COVID-19: Tinubu urges FG to print more money

Former Lagos State Governor, Bola Tinubu, has urged 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 68th 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.”

Details soon