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Buhari forwards 2022-2024 Medium Term Expenditure Framework to Senate

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President Muhammadu Buhari on Tuesday forwarded the 2022-2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the Senate for approval.

The Senate President, Ahmad Lawan, read the President’s letter at the plenary.

The development came just one week after President Buhari forwarded 2022-2024 MTEF to the House of Representatives for similar action.

In the letter, he commended the upper legislative chamber for its commitment towards sustaining the restoration of the January to December financial timeline under the 9th Assembly.

The President stressed that the timely passage of the MTEF would facilitate the early preparation of the 2022 budget based on approved parameters.

The letter read: “It is with pleasure that I forward the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper for the kind consideration and approval of the distinguished Senate.

READ ALSO: Nigerian govt approves 2022-2024 MTEF

“Let me use this medium to express my deep gratitude for the enduring collaboration and commitment of the leadership and distinguished Senators in our collective efforts to sustain the restoration of the January to December Financial year.

“On our part, we have worked very hard to sustain the early submission of the MTEF/FSP.

“This is to allow the National Assembly sufficient time to perform its important statutory duty of reviewing the framework and strategy paper.

“I herewith forward the 2022-2024 MTEF/FSP, as the 2022 budget of the federal government will be prepared based on the parameters and fiscal assumptions of the approved 2022-2024 MTEF/FSP.

“I seek the cooperation of the National Assembly for expeditious legislative action on the submission.”

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