Budget 2018: Better days are coming, say experts
THERE is optimism in the land over the 2018 budget.
The hope of a better time is based on the fact that economic indicators have improved.
Crude oil prices are rising and the naira exchange rate is stabilising; the future looks bright for the economy, frontline analyst Ayo Teriba said yesterday.
The Economic Associates chief said: ”I do not think there is much ground for disagreement between the Executive and Legislature. The most important thing is to find the money to implement the budget. The 2017 budget has not been fully funded. The 2017 budget faced revenue challenges because of low oil prices. We did less than $50 per barrel this year. The outlook for 2018 budget should be better. It is based on reality, not assumptions. I am more optimistic about the 2018 budget.”
President Muhammadu Buhari on Tuesday presented an N8.6 trillion “Budget of Consolidation” to the National Assembly.
“It’s realism to expect that 2018 budget will get better funding than the 2017,” Teriba said.
Teriba said whereas the experience of 2017 was better than that of 2016, 2017 saw inflation down but 2018 will be better.
“We should expect things to be better in 2018 than even 2015. We want to see how quickly the National Assembly will pass the budget for implementation. The capital budget for 2017 that remains unimplemented, should be allowed to run in 2018, provided there is adequate cash for their execution,” he said, pointing out that things are looking up for the economy as seen in the rapid appreciation in the foreign reserves and stability in the exchange rate.
To Manufacturers Association of Nigeria (MAN) President Dr. Frank Udemba Jacobs, Buhari should be praised on his promise to build the second Niger Bridge, reconstruct the East-West Road, North East Road and provide infrastructure.
“Most gratifying is the fact that more infrastructure development projects are provided for in the proposed 2018 budget. There is plethora of evidence to support the fact that quantity and quality of infrastructure would directly raise the productivity of human capital, physical capital and hence, economic growth,” Jacobs said.
Ado-Ekiti: The All
Progressives Congress (APC) in Ekiti State has accused Governor Ayodele
Fayose of running a government of deceit.
Read more at: https://www.vanguardngr.com/2017/11/fayose-running-govt-deceit-apc/
Read more at: https://www.vanguardngr.com/2017/11/fayose-running-govt-deceit-apc/
Ado-Ekiti: The All
Progressives Congress (APC) in Ekiti State has accused Governor Ayodele
Fayose of running a government of deceit.
Read more at: https://www.vanguardngr.com/2017/11/fayose-running-govt-deceit-apc/
Read more at: https://www.vanguardngr.com/2017/11/fayose-running-govt-deceit-apc/
Ado-Ekiti: The All
Progressives Congress (APC) in Ekiti State has accused Governor Ayodele
Fayose of running a government of deceit.
Read more at: https://www.vanguardngr.com/2017/11/fayose-running-govt-deceit-apc/
Read more at: https://www.vanguardngr.com/2017/11/fayose-running-govt-deceit-apc/
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