Connect with us

Metro

2020 Budget: NECA calls for reform of nation’s budgetary process

Published

on

  The Nigeria Employers Consultative Association NECA has called for a reform of the national budgetary process and its disciplined implementation to engender national growth The Director General of NECA Mr Timothy Olawale said in a statement in Lagos on Monday that late passage of national budget and below 50 per cent implementation over the years had contributed to Nigeria s slow growth Nigeria s fiscal year begins in January and ends in December hence we cannot begin to imagine the dire consequences of the late passage of the budget on national development and business growth he said Olawale said that the earliest time the national budget was passed was in March 2016 saying that the attempt to return the nation to a January to December budgetary year was a welcome development According to Olawale beyond enabling government to focus on the business of development it will also improve investors confidence and aid planning for both the private and public sectors Businesses thrive on certainty of government policies and programmes a return to January to December fiscal year and focus on implementation of same will no doubt accelerate national development Implementation is largely based on availability of revenue however government should do well to ensure fiscal discipline cut wastage and put more life into the war against corruption he said The DG urged both the executive and legislature to ensure full implementation of the budget The Nigeria News Agency reports that NECA is the umbrella organisation of employers in the Organised Private Sector of Nigeria EEI OYE WOJ Edited by Celine Damilola Oyewole Wale Ojetimi
2020 Budget: NECA calls for reform of nation’s budgetary process

target store blogger outreach the nigerian news today

Nigeria Emplo

The Nigeria Employers’ Consultative Association (NECA) has called for a reform of the national budgetary process and its disciplined implementation to engender national growth.

the nigerian news today

Director-General of NECA

The Director-General of NECA, Mr Timothy Olawale, said in a statement in Lagos on Monday that late passage of national budget and below 50 per cent implementation over the years had contributed to Nigeria’s slow growth.

the nigerian news today

“Nigeria’s fiscal year begins in January and ends in December; hence, we cannot begin to imagine the dire consequences of the late passage of the budget on national development and business growth,” he said.

Olawale said that the earliest time the national budget was passed was in March 2016, saying that the attempt to return the nation to a January to December budgetary year was a welcome development.

According to Olawale, beyond enabling government to focus on the business of development, it will also improve investors’ confidence and aid planning for both the private and public sectors.

“Businesses thrive on certainty of government policies and programmes; a return to January to December fiscal year and focus on implementation of same will, no doubt, accelerate national development.

“Implementation is largely based on availability of revenue; however, government should do well to ensure fiscal discipline, cut wastage and put more life into the war against corruption,” he said.

The DG urged both the executive and legislature to ensure full implementation of the budget.

Nigeria News Agency

The Nigeria News Agency reports that NECA is the umbrella organisation of employers in the Organised Private Sector of Nigeria.


EEI/OYE/WOJ

Edited by Celine-Damilola Oyewole/Wale Ojetimi

 

oldbet9ja hausa website link shortner Mixcloud downloader
Esenvosa Izah

NNN is an online Nigerian news portal that publishes breaking news in Nigeria and the world.Contacti: editor @ nnn.ng. Disclaimer.