For instance, the 2018 budget proposal which was sent to the National Assembly in November 2017 was passed on May sixteenth this year and is yet to be assented to by the president.
Reacting to the development, the Director General Enugu Chamber of Commerce, Industry, Mines and Agriculture, Dr. Emeka Okereke said the late passage of the budget was detrimental to the nation’s economy as it would likely discourage foreign investors.
He explained that early passage of the budget ensured an ample time for proper implementation which would lead to the development of the nation.
Dr. Okereke urged the Federal Government to ensure proper implementation of the budget to achieve a vibrant economy.
An Accountant and retired Banker, Mr. Francis Ugwu observed that when the passage of the budget was delayed, the government would not be able to implement capital expenditure which kept the economy at stand still.
An Enugu based business man, Mr. SylvanusOkpani pointed out that the late passage of the national budget sent a wrong signal to the other tiers of the government.
He advised the legislative and the executive arms of government to have the interest of the masses at heart while discharging their duties.
According to his analysis, this will motivate them to pass the budget on time and alleviate the sufferings of the people.