Friday, August 14, 2020

2020 revised budget realistic assumption -Prof. Uwaleke

Must read

Anambra: PDP endorses Nwobu led-state working committee

The National Working Committee (NWC) of the Peoples Democratic Party (PDP) on Friday upheld the elections of Sir Ndubisi Nwobu-led State Working Committee ...

Four killed in small plane crash in eastern DR Congo – Governor

A small plane has crashed in the east of the Democratic Republic of the Congo, killing all the four people on board, the governor...

WASSCE: School leaders in Ibadan express views

No fewer than two leaders of secondary schools in Oyo State have expressed concern about the conditions of classrooms in the schools for the...

Edo governorship election: INEC trains visually impaired on use of braille ballot guide

The Independent National Electoral Commission (INEC) in Edo, on Friday trained visually impaired persons on the use of braille ballot guide to vote in...




Prof. Uche Uwaleke, an experts on Finance and Capital Markets at the Nasarawa State University Keffi, has described the 2020 revised budget signed by President Muhammadu Buhari as a realistic assumption.

Uwaleke stated this when he appeared on Channels news at 10, monitored by the News Agency of Nigeria (NAN) on Friday.

NAN recalls that Buhari on Friday signed the revised N10.8 trillion 2020 budget into law.

He said the president needed to be commended for coming up with a realistic 2020 revised budget.

The economist said the benchmarks were realistic as well as allocation of resources in the estimate.

He noted that the allocation reflected the government’s priorities, adding that in the breakdown, work and housing, transport, power and agriculture had the largest share.

“The 2020 revised budget is a child of necessity, in the sense by now, we would have been six months into the implementation of the budget.

“Again that brings me to commend the Federal Government’s effort in restoring the budget cycle from January to December but just that COVID-19 is affecting this one.

“That the budget is high or higher than what was initially presented, it is expected, in a period of recession, we wouldn’t be reducing spending, if you want to stimulate the economy and avert a severe recession as being projected, the option is to spend,” he explained.

Uwaleke, however, commended Buhari for giving a marching order to the Minister of Finance, Budget and National Planning to ensure MDAs got at least 50 per cent of their capital allocation before the end of the month.

He said that with this development, a significant implementation would be recorded before the end of the year.

He, therefore, advised the government to revisit recurrent expenditures and make some amendments by reducing budget on contingencies, outsourcing services, international sporting events and defence among others. (NAN)

  




Contact: info@fellowpress.com

Vietnam’s total automobile sales in the first seven months of this year stood at 131,248 units. This indicated a year-on-year plunge of 28 per cent,...
The British economy is in recession after contracting a record 20.4 per cent in the second quarter as the coronavirus crisis took hold, the...
Fidelity Bank Plc. has announced the appointment of Mr Mustafa Chike-Obi as the Chairman of the bank. Chike-Obi, who is currently Executive Vice Chairman at...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members to sell petrol at the old rate of N143 per litre, pending...

More articles

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

The Ebonyi Government has ordered members of the Judiciary Staff Union of Nigeria (JUSUN) in the state, to immediately suspended their industrial action or...
The Federal Government has called for social dialogue between the employers and the employees in the Aviation industry to prevent job losses. Sen. Chris Ngige,...
The National Film and Video Censors Board (NFVCB) has seized and destroyed pornographic and other unapproved films and video works worth N3.5 billion in...
Some yet-to-be-identified gunmen have killed a member of the Bauchi State House of Assembly representing Baraza Dass constituency, Honourable Musa Mante. Confirming the incident, the...

Must Read

Anambra: PDP endorses Nwobu led-state working committee

The National Working Committee (NWC) of the Peoples Democratic Party (PDP) on Friday upheld the elections of Sir Ndubisi Nwobu-led State Working Committee ...

Four killed in small plane crash in eastern DR Congo – Governor

A small plane has crashed in the east of the Democratic Republic of the Congo, killing all the four people on board, the governor...

WASSCE: School leaders in Ibadan express views

No fewer than two leaders of secondary schools in Oyo State have expressed concern about the conditions of classrooms in the schools for the...

Edo governorship election: INEC trains visually impaired on use of braille ballot guide

The Independent National Electoral Commission (INEC) in Edo, on Friday trained visually impaired persons on the use of braille ballot guide to vote in...

NGO trains journalists virtually on TB reportage

Breakthrough Action Nigeria (BAN), an NGO, has trained journalists virtually across the country on how to report tuberculosis (TB)-related diseases. The training, which featured journalists...

Ogun SUBEB to understudy BESDA implementation in Oyo State

The Ogun State Universal Basic Education Board (Ogun SUBEB) says it will understudy the implementation of Better Service Delivery For All (BESDA) in Oyo...

Nightlife shut down in Italy’s Calabria as coronavirus numbers rise

Clubs and beach party locations have closed in the Italian region of Calabria due to a rising number of coronavirus infections. Dancefloors indoors and outdoors...

COVID-19: NCDC, ICRC to train 25 Anambra doctors on infection prevention, control

The Nigerian Centre for Disease Control (NCDC) and International Committee of the Red Cross (ICRC) plan to train 25 doctors in Anambra on Infection...

Philippines Govt. orders face shield, in addition to face mask at work, in transport

The Philippine government has ordered people to wear face shields in addition to masks at work and on public transport in order to help...

Ebonyi Govt threatens to sack striking judiciary workers

The Ebonyi Government has ordered members of the Judiciary Staff Union of Nigeria (JUSUN) in the state, to immediately suspended their industrial action or...