2016 Budget Will Be Ready End Of March, Says Dogara | Independent Newspapers Limited
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2016 Budget Will Be Ready End Of March, Says Dogara

Posted: Feb 26, 2016 at 6:52 am   /   by   /   comments (0)

Yakubu Dogara, speaker, House of Representatives, on Thursday, said the 2016 budget will be passed by the end of March.

Dogara gave the assurance when Bassey Edem, president, Nigerian Association of Chambers of Commerce, Mines and Agriculture (NACCIMA), paid him a courtesy visit at the National Assembly complex, Abuja.

The speaker rued the migration of businesses to neighbouring countries following lack of infrastructure, reiterating the commitment of President Muhammadu Buhari’s administration towards enacting friendly legislations that would promote the non-oil sector.

Lamenting the spate of illegal mining in some states of the federation, he expressed dismay over the poor regulation of the mining sector, and condemned the exploration of various types of mineral resources unchecked by foreigners especially Bauchi.

He noted that most of the illegal miners take advantage of the weak institutions and legislations to cart away mineral resources worth billions of naira without paying rentals and royalties to government coffers.

He also emphasised the need for the organised private sector to synergize with the present administration in addressing various challenges bedeviling the country, noting that the Federal Government cannot afford to pay lip service any more.

The speaker, who noted that “nobody can guarantee the future of oil”, expressed regrets over the failure of previous administrations to effectively utilize the financial resources accrued from the oil sector to develop agricultural and solid mineral sectors.

“We are actually reaping what we have planted. We have made hard choices and that’s why we are struggling to diversify. By now we would have had streams of income but we have failed to do it,” Dogara lamented.

Speaking earlier, Bassey Edem, NACCIMA president, who expressed concern over the infrastructural challenges, including power supply, noted that the continued neglect of the critical sector would impact negatively on businesses operating across the country, discourage FDI and competitiveness of Nigerian businesses with their counterparts in the neighbouring countries.


Edem, who was flanked by Tony Ejinkonye, President of Abuja Chamber of Commerce and Industry (ABUCCI), also emphasised the need for the House to review all obsolete business related legislations.