Senate receives MTEF/FSP report, awaits 2020 budget next week

President of the Senate, Ahmad Lawan

Senate President Ahmad Lawan.

 

The Senate on Thursday received the report of its Committee on Finance and National Planning on the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP).

The report was laid before the Senate by the Chairman of the Senate Committee on Finance, Senator Solomon Adeola, who also moved for the report to be considered.

In the document, the Federal Government proposed the sum of N10.002trillion as the 2020 Appropriation Bill and the sum of N2.45trillion for debt service for next year.

The Senate had on September 25 received the 2020-2022 MTEF/FSP from President Muhammadu Buhari and on September 26th, referred the document to its committee on Finance to report back on Wednesday, October 2.

Lawan, however, appealed to his colleagues to note that the report has been harmonized between the Senate and the House of Representatives who worked on the report jointly.

He said there was need to speedily consider and approve the report to be able to catch up with the presentation of the budget early next week by Buhari.