He made this known on Wednesday at the National Defence College (NDC) Abuja, in his paper presentation to Course Participants titled: “Strategic leadership: my personal theory and practice.”
He explained that the monetary policy must be consistent with the environmental need of our domestic requirements, noting that too much is tied down.
He added that President Muhammadu Buhari-led federal government must ease the monetary policy to stimulate the economy: “you have to spend yourself out of this recession and you cannot do that by consistently stifling the Banks of liquidity.”
He said: “Sincerely, where we see contradiction in the policy, we are going to talk about it, this is a nation of freedom, a democratic country, and this is our government, we are not like the other party who will invent one lie to lie, and to bury a lie and other mistakes.”
“The monetary policy needs constant reviews and evaluations, and how it would affect the market and ordinary people as well, because if there is no liquidity in the market the Banks would price out the ordinary man, and inflation is growing at 18 percent,” he warned.
Tinubu said we must avoid the nostrums of mainstream orthodoxy that say government deficits are always bad.
He added that in the situation we face, deficit spending is essential to bolster aggregate demand and direct funds to projects that build infrastructure and bolster employment.
He said its better harmonize monetary policy with fiscal policy, arguing that it undercuts our goals if monetary policy is unduly tight at a time fiscal policy begets deficit spending.
He also urged that trade policy be realign with the need to create a meaningful industrial base and more potent agricultural sector.
He said Nigeria can no longer allow cheap imports to preclude the development of industries. Click to signup for FREE news updates, latest information and hottest gists everyday
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Hahahaha! It is sad. Even my grandmother who is an expert in making fura and buruku will turn economic expert and may even want to give specialist economic advice on Nigeria economy.So sad!
ReplyDeleteAre Nigerians bereft of the brains?
Apparently Tinubu is still dwelling in the past. For mentioning other political parties. Nigeria was better off with Jonathan. Things werent this hard. PMB abd his entire team are deplete of ideas
ReplyDeleteNigerians are tired of rhetorics.
The economic problems Nigeria currently faces have been deliberately designed by the evil men who now occupy seat of power. There only agenda is to weaken Nigerians economically to a po where we can n longer have a voice.
ReplyDeleteTo a large extent, There ploy has worked since Nigerians at this point can be rise against the dark forces that seek to destroy the soul of our nationwide through heartless polices.
Oga go and sleep or better still take your story to grave yards, u are a key contributor to this recession simply because of your selfish motives and evil agenda.
ReplyDeleteAsiwaju our Leader respect... But you guys where all part of this mistake of Economic hardship by imposing Sai Baba on us...i thanks God that the same rain when dey fall for cricket house is also falling in the houses of elephant,leopard,lions and hyenas.... If we must compare this PMB govt has no comparism with the past of GEJ.... Propaganda Administration..Sai hardship
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