Home News Reps may pass MTEF as panel presents report

Reps may pass MTEF as panel presents report

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The House of Representatives is scheduled to consider the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper today.

The Speaker, Femi Gbajabiamila, made the announcement at the plenary on Wednesday.

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He said, “All members of the Committee on Finance to meet today with the Chairman (James Faleke) so that they will get ready for the presentation of the MTEF tomorrow (Thursday).”

However,our correspondent learnt that the House might adopt the report after its presentation.

President Muhammadu Buhari last week transmitted the document to the National Assembly for approval.

In the letter to the House read by the Deputy Speaker, Idris Wase, who presided over the plenary last week Wednesday, Buhari called for expedient action on the proposal, which is expected to be approved by the parliament before the appropriation bill is transmitted to the legislature by the President.

Wase had referred the MTEF/FSP to the Committees on Appropriations and Finance for further legislative action.

The President’s letter read in part, “Pursuant to the provisions of the Fiscal Responsibility Act 2007, the preparation towards the submission of the 2020 budget to the National Assembly is progressing well. The MTEF/FSP was prepared taking into account key developments in global and domestic environment. We have endeavoured to ensure that forecasted revenues are realistic and also reasonably challenging in the face of our significantly constrained fiscal space.

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“Planned spending has been set and proved at sustainable levels consistent with the government overall developmental objectives and set out in the Economic Recovery and Growth Plan. Given our shared objectives offer returning the budget to predictable January to December fiscal year with effect from 2020.


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