NBCC urges FG to follow budget signing with immediate announcement of ministers

The Nigerian-British Chamber of Commerce (NBCC) has commended the signing of N8.92 trillion 2019 Appropriation Bill into law, saying the immediate announcement of cabinet members will trigger a robust economy.

Mr Akinola Olawore, President of NBCC gave the commendation in an interview with the News Agency of Nigeria (NAN) on Monday in Lagos.

President Muhammadu Buhari on Monday signed the 2019 appropriation bill of N8.92 trillion into law, while expressing his reservations about the changes made to the Budget.

The president on Dec. 19, 2018 presented a Budget Proposal of N8.83 trillion to the National Assembly and the Senate passed the 2019 Appropriation Bill of N8.92 trillion on April 30.

President Buhari said the addition of about N90 billion to the N8.83 trillion he submitted to the legislature would make it difficult for government to realise its set objectives.

Olawore said that the budget signing coming at the transition period was a good development that should be followed with the announcement of new cabinet members to aid immediate implementation of the budget.

“If the ministers are announced in the next few days, we would have a robust budget implementation that would inject life into the economy.

“Since it is the same party that is in power, I do not see any reason why there should be a delay, so that the ministers can hit the ground running in the discharge of their duties,’’ he said.

The NBCC president said that early and effective implementation of the budget would generate more jobs and inject liquidity into the economy, since the budget was focusing on bridging the nation’s infrastructure deficit.

-NAN