Recently, Godwin Obaseki, the Edo State governor, claimed that the federal government printed an additional 60 billion naira to augment federal allocation to states in March.
To prove it, a report by Dataphyte showed Nigeria printed over 19.03 trillion naira since 2015. The habit has spanned over five years, with the bulk of the money invested in recurrent expenditures without matching economic activities. However, rather than solve the fiscal problem, unrestrained reliance on money printing and the resultant inflationary pressure portend danger for Nigeria’s essentially fragile economy….
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