The Head of Economics Department, Covenant University, Ota, Ogun, Professor Evans Osabuohien, has commended President Bola Tinubu for promptly signing the N28.7 trillion 2024 budget into law.
According to the News Agency of Nigeria (NAN), Osabuohien said this while reacting to the early signing of N28.7 trillion 2024 appropriation bill into law by the President on Monday.
The economist noted that this was a welcome development as the nation had finally gone back to the normal budget circle.
Osabuohien appealed to the Federal Government to urgently fight all forms of corruption associated with the budget.
“It is only when all leakages in the system are blocked that the nation can make progress,” he said.
He stressed the need for the Federal Government to redouble its efforts to increase the country’s revenue base as expenditure outweighed revenue.
This, he said, was worrisome because of the budget deficits, which led to huge debt servicing.
Osabuohien urged the Federal Government to make efforts to increase the tax net in order to generate more revenue.
He commended the government for introducing the Central Motor Registration (CMR), saying that more Nigerians paying N5,000 annually per car would boost government’s revenue.
Osabuohien emphasised the need to also improve power supply, to increase business activities, create more jobs and more revenue for the government.
