Dr Samuel Nzekwe, former President, Association of National Accountants of Nigeria (ANAN), has hailed the Senate for early passage of N17.12 trillion 2022 budget.
Nzekwe gave the commendation in an interview with our correspondent in Ota, Ogun on Wednesday.
He said the early passage of the 2022 budget by the Senate would help to spur the economy.
Nzekwe said that this was a right step in the right direction as budget was now running in circle from January to December.
“The Federal Government needs to intensify efforts toward working on budget performance of the previous year so that Nigerians could analyse the performances of the budget.”
“In addition, government should reduce the cost of governance so that the budget size could be drastically reduced,” the former ANAN president said.
Nzekwe advised the Federal Government to plan the nation’s budget according to its income so that the debts could be reduced.
The Accountant stressed the need to discourage borrowing to finance recurrent expenditure to stem budget deficit of the country.
Our correspondent reports that the Senate on Wednesday in Abuja, passed the N17.12 trillion budget for 2022.
President Muhammadu Buhari, had on Oct. 8 presented N16.39 trillion budget for 2022 to the joint session of the National Assembly.