Expert Expresses Concern Over 2018 Budget Delay

Worried by the continued delay in the passage of 2018 Federal Government appropriation into law by the National Assembly (NASS) a financial expert and lecturer in the Department of Banking and Finance, Nasarawa State University, Dr. Uche Lekewa has expressed fear that implementation of the 2018 budget will cause setbacks to the nation’s economy.
He said that over the years, the national budget had always been delayed, even when NASS had promised easier passage, and the executive also promised early preparation of the budget, yet the delay keeps repeating.
Lekewa, who made this known to newsmen at the Port Harcourt International Airport, Omagwa, Friday, expressed dissatisfaction over the non-defence of budget by some ministries and parastatals uptil now, and wondered when this would be done.
According to the varsity don, early implementation of budgets as well as effective implementation of capital component would help in consolidating the economic gains recorded so far.
“If budget is adequately implemented it will bring succor to all sectors of the economy. The economy had shown signs of recovery on the back of improved liquidity in the Foreign Exchange market and apparent return of business confidence in recent time, but the passage and signing of the bill into law in record time can enhance its implementation.
“To consolidate the gains recorded thus far, a great deal of attention should be paid to the capital component of the budget, which is what will drive growth of the economy”, he said.
Lekewa, therefore, urged both the National Assembly and executive to close ranks and work with understanding, and pass the budget for the benefits of all Nigerians.

Corlins Walter