The National Assembly has been urged to expedite action on the 2017 budget to tackle the current recession.
A former Director of the Economic Research Department of the CBN, Mr Chris Nemedia who made the call in an interview in Lagos on Wednesday, said there was need for the assembly to give accelerated hearing to the budget.
He argued that tackling the bureaucracies of the budget was necessary to facilitate faster passage of the budget to avoid mistakes of the past.
The former CBN chief noted that approving the budget within the appropriate time would enable the executive arm of government to disburse funds to critical aspects of the economy.
“The National Assembly members should carry out their constitutional roles, which comprise critiquing and infusing their inputs.
“However, this exercise should be done in good time to ensure that the economy could rebound as quickly as possible,’’ he explained.
Nemedia suggested that over two trillion naira should be allocated to key sectors of the economy to pull the country out of recession.
“Investing in key infrastructure and massively in agriculture and its value chain will improve the status of the economy.
“This will help to address issues of unemployment and other related problems,’’ he stated.