President Muhammadu Buhari has forwarded the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) to the senate for consideration and approval.
The Federal Government’s 2021 budget would be prepared based on the parameters and fiscal assumptions of the approved 2021-2023 MTEF/FSP.
President Buhari’s letter seeking the upper chamber’s approval for the fiscal document was read on Tuesday by Senate President, Ahmad Lawan, during plenary.
The president said the early submission was to allow the legislature enough time to perform its constitutional duty of reviewing the framework and sought the senate’s expeditious legislative action on the document.
The letter reads in part: “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 effort to sustain the restoration of the January-December financial year.
“In line with our commitment, we have worked very hard to achieve an 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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