The Senate has received President Muhammadu Buhari’s 2022 to 2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for consideration.
The President of the Senate, Ahmad Lawan, on Tuesday, made this known while reading an accompanying letter with the submission from the executive arm of government.
The President in the letter commended the upper chamber for its commitment towards sustaining the restoration of the Jan. to Dec. financial timeline under the ninth assembly.
The President explained that its timely passage would facilitate the early preparation of the 2022 budget based on approved parameters by the upper chamber.
The letter titled ‘Submission of the Federal Government of Nigeria 2022–2024 Medium Term Expenditure Framework and Fiscal Strategy Paper’ reads:
“It is with pleasure that I forward the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) for the kind consideration and approval of the distinguished Senate.
“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 Jan. to Dec. 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.” it stated.