Evans Osabuohien, the head of the Economics Department at Covenant University, Ota, Ogun, has commended President Bola Tinubu for promptly signing the N28.7 trillion 2024 budget into law.

Mr Osabuohien said this in an interview in Ota on Tuesday.

He spoke while reacting to the president’s early signing of the N28.7 trillion 2024 appropriation bill into law on Monday.

The economist noted this was a welcome development as the nation finally returned to the normal budget circle.

Mr Osabuohien appealed to the federal government to fight all forms of corruption associated with the budget urgently.

“It is only when all leakages in the system are blocked that the nation can make progress,” he said.

He stressed the need for the federal government to redouble its efforts to increase the country’s revenue base as expenditure outweighed revenue.

He said this was worrisome because of the budget deficits, which led to huge debt servicing.

Mr Osabuohien urged the government to increase the tax net to generate more revenue.

He commended the government for introducing the Central Motor Registration (CMR), saying that more Nigerians paying N5,000 annually per car would boost the government’s revenue.

Mr Osabuohien also emphasised the need to improve the power supply, increase business activities, and create more jobs and revenue for the government. 

(NAN)