President Muhammadu Buhari on Tuesday forwarded to the Senate, the 2017, 2018 and 2019 Medium Term Expenditure Framework and Fiscal Strategy Paper, MTEF & FSP for discussions and subsequent approval.
President Buhari, in his letter to the senate, said that preparation by the Executive towards the submission of the 2017 budget to the National Assembly was in progress.
He urged Senate to expeditiously approve the document so as to move the 2017 Federal Budget process forward.
President Buhari’s letter which was read at plenary by Senate President, Bukola Saraki, reads: “I am pleased to submit the 2017-2019 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the National Assembly. Let me use this medium to express my gratitude for the enduring partnership between the legislative and the executive arms of government.
“In particular, I note with appreciation the committment and support that distinguished senators have continued to demonstrate with respect to the preparation passage and implementation of the federal budget. “Pursuant to provisions of the Fiscal Responsibility Act of 2007, the preparation towards the submission of the 2017 budget to the National Assembly is progresing well.
“The MTEF and FSP which provides the framework for the development of the 2017 budget was designed against the backdrop of a generally advanced global economic environment as well as fiscal challenges in domestic economy.
“In this regard the 2017-2019 MTEF and FSP articulates the Federal Government economic, socio and developmental objectives as well as the strategies for acheiving this divine objectives and priorities.
“I hereby forward the 2017-2019 MTEF and FSP to the distinguished senate and trust that it will be kindly considered, expediously approved so as to move the 2017 Federal Budget process forward.
“Please accept the distinguished senate president the assurances of my highest consideration.”
Read more at: http://www.vanguardngr.com/2016/10/buhari-forwards-2017-2018-2019-mtef-fsp-senate/