Nzekwe, a former President, Association of National Accountants of Nigeria, gave the commendation in an interview with the News Agency of Nigeria (NAN) in Ota, Ogun, on Wednesday.
The government on Tuesday further reduced the pump price of petrol from N125 to N123.50 due to the COVID-19 pandemic.
The former ANAN president said that the further reduction would cushion the effects of the pandemic in the country.
“This development will make businesses in Nigeria to compete favourably with their counterparts abroad,” he said.
Nzekwe said that costs of goods and services would also come down due to drop in the pump price.
He called on the Federal Government to finance the deficit of the 2020 Budget.
He urged the Federal Government to build road networks and improve electricity.