Daily Independent (Lagos
17 March 2011
The harmonized version of the 2011 Appropriation Bill passed by both chambers of the National Assembly on Wednesday has continued to receive knocks from commentators, who see it as another big bazaar that would not positively impact on the lives of average Nigerians, partly because of inflationary concerns.
Commenting on the bill in a media chat with finance journalists on Thursday in Lagos , Rhazia Khan, Regional Head of Research, Africa , at Standard Chartered Bank Limited, lamented "the very strong rise in government spending without necessarily anything to show for it."
Government, she believes should focus rather on the efficiency of the spending profile. One way to go about this, she believes, is for government to ring-fence its oil revenue; pretend it does not exist and try to carry on.
By so doing, she believes, there will be increased attention to none-oil revenue, particularly agriculture, thereby shifting away from a non-renewable resource such as oil.
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