President Muhammadu Buhari on Wednesday submitted the 2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the Senate.
President Buhari forwarded the MTEF and FSP in a letter addressed to the Senate President.
In the letter, President Buhari said the 2020-2022 MTEF FSP was prepared taking into account key developments in the global and domestic environment. He added that he is trusting that it will be expeditiously considered by the Senate.
“It is with pleasure that I hereby submit the 2020 – 2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) to the Senate.
“Let me use this medium to express my gratitude for the much-improved partnership between the legislative and the executive arms of the Federal Government in our goal of making the budget process deliver better outcomes for the Nigerian people in particular.
“I note with further appreciation, the commitment and support that Distinguished Senators have continued to demonstrate. Pursuant to the provision of the fiscal responsibility Act 2007, the preparation towards the submission of the 2020 budget to the National Assembly is progressing well,”the letter reads.
Senate President Ahmed Lawan earlier last week said the Upper Chamber is anxious to receive the MTEF and 2020 Budget from the executive and promised that the Senate will consider the MTEF within the first week of resumption.
“We hope to take on the MTEF within the first legislative week. Our committee on Finance will be saddled with its first major responsibility that it works expeditiously on the Fiscal Strategy Paper/Medium Term Expenditure Framework’s request of the executive arm of government and thereafter the budget will come after that,” the Speaker said.