The Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Government to put drastic economic measures in place, in order to help the country cushion the effect of falling crude oil prices. The chamber suggested further scrutiny in the way public funds are spent. In a statement by its President, Alhaji Remi Bello, the LCCI commended the Federal Government for the fiscal and monetary policy measures taken so far to stabilise the macroeconomic conditions and minimise dislocations. It however asked that some very important additional measures be taken. The chamber noted that there are several budget heads that need serious scrutiny, such as, consolidated revenue fund charges, service wide votes and presidential amnesty programmes. According to Bello, others are: capital supplementation, debt service, refreshments and meals, foodstuffs and catering, honorarium and sitting allowance, welfare packages, as well as repairs and maintenance. “All these budget heads ha...
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