Saturday, Sep 19th 2020 8:58 PM

Market Digest Nigeria


President Buhari submits MTEF FSP to Senate

President Muhammadu Buhari

President Muhammadu Buhari on Tuesday forwarded the 2021 Medium Term Expenditure Framework and Fiscal Strategy Paper to the senate.

President Muhammadu Buhari

The MTEF/FSP document forwarded to the National Assembly for consideration and approval was accompanied by a letter read during plenary by the Senate President, Ahmad Lawan.

A statement by Lawan’s spokesman, Ezrel Tabiowo quoted the letter as saying: “It is with pleasure that I forward the 2021 – 2023 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) for the kind consideration and approval of the Distinguished Senate.

“Let me seize this opportunity to express my deep gratitude for the cooperation, support and commitment of the leadership and distinguished members of the Senate in our collective efforts to sustain the restoration of the January – December financial year.

“In line with our commitment, we have worked very hard to achieve and earlier submission of the MTEF/FSP. This is to allow the National Assembly enough time to perform its important constitutional duty of reviewing the framework.

“I herewith forward the 2021 – 2023 MTEF/FSP as the 2021 budget of the Federal Government will be prepared based on the parameters and fiscal assumptions of the approved 2021 – 2023 MTEF/FSP. I seek the cooperation of the National Assembly for expeditious legislative action on the submission.”

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