Former President, Association of National Accountants of Nigeria (ANAN), Dr Samuel Nzekwe, has advised the Federal Government to ensure enormous investments in infrastructure to provide growth in the nation’s economy.
Nzekwe gave the advice in an interview with the News Agency of Nigeria on Wednesday in Ota, Ogun, while reacting to President Muhammadu Buhari’s Tuesday’s presentation of N8.61 trillion 2018 Budget to the National Assembly.
‘‘Massive investment in infrastructure would create enabling environment for the productive sector to thrive and produce at optimal level,’’ he said.
Nzekwe opined that there was little improvement in the power sector in 2017, saying this had made it difficult for the productive sector to contribute maximally to the nation’s Gross Domestic Product (GDP).
He also implored the Federal Government to work harder on the implementation of 2018 Appropriation Bill, to improve the living conditions of the people.
Nzekwe, however, noted that the capital expenditures in the proposed 2018 budget were still very nominal, saying this might not positively impact on the nation’s infrastructure development.
He said that servicing the nation’s debt with 25 per cent was not ideal for any economy that wanted to achieve inclusive and sustainable development.
He, therefore, advised the Federal Government to address the huge recurrent expenditures, to have more funds for infrastructure development.