Finance and Coordinating Minister of the Economy, Wale Edun has blamed the current inflation in the country on eight years of printing money without matching it with productivity by former President Muhammadu Buhari.

Edun who was speaking when he appeared before the Senate Committee on Finance on Wednesday, March 6 said the money printed was benefitted by few individuals in the country.

“We talked about inflation, where has it come from? It’s come from eight years of just printing money. And the issue is that that money was not matched by productivity,” he said.

"It’s not like when you earn dollars and you free the naira alongside it, although there’s even a better way than that. But that’s still not as bad. It’s not as if the money is matched by productivity and increase in output. It is not. And what happened was that for eight years, the weak were left to their own devices. It is the privileged few that took everything,” Edun asserted.

Edun reiterated the resolve of the Federal government to audit the 22.7 trillion ways and means advance under Former President Buhari’s regime.