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Senate Receives MTEF/FSP, Budget To Be Presented Next Week

The Committee on Finance and National Planning on the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) has, on Thursday, presented the report to the Senate ahead of the presentation of the budget next week.

The report was presented by the Chairman of the Senate Committee on Finance, Senator Solomon Adeola, before the Senate.

Following the presentation, Senator Adeola moved the motion for the report to be considered.

In the document, the Federal Government proposed the sum of N10.002 trillion as the 2020 Appropriation Bill and the sum of N2.45 trillion for debt service for next year.

The Senate had on September 25 received the 2020-2022 MTEF/FSP from President Muhammadu Buhari and on September 26th, referred the document to its committee on Finance to report back on Wednesday, October 2.

The President of the Senate, Ahmad Lawan, however, appealed to his colleagues to note that the report has been harmonized between the Senate and the House of Representatives who worked on the report jointly.

He said there was need to speedily consider and approve the report to be able to catch up with the presentation of the budget early next week by Buhari.

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