Finance Minister Addresses Naira Note Shortage, Promises Better Days Ahead

Nigeria’s Minister of Finance, Budget, and National Planning, Zainab Ahmed, has expressed regret over the present shortage of new Naira notes, which has caused hardships for Nigerians.

During the 65th Session of the State House Media Briefing in Abuja, the minister told the public that the hard times are only temporary and that the monetary policy will soon pay off.

Ms. Ahmed highlighted her ministry’s performance, including a noticeable increase in domestic revenue (non-oil sector) from 30% to 70%. She also explained that the Finance Act leverages tax credits for road infrastructure financing and taps private sector expertise for road construction.

READ ALSO: Banks Can Deposit Old Naira Notes Beyond February 10 Deadline

Additionally, the Federal Inland Revenue Service saw an increase in its revenue base from 6 trillion in 2021 to 10.1 trillion in 2022. The minister’s speech is meant to reassure the public that the government is working hard to improve the economy and deal with the problems that are happening right now.

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