Senator Bola Ahmed Tinubu, former Governor of Lagos State and national leader of the ruling All Progressives Congress (APC) has advised the federal government to print more money in order to effectively prosecute the ongoing war on Covid-19 and save the economy from recession.
According to a report by NAIJA LIVE TV, Tinubu said this in a statement he wrote in commemoration of his 68th birthday.
The former governor, according to the report, noted that the United States Federal Reserve had printed more dollars in order to invigorate the economy, stressing that Nigeria could borrow a leaf from them.
In Tinubu’s words, “Already, the price of oil has fallen to less than 30 dollars a barrel. This will bring a dollar shortfall. This does not, however, necessitate a corresponding shortfall in public sector naira expenditures.
“The US controls dollar issuance. We control naira issuance as is our sovereign right. Just as America has used its sovereign right to issue its currency to stave economic disaster, so too may Nigeria issue naira for the same purpose.”
*** Franca Joseph