Nigeria’s budget aims at reviving dying economy – Legal practitioner

The long awaited 2016 budget which was finally signed by President Muhammadu Buhari recently should be aimed at rescuing the country’s dying economy to meet the expectations of Nigerians.

Speaking in Jos, the Plateau State capital, Mr. Lawrence Anya said it is expected that the budget should be able to revive the country’s dying economy.

According to him, “The Federal Government should release funds to relevant ministries to enable contractors to get pay for projects executed. Also, projections has been made and monies should go into those projections to enable the implementation. That it is one thing to sign the budget, and another huddle is to implement it”, he said.

Anya said it takes another huddle to inject funds into the economy even when budget is signed, hoping that however, it is expected that funds will be injected into the economy for it to pick up.

When asked if the high cost of commodity in the market that has risen over 100% will drop should funds be injected into the economy, the legal practitioner said it is almost impossible.

His words: “We live in a country where we constantly experience spiral inflation where prices of commodities goes up and never come down, except only when commodity are pushed in the market which is usually not the case. If for instance, rice is massively pushed into the market, it will force the price of rice to come down.”