The Association said the continuous delay in budget passage year-on-year is worrisome, and continues to be a major source of concern for the private sector. Expressing his concern, the Director-General of NECA, Timothy Olawale, who described as disheartening, the continuous delay, said the importance of quick passage of the budget cannot be over-emphasised, as it plays a very critical role in economic development. “In Ghana for instance, the budget for the 2019 fiscal year was approved in November 2018. In Ethiopia, the budget for the 2018-2019 fiscal year was approved few days before the commencement of the fiscal year in July 2018. Similarly in Egypt, the budget for their 2018-2019 fiscal year was approved about a month to the commencement of the fiscal year.

Source: The Guardian February 07, 2019 03:56 UTC