Governor Godwin Obaseki has slammed President Muhammadu Buhari and his economic team for engaging in “monetary rascality” as Nigeria flounders.

Peoples Gazette reported that the country’s inflation had worsened, hitting 18.17 per cent in March.

The country’s consumer price index, which measures inflation, increased by 18.17 per cent (year-on-year), 0.82 per cent points higher than the rate recorded in February 2021 (17.33 per cent).

Mr Obaseki censured the government in a series of tweet via his official Twitter handle, @GovernorObaseki, on Thursday.

He asked Mr Buhari’s regime to take urgent steps to resolve the country’s economic crisis.

Specifically, he advised the Minister of Finance, Budget and National Planning, Zainab Ahmed, to rally Nigerians in a bid to stop the “fiscal slide.”

“Rather than play the ostrich, we urge the government to take urgent steps to end the current monetary rascality so as to prevent the prevailing economic challenge from degenerating further,” said Mr Obaseki.

He added, “We believe it is imperative to approach the Nigerian project with all sense of responsibility and commitment and not play to the gallery because ultimately, time shall be the judge of us all.”

Last week, Mr Obaseki expressed concerns about Mr Buhari’s fiscal policy, claiming that the federal government printed N60 billion for states to share in March.

He projected that the government’s chronic borrowing system would result in an additional N16 trillion debt at the end of the year.

In response, on Wednesday, Ms Ahmed accused Mr Obaseki of spreading falsehood.

“The issue that was raised by the Edo state governor for me is very, very sad because it is not a fact,” said the minister.

The country’s consumer price index, which measures inflation, increased by 18.17 per cent (year-on-year), 0.82 per cent points higher than the rate recorded in February 2021 (17.33 per cent).

The CPI report for March released by the National Bureau of Statistics detailed that the headline index increased by 1.56 per cent in March 2021, which is 0.02 per cent points higher than the rate recorded in February 2021 (1.54 per cent).