2020 Budget: Experts commend Buhari on early presentation

News Agency Of Nigeria

October 8, 2019 5:34 PM

Some financial experts have commended President Muhammadu Buhari for the early presentation of 2020 Budget to the National Assembly.

President Muhammadu Buhari presents the 2020 National Budget to a joint Session of the National Assembly. Oct 8 2019 (Twitter/NTA)

They made the commendation in separate interviews with the News Agency of Nigeria (NAN) in Ota, Ogun, on Tuesday.

NAN reports that Buhari, presented the 2020 budget to the Joint session of the National Assembly Tuesday in Abuja.

Dr Samuel Nzekwe, a former President of Association of National Accountants of Nigeria (ANAN), said that early presentation of the budget was a welcome development that could boost economic activities in the country.

“If the annual budget is signed early, it will make the country to go back to January-December cycle which would have positively impacted on the economy by making funds available to contractors.

“People selling items of capital nature will start selling, which make the economy vibrant,” he said.

The former ANAN president advised Ministries, Agencies and Department to be available to defend their budget so as to ensure early passage of the budget.

He further said that the early presentation of the budget would make the nation to effectively measure its performance.

ALSO READ: Read the full text of President Buhari's N10.33trn 2020 budget

Nzekwe commended the National Assembly for approving the Medium Term Expenditure Framework for 2020 to 2022 on Oct.3.

Dr Titus Okunrounmu, a former Director, Budgetary Department of Central Bank of Nigeria (CBN), described the development as the right step in the right direction.

Okunrounmu said that the development would bring about positive development on the economy.

News Agency Of Nigeria