THESE are not the best of times for real sector operators, particularly manufacturers. For a sector struggling to bounce back after a debilitating recession forced it on its knees, the delay in the passage of the N8.6 trillion 2018 Appropriation Bill by the National Assembly (NASS) may have added to its litany of woes.
Not a few operators who spoke with The Nation lamented that the delay in the passage of the budget has naturally slowed down economic activities. To them, critical business decisions have been put on hold. Some of them believed key capital/infrastructure projects would be delayed or abandoned.
The Director-General, Lagos Chamber of Commerce and Industry (LCCI), Mr. Muda Yusuf, said the delay in the budgetary process would entrench the vicious cycle of poor budget implementation.
On the likely effect of the budget delay on its implementation, especially its capital component, Yusuf said: “The risk is that recurrent spending will be fully implemented while capital projects suffer the usual implementation deficiency.”
The Nation, May 7, 2018
RipplesNigeria… without borders, without fears
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
SPECIAL REPORT: World Bank road projects go bad in Enugu, as state govt fails to fulfill promise
Counterpart funded road projects between the world Bank and Enugu State government have started to fail, as the state government...
INVESTIGATION: How N70m road construction created more hardship for Sokoto residents
“To address recurrent accidents on Gagi to Gidan Dilo road and Fakon Idi roads, in Sokoto State, the Federal Government,...
INVESTIGATION: Inside Kwara school where students are used as labour on teachers’ private farms
In this report, SHEREEFDEEN AHMAD uncovered how young students in Kwara State, Nigeria, are being used for labour work on...
INVESTIGATION: How Kano SUBEB awarded contracts to inactive contractors, non-existent schools
In an effort to address issues hindering quality education, the Kano State Government in 2020 awarded N88,406,667.10 for the construction...
SPECIAL REPORT: Hike in gas price forces more Nigerians to use coal, sawdust, as smoke kills 93,300 yearly
In the build-up to the 27th Conference of Party (COP 27), Nigeria recently launched its energy transition plan (ETP) as one of...