Inflation: Statistician cautions politicians, government against reckless spending

A statistician, Dr Olusanya Olubusoye has advised politicians and government at all levels against reckless fiscal spending to prevent inflation ahead of the 2019 elections.

Olubusoye, a lecturer at the Department of Statistics, University of Ibadan, gave the advice in an interview with the News Agency of Nigeria (NAN) in Abuja on Monday, while reacting to March inflation figures.

Nigeria’s inflation rate measured by the Consumer Price Index (CPI) dropped from 14.33 in February to 13.34 per cent in March year-on-year, according to the National Bureau of Statistics (NBS).

The don said reckless fiscal spending was one of many causes of inflation.

He explained that politicians of the leading parties usually raised and spent  huge funds for their campaigns during elections.

Olubusoye said the campaign funds increase the money in circulation and fuels inflation.

“Election year is usually a spending year and the tendency is there to have inflation triggered by the careless spending…

[

Leave a Reply

Your email address will not be published. Required fields are marked *