Our budget system won’t turnaround economy – Osinbajo

Vice President Professor Yemi Osinbajo has said that spending nine months on different budget-related processes before projects are carried out will not lead to a turnaround in the economy.

Osinbajo said this yesterday in Abuja at the Stakeholders’ engagement forum on ease of doing business in Nigeria organised by the Presidential Enabling Business Environment Council (PEBEC).

The Vice President said the long period of time taken by the National Assembly to pass the budget and another three months for the procurement processes to be completed cannot move the economy forward.

He said it was time for all Nigerians to be concerned with the time the National Assembly spend before passing the budget.

He observed that it is in the interest of the country that the legislature and the executive arms of government should work together for the good of the people.

The Vice President described Nigeria’s recent elevation by 24 places on the World Bank’s Ease of Doing Business Index as “incredible” and a demonstration that good things can be done with the right people in place.

He said the feat was achieved because the right set of people had been put in place in the Trade Ministry, its agencies and the PEBEC.

He said the federal government would consolidate on reforms to ensure that Nigeria does not relapse on the index.

Read President Buhari’s bdget speech on back page