The Central Bank of Nigeria’s Deputy-Governor, Aisha Ahmad at the CBN April monetary policy committee meeting in Abuja, has called on all politicians to take caution in over spending towards the 2019 upcoming general elections. She disclosed at the meeting that spending for the elections may cause an increase in the inflation rate in Nigeria. She has also urged those in authority to pass the 2018 budget urgently in order to boost investment and economic output across Nigeria.

The CBN Deputy-Governor stated; “The anticipated huge fiscal spending for the proposed 2018 budget and preparations ahead of the 2019 elections may also have inflationary effects,” “This in itself would obviously call for a proactive and cautious monetary policy response to ensure there is no upward pressure on inflation. Thus, I would encourage quick passage of the 2018 appropriation bill by the national assembly, to keep fiscal policy on track, boost investment, employment and economic output for the benefit of the citizenry.” “It is my opinion that monetary policy considerations at this time should prioritize reduction in the general price level, exchange rate stability, and sustaining the fragile economic growth.” “We must – while we still can – encourage the positive momentum in capital flows and accretion to reserves, while accelerating the downward inflation trajectory.”