What Tinubu must do to make the 2024 budget work

Omoruyi Edoigiawerie East A commercial enterprise lawyer with skill In to start up technology And artificial intelligence (AI). In This interview with TOPE TEMPLOR OLAÏYA, Edoigiawerie, WHO East Also THE Lead Partner has Edoigiawerie And Business (E&C Legal), speak on THE 2024 budget And how Nigeria can move far Since A consuming economy has A manufacturing economy, among other burning problems.

What East your analysis of THE N28.7 thousand billion 2024 budget recently sign In law by President Bolas Tinubu And how will he impact THE common guy?i think that It is A little Also early has talk about THE impact on THE common man, but more has look has THE body language of governance THE budget has brought has THE Before. Let's go look has THE won And THE losses. If You look has THE won, THE GOOD thing will be that THE recurrent spent East reduced, And that capital spent, which East What will advantage THE common man, has A improvement.

However, there East always A deficit Again And THE deficit East less that What he was In 2023.This will be THE First of all time that We will to have that reduced margin. But What will affect THE common man will be A impactful Implementation of What THE government has said he East going has TO DO. If THE government said What he wanna has devote has education East N10, will that N10 net down has THE students Or teachers In THE Classroom Or will he be lost In THE air of bureaucracy, Corruption, nepotism And THE as? I think that East Or We to have permanently failed.

THE issue with OUR budgeting In This country has has been THE Implementation. I am happy that THE President has together up A Special Unit headed by Hadiza Bala Ousman with THE primary objective of monitoring And assess all THE ministries And interdepartmental agencies because Since What We can see, THE budget desk has not has been up has speed In impact assessment. THE budget East GOOD; he talks of THE Renewed Hope Agenda. We are hoping that he will be implemented adequately And For someone In THE commercial space, I am excited about THE N100 billion stability funds For MSME.

What are THE consequences For on a small scale companies?If You look has last year Since January has October, businesses, little businesses, took loans of N750 billion Since banks as survival funds. These were not funds For expansion; they were not funds For walk penetration. These were just funds has stay alive, which watch A very serious issue. He East GOOD that THE government East corking In he; N750 billion East not a lot, but What We should to focus on East ensure that THE government puts Nigeria In A position Or We can attract appropriate Stranger Direct Investments (IDE).

In THE last A Or two years, THE contribution of IDE has OUR economy, OUR GDP, East barely A by hundred. For A country as Nigeria, which has on 200 million people, A based on consumption economy East not GOOD because if We are produce Or consuming, We should be able has attract better IDE. THE World Bank has said We to have three key challenges, which are lack of financial tools has absorb shocks And stress, of construction defaults And insecurity. These are THE key things that are hinder investments And THE President has has been very franc on her push For investments. He has often said: "You know I to want has attract Investors, Nigeria East open For business." He East fantastic but he is obtained has match her words with action.

If I say My House East available For You And You are excited about future has My House, SO I must ensure that THE road You pass has My House East motorized; I must ensure that on your path has My House, they won't beat You up; I must ensure that When You get has THE House he will be auspicious enough, that there East light SO that You will not be sweat as You are eat. I must Also ensure that if You bring things has My House there East security.

Beyond that, Nigeria remains A solid destination because despite these challenges, investors always come In their Numbers. Go has THE Murtala Mohammed International Airport In Lagos Or THE NnamdiAzikiwe International Airport In Abuja, And ask For THE data of stranger nationals WHO come In This country every day; You will be shocked. He simply means they see something In This country that We probably are not seeing. Imagine Or We create A appropriate allow environment For them And how they will rushing in.

But In concrete terms, What should THE government TO DO has attract IDE? When You are look has attract investments, You must look has THE ease of TO DO business. Yes, We to have THE Business Facilitation Act, which try has streamline THE process For regulation In THE to start up ecosystem, Or I prosper. I pushed next to other private sector players For THE promulgation of THE Nigerian To start up Act that was promulgated on A year There is, but THE Implementation East always slow.

THE government must NOW give THE required policy will And push This laws...