Buhari forwards MTEF to senate
President Muhammadu Buhari has forwarded to the two Chambers of the Senate, the 2020-2022 Medium Term Expenditure Framework, MTEF, and Fiscal Strategy Paper, FSP, seeking the legislators’ approval of the document even as the Presidency assures that the 2020 budget will soon be submitted.
Galaxy’s Godfrey Eshiemoghie reports that the fiscal document was received and read in the Senate by its President, Ahmad Lawan at the resumed plenary Wednesday.
The document outlines the Nigerian government’s fiscal policies/strategies and macroeconomic projections for 2020 - 2022 which provides the broad framework for the annual budget in line with the Fiscal Responsibility Act (FRA), 2007.
The key thrusts of the 2020 - 2022 MTEF Fiscal Strategy Paper are consistent with the goals of the Economic Recovery and Growth Plan aimed at sustaining growth and diversifying the productive base of the economy.