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A financial expert, Godwin Anono, on Tuesday advised the Federal Government to increase budgetary vote for critical infrastructure from 30 to 45 per cent in 2017.
Anono, the Chairman, Standard Shareholders Association of Nigeria, told the News Agency of Nigeria (NAN) in Lagos that the increment was necessary to revamp critical infrastructure.
He also advised that the vote should be released immediately to drive private sector investments.
According to him, quick releases of votes will help to re-inflate the economy.
Anono said the bureaucratic bottlenecks that hindered quick disbursement of funds should be checked to ensure quick release of the votes.
He said that more investments in agricultural processing and mining plants would re-jig the economy and change the economic situation in a short while.
“The agricultural processing plants will package perishable foods and reduce importations of similar items and create employment opportunities for the teaming youths.
“The mining sector’s potential will be realised and can change the heavy reliance on hydrocarbon which is on the decline in the international market,” he said. (NAN)
