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2020 Budget: LCCI, NECA Hail Early Passage, Kick Against N305 Exchange Rate

The Lagos Chamber Of Commerce And Industry (LCCI) and the Nigeria Employers’ Consultative Association (NECA) yesterday commended the Federal Government for the presentation of the 2020 Budget estimates to the National Assembly.

LCCI Director General, Muda Yusuf, in a statement made available to DAILY INDEPENDENT, said the timely passage of the budget would help the country to implement relevant projects it intends to carry out and reduce the pressure of economic uncertainty that have characterise the exercise over the years.

According to him, “It is laudable that the Executive arm of government and the National Assembly have demonstrated an unequivocal commitment to the return to the January – December cycle for the federal government budgets. This is good for planning by key players in the economy. It would also reduce the uncertainty that has characterized the late presentation and passage of the budget in recent years.”

However, Yusuf expressed reservations on the proposed exchange rate of N305 announced by the President.

Mr. Timothy Olawale, the Director General of NECA, while speaking to the Press in Lagos, stated that “The early presentation of the budget to the legislature is highly commendable even though there is room to improve further on the timeline.

“It is hoped that the Legislators will also do the needful by expediting action on treating the budget with the good of the citizenry as the sole driver. Our expectation is that the budget should be back to the President for assent or comments on aspects that require tinkering with by second week in December, so that by the first week of January 2020, it would be ready for implementation.

The post 2020 Budget: LCCI, NECA Hail Early Passage, Kick Against N305 Exchange Rate appeared first on Independent Newspapers Nigeria.

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