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Maritime stakeholders rue delay in passage of budget

Maritime stakeholders rue delay in passage of budget
April 24
13:17 2014
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Maritime stakeholders have lamented the negative impact of the late passage of the national budget  on the
sector.

Speaking in Lagos on Thursday, they observed that the late passage of the budget contradicts the aim of rebasing the Gross
Domestic Product (GDP).

President of the Shippers Association, Lagos State, Rev. Jonathan Nicol specifically urged the National Assembly to ensure the speedy passage of the budget before or early in a new year. he warned that delay in approving the budget for more than one quarter will continue stalling work on many ongoing projects in the maritime sector.

“Adjustments could be made by the National Assembly for quick passage of the budget,” Nicol said. “Budget delays always have negative impact on the execution of capital projects.”

He also advised business owners in the country to always make projections ahead of the year, and source funds toward the execution of government jobs.

“We should not blame government over the delay on the budget because the insecurity in the country could be part of the reasons for the delay,” he said.

Chief Isaac Jolapamo, president of the Nigeria Ship-Owners Association, said the re-basing of the GDP provided an insight for the development of the maritime industry.

“The right thing that should be done in the country is to develop shipping activities because developing maritime starts from developing shipping activities,” he said.

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