What Govt. Needs To Do While Waiting For 2018 Budget Passage
On the first week of November, President Muhammad Buhari presented the 2018 budget to a joint session of the National Assembly in Abuja.
The government proposed an ambitious 8.6 trillion naira for the 2018 fiscal year.
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At the time, the government had hoped the relatively early presentation of the budget would make for early passage.
But the budget has been beset by several challenges including allegations of padding which has made it difficult for early passage as envisaged by the executive.
The delay has been decried from several quarters and Director General of Lagos Chamber of Commerce and Industry, Muda Yusuf told Bounce News that the delay “has serious implication for capital project implementation which is very important for infrastructural development”.
And so, with this comes the question, what should the government be doing while waiting for the budget to be passed?
Managing Director, Afrinvest Securities Limited, Ayodeji Aboh said the government should take advantage of the delay to complete the implementation of the 2017 budget.
“The 2017 budget is still being implemented, so there is no void at the moment,” said Ebo while speaking at the 2018 Economic outlook in Lagos.
According to Ebo, “The government needs to focus now that the budget is not yet passed, on the policy that will help drive this budget instead of folding their hands and be complaining that the senate has not passed the budget.
“They need to come up with strong policies so that by the time the budget is passed, they will hit the ground running in terms of disbursement, and then things can move faster. And we may not lose any major grounds if these things are in place. Policy is key to driving the economy.”
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