Report on Interest

2020: Senate confirms receipt of MTEF from Buhari

By News desk

Senate President, Dr Ahmad Ibrahim Lawan, has confirmed that President Muhammadu Buhari has forwarded the Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF & FSP) for the next three years to the Senate.

The Medium Term Expenditure Framework and the Fiscal Strategy Paper form the basis for the 2020 budget and required by law to be sent to the National Assembly four months before the beginning of a new fiscal year.

What this implies is that the MTEF/FSP documents arrive one month behind schedule and the lawmakers will need to work harder to cover lost grounds if they hope to meet with the December deadline they set for themselves.

Confirming the receipt on Wednesday, Lawan said the President was seeking Senate’s approval in line with the constitutional provision.

Lawan also inaugurated all sixty-nine standing Committees announced before embarking on two months of annual leave in July with the President of the Senate charging lawmakers to commence action.

It would be recalled that Lawan had on Tuesday said the Senate will pass the 2020 budget by December.

Senate Spokesman, Senator Adeola Adeyeye, also at a press briefing after Tuesday’s plenary insisted that the hearing of the Nigeria’s 2020 budget will begin second week of October, 2019.

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