National Leader of the All Progressives Congress (APC), Asiwaju Bola Tinubu, has debunked news report on printing of new naira notes as  his suggestions on the economic measures to be taken to cushion the effect of the COVID-19 pandemic.

According to the APC Chief, such a suggestion is extremely far-fetched and has never been on my mind. It is unfortunate that my prescriptions were so badly misunderstood and misreported.”

Tinubu, who marked his 68th birthday in a low-key on Sunday, had issued a statement calling on the Federal Government to maintain spending and temporarily suspend Value Added Tax (VAT).

He said: “To be clear, I do not want, nor am I calling for the Federal Government to print a single new naira note. What I do want is for the government to meet the coming economic challenges with a swift, bold and effective spending plan. Those who, until now, would spend their time beating up on straw men should give us their own plans. If, that is, they even have any.”

The National leader called for increased stipends to the poor by widening the net and substantially increase the beneficiaries of the “anti-poverty” stipends.

Tinubu said the COVID-19 pandemic called for unity of purpose among Nigerians in order to defeat the virus.

According to him, prudent fiscal policy is generally “countercyclical.”

“As the private sector shrinks, government does more,” he added.

He also advised the government to announce a tax credit or partial tax reduction for companies or firms while the Value Added Tax (VAT) should be suspended for the next 2-4 months, saying this will help lower import costs and protect against shortages.