Experts task Buhari on early implementation of 2021 budget
Operators in the nation’s financial market have urged the federal government to ensure early implementation of the budget to increase liquidity and business activities to enable the economy recover faster from the second wave of recession.
They said that once the budget takes off early it will help the market to grow and cushion the effect of hardship in the country.
A Financial Analyst, Mr Chigbo Okezie said early signing of appropriation bills to law is a welcome development but implementation is another thing that will cause the system to work.
He said the early signing and implementation of the budget would create opportunities for the private sector especially, manufacturing sector to plan ahead and position for growth and economic recovery.
According to him, signing the budget into law early is good but the failure of the government to do the needful by implementing the budget early would not add any value to the economy.
He said the government needs to inject funds into the system to increase liquidity, boost business activity and create job opportunities in the country.
He said for the country to achieve meaningful development, there must be job creation, high level of protection of lives and properties, stressing that without making enough provisions for job creation and securities, there would be no development because there would be a lot of distractions from the background.
He said that “allocation of money for security and creating openings for employment is good but not enough”, adding that “the government needs to adopt an evaluation mechanism and strategy for monitoring everything they are doing to achieve expected results at the end of the day.”
Managing Director APT securities and Funds Limited, Malam Garba Kurfi said signing of the budget by the President will promote early implementation of Capital project which promotes economic recovery in view of the recession we are experiencing in the country.
He said that such action gives the foreign Investors confidence and the direction of the economy so as to know the areas to Invest during the year.
He stated that early implementation would position the country in better opportunity from early recovering from recession.
Listing some of the benefits of early signing and implementation of budget, he said apart from enabling the Executive to implement the budget easily, it accelerates economic development especially now that ‘we are in economic recession’.
He stated that early signing enables the Debt Management Office to plan for alternative sources of funding the budget, especially with its over N5 trillion deficit.
He noted that when the government starts early implementation, it gives more room for completion of projects early and timely.
He said the early signing and implementation of the budget would create opportunities for the private sector especially, manufacturing sector to plan ahead and position for growth and economic recovery.
According to him, signing the budget into law early is good but the failure of the government to do the needful by implementing the budget early would not add any value to the economy.
He said the government needs to inject funds into the system to increase liquidity, boost business activity and create job opportunities in the country.
He said for the country to achieve meaningful development, there must be job creation, high level of protection of lives and properties, stressing that without making enough provisions for job creation and securities, there would be no development because there would be a lot of distractions from the background.
He said that “allocation of money for security and creating openings for employment is good but not enough”, adding that “the government needs to adopt an evaluation mechanism and strategy for monitoring everything they are doing to achieve expected results at the end of the day.”
