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
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