Wale Edun, serving as both the Minister of Finance and Coordinating Minister of the Economy, affirmed that President Bola Tinubu’s administration would be transparent in its handling of oil funds. Speaking before the House Appropriations Committee in support of the 2024 appropriation bill, Edun emphasized the importance of proper accountability for oil revenues.
He acknowledged the relevance of establishing mechanisms for depositing funds based on currency rates, aligning with the government’s goal to enhance tax revenue and streamline tax administration.
Highlighting the administration’s focus on bolstering tax income and operational efficiency, Edun stressed the significance of relying on both domestic and private foreign investments to foster economic growth.
Furthermore, he raised concerns about inadequate spending on crucial infrastructure and advocated for an investigation into potentially overestimated expenditures.
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