Federal Government to probe N23 Trillion Way and Means debt

The Tinubu-led administration is preparing to audit the N23 trillion Ways and Means debt it currently holds.

The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, revealed this information on Tuesday at the Public Wealth Management Conference hosted by the Ministry of Finance Incorporated (MoFI).

The executive arm will soon present a bill to the National Assembly to authorize the removal of all taxes and levies that are considered a nuisance from the country’s tax system. This will help the government prevent future Ways and Means indebtedness.

The Minister emphasized that the government will actively implement policies to generate revenue in real-time from Government Owned Enterprises (GOEs) and Corporate entities.

Details later