Prof. Onafowokan Oluyombo, Head, Department of Accounting, Pan Atlantic University, Lagos, on Wednesday said that the proper implementation of 2019 Budget would attract Foreign Direct Investment (FDI) into the county.

Oluyombo made the observation while speaking with the News Agency of Nigeria (NAN) in Ota, Ogun.

NAN reports that the National Assembly had on Tuesday passed the 2019 budget after increasing it from N8.83 trillion to N8.91 trillion.

The don urged the Federal Government to address budget padding by the National Assembly,  to check corruption.

He said the larger account of the 2019 budget should be effectively implemented to achieve the desirable goals in the country.

“The government should also give details of how the 2018 budget was spent since everything in the economy depends on the budget.”

Oluyombo also called on the Federal Government to allocate more funds to Education and Health sector so that the two sectors could perform better.

Dr Samuel Nzekwe, Former President, Association of National Accountants of Nigeria (ANAN), says if the 2019 budget is effective and judiciously  implemented, it would attract foreign investors into the country.

“Honestly, people will see positive changes if the nation’s budget could be implemented to letter, “he said.

Nzekwe urged the Federal Government to intensify efforts in ensuring that signing of annual budget was returned to December and January circle.

The expert called on the government to  critically look into allocations given to education, health and infrastructure development, particularly power.

“The nation needs human capital development to drive the economy and the only way this could be done is to allocate more funds to education.

“Health sector needs good allocations to get it working good and deliver better services to people. “

He advised the government to examine how to drastically reduce funds allocated for debt servicing in the country.

Nzekwe, however, said government should create more ways of generating additional revenues for the country. (NAN)

– May. 1, 2019 @ 11:15 GMT |