FG will audit N23trn Ways & Means, says Finance Minister

By Saidu Idris

365Daily – The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has disclosed that an audit will be conducted on the Federal Government (FG)’s N23 trillion Ways and Means.

He said this at the opening of the Public Wealth Management Conference in Abuja on Tuesday,  February 20, 2024.

Ways and Means is the expression for money borrowed by the FG from the Central Bank of Nigeria (CBN).

He explained that the decision to audit the federal government debt to the CBN was to ensure that it is repays funds that it actually spent.

Speaking further, the minister assured that President Tinubu administration was working hard to make the Nigerian business space more attractive to investors by eliminating all unnecessary taxes.

He added that all government-owned enterprises (GOEs) would boost their revenue generation.

On the Nigerian National Petroleum Corporation Limited (NNPCL), he stated that they have been asked to improve oil output with a view to increasing oil revenue in the country.

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