Encomium
‘It’s frustrating businesses’
Months after the 2014 budget was transmitted to the National Assembly where it was passed, President Goodluck Jonathan is yet to sign it into law.
Considering the fact that we are in May already, entrepreneurs are now worried about the situation. Here are their views…
AYO BALOGUN
It’s a serious issue that must be looked into with sincere attention. I don’t even know the kind of government we’re running in Nigeria. First quarter has ended, yet 2014 budget has not been passed into law. It’s sad. It’s really affecting my business because those that will spend their money are yet to know the direction of their businesses for the year because their activities depend largely on Federal Government’s plan. So, those of us who are end receivers suffer the most.
TOKUNBO AKINBOBOLA, Akinbobola Properties
It’s slowing down the economy. Many businessmen don’t want to spend and because of this there is little money in circulation.
We are into properties and sometimes transactions are done in foreign currencies. Once the budget is delayed all this would not be possible. Presently, business is not doing fine because of this. There are so many opportunities in the real estate sector but if there is no money, there will be no business.
LAWRENCE ONWUKWEM, Lawrence & Company Ltd.
I am not happy that the Federal Government is yet to have a budget when the year is almost half spent. This is definitely slowing down business. The budget, like we all know is very important in the economic life of the nation.
LINDA AMAKA IKE , Linda’s Pot
It is quite unfortunate that the 2014 budget has not been signed by President Jonathan. I wonder what is going on. Are you sure you are not referring to 2015 budget? If it is true the 2014 budget has not been signed into law, then there is a problem here.
Business would certainly be affected because the budget plays a critical role in allocation of factors of production.
KAYODE ALFRED, Pressing Times Laundry and Cleaning Services
The effect is that money will not be much in circulation. When there is no money in circulation, business will be dull. So the delay in budget is seriously affecting us. Our clientele base has reduced, because there is no money. When the budget is signed into law things will get better.
DEMOLA ADUNOLA
It’s not good for a growing economy like ours. Delay in passing the 2014 budget is a bad economic signal and it will definitely have negative impact on business plan for the year.
As an entrepreneur, your plan for each year depends largely on the budget. We believe President Jonathan should act fast before another quarter ends.
TUNMISE OGUNBEKUN, X5 Media Concepts
Frankly speaking, the way our government handles important matters is appalling. They make it look trivial. It has not entirely affected my business because whether budget or not, I have my business plan for the year mapped out.
GBENGA ALAKE, Perfect Event planner
It hasn’t affected me in any way, because even if the budget has been passed, implemented or not, things will still remain the same due to what is happening within the politicians and Nigeria as a nation.
