NACCIMA worries over increased recurrent expenditure

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The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture has expressed worry over the significant rise in the recurrent expenditure in the proposed 2017 budget, which was recently presented to the National Assembly by President Muhammadu Buhari.

The National President, NACCIMA, Chief Bassey Edem, stated this during a press briefing held to review the state of the economy on Thursday.

While observing that the proposed budget paid close attention to capital expenditure in the area of rapid infrastructural development, Bassey, however, noted that such a significant increase in recurrent expenditure might signal an increase in the nominal wage of government workers.

He said, “It may signal an increase in the number of government workers against the backdrop of the elimination of ghost workers from the government payroll. Unless this is seen to translate to increased employment opportunities.

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