Two maritime stakeholders said yesterday that the late passage of the national budget had negative impact on the sector.
They told newsmen in Lagos that the late passage of the budget contradicted the aim of rebasing the Gross Domestic Product (GDP).
The President of the Shippers Association Lagos State; Rev. Jonathan Nicol, urged the National Assembly to ensure the speedy passage of the budget before or early in a new year.
Nicol said the delay in approving the budget for more than one quarter had kept a lot of projects pending in the maritime sector.
Two maritime stakeholders said yesterday that the late passage of the national budget had negative impact on the sector.
They told newsmen in Lagos that the late passage of the budget contradicted the aim of rebasing the Gross Domestic Product (GDP).
The President of the Shippers Association Lagos State; Rev. Jonathan Nicol, urged the National Assembly to ensure the speedy passage of the budget before or early in a new year.
Nicol said the delay in approving the budget for more than one quarter had kept a lot of projects pending in the maritime sector.
He said adjustments could be made by the National Assembly for quick passage of the budget.
Nicol said that budget delays had negative impacts 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 delay,” Nicol said.
On his part, the President of Nigeria Ship-Owners Association; Chief Isaac Jolapamo, said that 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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