The National Leader of the ruling All Progressives Congress, APC, Asiwaju Bola Tinubu, has slammed the Buhari administration’s economic policies. Tinubu in Washington said the Buhari-led administration must change the policies immediately to save the country from sliding into depression.
“We must better harmonize monetary policy with fiscal policy. It undercuts our goals if monetary policy is unduly tight at a time fiscal policy begets deficit spending. “We must also realign trade policy with our need to create a meaningful industrial base and more potent agricultural sector. We can no longer allow cheap imports to preclude the development of industries and sectors strategic to our enduring economic future.”
“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 can no longer allow cheap imports to preclude the development of industries and sectors strategic to our enduring economic future,
Senator Tinubu, insisted that the current economic policy of the government had not done the country any good, pointedly told President Muhammadu Buhari to realign trade policy with the country’s need to create a meaningful industrial base and more potent agricultural sector.
He made the statement while Speaking at the National Defence College, Abuja, where he featured as a guest speaker, on a public lecture with the titled:” Strategic Leadership: My Political Experience’ . Economists across the globe has condemned the economic policy of the Buhari administration after recording a third successive quarter of negative economic growth.
Speaking with our correspondent in Washington, Derrick Hunt, an adviser with the new administration’s new business growth said Nigeria’s president must respond with decisive action and a clear vision that will restore confidence in the economy.