LCCI Tasks Govt On Expenditure

The Lagos Chamber
of Commerce and Industry has tasked the government to ensure that wasteful expenditure and spendings are curbed and cost of governance reduced.
The LCCI President, Alhaji Remi Bello, stated this in Lagos, recently, while addressing journalists on the fiscal responsibility of the government.
Bello urged the government as a matter of necessity to cut down on fuel importation, as well as put an end to subsidies on fuel and kerosene thereby Saving the nation about N91 billion.
He said the falling oil price was affecting the global and domestic economic conditions which invariably portends profound challenges for the private sector.
The LCCI boss emphasized that the economic conditions had put pressures on costs driven by the depreciating naira, structural shift  in demand and competitiveness in favour of high local content.
He called for the thorough review of budgetary provisions in areas like service wide vote, pensions, capital supplementation, gratuity administration and government agencies’ budget .