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How 2018 budget delay is seriously endangering the lives of innocent Nigerians- Financial Experts cries out

Delay of passing 2018 budget has become a headache for Financial experts as they lament on Thursday.

The financial experts voice out their worry in separate interviews with the News Agency of Nigeria (NAN), in Ota, Ogun.

Dr Samuel Nzekwe, a former President, Association of National Accountants of Nigeria (ANAN) said that the delay had created confusion within the system because there was no way the economy could experienced a headlight.

Nzekwe said, “There is no liquidity in the system and this has affected the nation’s capital market as the government is the biggest spender in any economy.

“People do not have sufficient funds to throw around by investing in the stock market as they used the little they have to keep the body and souls together.”

On his part, Dr Titus Okunronmu, former Director, Budgetary Department, Central Bank of Nigeria (CBN), noted that the passage of the national budget had in the last three years suffered unexplainable delays.

Okunronmu lamented that there was no country where budget passage is being delayed until May.

“This development will obviously affect Medium Term Programmes as well as slow down economic development in the country,” Okunronmu said.

The former CBN director, however, advised the Federal Government to put its home in order, do the right thing at the right time so that meaningful development could be achieved in the country.

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