Bola Tinubu raises alarm over hyper-inflation
Asiwaju Bola Tinubu, the godfather of the All Progressives Congress has described Nigeria’s current inflation rate of 18 per cent as unbearable
Tinubu said Nigerians were suffering too much and urged the Federal Government to bring Nigeria out of the throes of recession by urgently reviewing its monetary policies.
Tinubu spoke on Wednesday as a guest lecturer at the National Defence College Course 25 lecture, titled, “Strategic Leadership: My Political Experiences.”
The APC chieftain, who urged the Federal Government to “stimulate this economy,” said the decline of oil prices seemed to be a long-term phenomenon and strategic objectives must be put in place to re-engineer the economy, using the bottom-up approach.
“In the situation we face, deficit spending is essential to bolster aggregate demand and direct funds to projects that build infrastructure and bolster employment. We must better harmonise monetary policy with fiscal policy. It undercuts our goals if monetary policy is unduly tight at a time when fiscal policy begets deficit spending.”
Tinubu added that the leadership of the APC was right to criticise the Federal Government, because “when it is necessary, speak truth to the power, we are the power, we will talk the truth to ourselves.”