FG can still Stimulate Investments with 2015 budget-Remi Bello, President LCCI

Despite the revenue shortfall, occasioned by the oil slump at the global arena, the Federal Government can still perform wonders with this year budget. According to Alhaji Remi Bello, the President of Lagos Chamber of Commerce and Industry (LCCI), government can do this if it cuts its coat according to its cloth. He advised that a sincere commitment to austerity measures, cost reduction and economic diversification is the magic wand needed to achieve this feat.

Hear him: “Times like these call for utmost prudence and curbing of leakages.The prevailing economic situation necessitates that the budget should be structured to ensure cost savings, optimal revenue generation, fiscal efficiency and curbing of fiscal leakages. The budget at this time should also seek to create an enabling environment and stimulate investments to ensure the diversification of the economy.” At a briefing in Lagos where Bello articulated the position of his chamber on the Appropriation Bill, he also warned politicians to behave themselves during the forthcoming elections, political and social instability could send wrong signals to investors.

Excerpts: