Budget implementation could pull Nigeria out of recession – Expert

A Financial Analyst, Mr Emmanuel Eze, yesterday said full implementation of the N1.7 trillion capital budget would pull Nigeria out of recession.

Eze, Chief Executive Officer, Perfecta Investment Trust, told newsmen in Lagos that the economy would turn around if the capital allocation is fully disbursed.

He said that disbursing the funds for the project such as modern railway network and building of new roads was imperative to stimulating the economy.

“Stimulating the economy through earmarking of funds to key infrastructure is the panacea to our current economic woes.

“The economy will gradually edge out of recession and the gross domestic products will be improved upon,’’ he said.

Eze said that the National Assembly should grant accelerated passage of the 2017 budget to allow for the quick disbursement of funds.

“Only quick allocation of funds to ministries, department and agencies of government will ensure reprieve in the economy.

“Adequate evaluation and monitoring should be carried out often by the various committees of the national assembly to ensure that proper implementation takes place,’’ he said.

The expert advised the Federal Government to improve the ease of doing business in the country, to encourage more private sector involvement in driving the economy.