The Nigeria Employers’ Consultative Association, NECA has lamented over the continuous delay in the passage of the national budget.
The Director General of NECA, Mr Timothy Olawale, described the repetitive delay as disheartening.
According to a report made available to the punch on Sunday, the DG said “The continuous delay in budget passage year on year is worrisome and continues to be a major source of concern for the private sector.
He further compared the current situation with the early passage of national budget in other neighbouring countries.
“Looking at the trend from 2014, the earliest time the budget was passed was in 2016 and that was in the month of March.
In Ghana, the budget for the 2019 fiscal year was approved in November 2018. In Ethiopia, the budget for the 2018-2019 fiscal year was approved few days before the commencement of the fiscal year in July 2018.
“The stability and predictability of the budgetary process of these countries could be one of the reasons why they are becoming the new desired destination for foreign investments.
