Okunronmu, also a former CBN director, gave the advice in an interview with the News Agency of Nigeria on Monday in Ota, Ogun, ahead of the two-day Monetary Policy Committee Meeting.
Nigeria’s inflation rate jumped to 16.82 per cent in April from 15.92 per cent in March, the highest in eight months, according to the National Bureau of Statistics . He noted that if the Federal Government budget was in deficit, being financed by some banking system, the inflation rate was inevitable.
“There is the need for MPC to do the needful by evolving an efficient fiscal policy with monetary policy since they have the data about what is happening in the economy.
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