03-29-2020, 11:55 AM
Quote:All Progressives Congress leader, Bola Tinubu , has asked the Federal Government to print more naira notes in order to save the economy from collapse even as the Covid-19 pandemic continues to bite harder.
Tinubu said this in a statement he wrote in commemoration of his 68 birthday .
The former governor of Lagos State said the United States Federal Reserve had printed more dollars in order to boost the economy.
He said Nigeria could also do the same .
Tinubu added, “ 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 .”