Nigeria: Textile Manufacturers Urge NASS to Expedite Budget Passage

The Nigerian Textile Manufacturers Association (NTMA), has urged the National Assembly to aid economic growth by not reneging on its pledge to pass the 2018 Budget on May 16.

The Director-General of NTMA, Mr Hamma Kwajaffa, made the plea in an interview with the News Agency of Nigeria (NAN) in Lagos on Thursday.

NAN reports that the Senate Spokesman, Sen. Aliyu Abdullahi, had disclosed on May 9 that the Senate Committee on Appropriation was working to ensure the budget report is laid on May 15, while approval done on May 16.

President Muhammadu Buhari had on Nov. 7, 2017, presented N8.61 trillion as the 2018 Appropriation Bill to a joint session of the National Assembly.

Kwajaffa noted that delayed budget had hindered government’s spending on capital projects and postponed the multiplier effect of such spending on the real sector and the citizens.

“The Executive Order on support for local content in public procurement by the government has been on hold for a while because most ministries and agencies do not have funds or capacity for major purchases.

“Many textile manufacturers had produced lots of uniforms and garments in expectation of government purchase but most of these items constitute unsold inventories in our warehouses.

“The delayed budget is not only grave for the economy; it has impacted negatively on the citizens,” he said.

Kwajaffa urged the National Assembly to uphold its pledge of budget approval toward stimulating economic growth, job creation and enhanced production.

He emphasised the need to adhere to budget timelines, appropriate coordination and planning toward creating seamless budget passage process in the country. (NAN)

 

Posted by on 10/05/2018. Filed under Development, Economy, News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Please Leave a Reply