The Senate on Thursday mandated its committee on Finance to scrutinise the 2020-2022 Medium Term Expenditure Frame Work (MTEF) and the Fiscal Responsibility Paper (FSP) and present its report to plenary next week.
The committee is chaired by All Progressives Congress (APC) Senator, Solomon Olamilekan, representing Lagos West Senatorial district.
President of the Senate, Ahmed Lawan directed the committee to work on the documents after the Leader of the Senate, Abdullahi Yahaya, implored the upper legislative house on the need for the Senate to consider the request by the President to the Senate on the documents.
Lawan said: “The document is hereby referred to the Senate committee on Finance and the should report back and laid before the Senate on Wednesday Next week.”
It will be recalled that the Senate on Wednesday received the MTEF/FSP document from President Muhammadu Buhari in which the Federal Government proposed over N9.12 trillion budget for the 2020 fiscal year with an aggregate fiscal deficit of N2.28 trillion.
Buhari in the letter read to the senators said “I hereby forward the 2020-2022 MTEF/FSP to this Senate and trust that it will be expeditiously considered in order to facilitate the 2020 budget consideration process.”
The President also assures the Senate that budget preparation by the executive is going on well.
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