A University lecturer, Dr Philips Nto has commended the National Assembly for the early passage of the 2024 budget which President Bola Ahmed Tinubu assented to recently.
He was however not happy that the fund earlier allocated to the National Assembly was increased instead of finding a way to reduce the deficit gap in the budget.
Dr Nto who teaches at Michael Okpara University of Agriculture, Umudike, noted that the N1.2trillion increase in the budget by the National Assembly ” would have made significant and positive impact in the economy if it was allocated to sectors that have direct bearing on the masses “
He said by allocating such funds to themselves, the legislators have conveyed the impression that they are more important than
the masses.
Dr Nto, a World Bank consultant and former Commissioner of Finance in Abia State noted that inspite of that indiscretion, the lawmakers deserve commendation for the speedy passage of the budget.
According to him, ” by working hard to ensure that the budget is passed on time to become operational from the first day of the fiscal year, the lawmakers have done well “
He also applauded the National assembly for insisting that the capital expenditure be higher than the recurrent expenditure so as to stimulate the economy for sustainable growth.
” That was what I have been advocating in my interactions with journalists, although I don’t particularly appreciate the sectors the funds were allocated to “, he submitted.
The immediate past Provost of Abia State College of Education, Technical, Arochukwu, urged the executive to ensure orderly implementation of the budget so as to achieve the intended targets.