UFOMBA UZUEGBU, Asst News Editor
Nigeria Employers Consultative Association (NECA) today, expressed worry over the perennial delay in the passage of the country’s annual budget and appropriation process.
The President of the body, Mr Larry Ettah, who voiced the concern of members, while speaking at NECA’s 59th Annual General Meeting (AGM) in Lagos, also charged government to look beyond the seeming good performance of a handful “big” businesses in gauging the state of the economy.
Addressing the shareholders and other social partners of the group, Ettah warned that no sustainable growth could take place in the nation’s economy without effective implementation of the budget
He said: “While we commend adherence to the values of diligence, thoroughness and transparency in our budgetary process, we expect all arms of government to henceforth, subscribe to the standard of ensuring timeliness in the budget.
“There is nothing that should prevent the budget of the following year from being ready before commencement of that fiscal year.”
On the nation’s harsh business operating environment, Ettah noted that the mortality rate of micro, small and medium scale businesses was alarming, saying, “if we going to get a firm grip of the panacea to the high youth unemployment in Nigeria, then we must pay heed to the imperatives for sustainable enterprise”.
Speaking also at the occasion, the President of the Nigeria Labour Congress (NLC), Comrade Ayuba Wabba blamed the current national economic crisis on what he descried as irresponsible, mismanagement of the economy over the years by the nation’s governing elites.
He said : “ The way corruption was allowed to eat into virtually every fire of our national life by the governing class across the political spectrum meant that in due time, we would find ourselves in the Herculean mess we are currently in, today.”