Tag: MTEF
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Key highlights revealed as Senate approves 2025-2027 MTEF/FSP
The Senate, on Tuesday, approved the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
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See breakdown of Buhari’s last 2023 Appropriation Act
* Presents N20.51trn budget estimates, above N19.76trn endorsed by NASS *N10.78trn fiscal deficit of 4.78% above 3% stipulated in FRA *$70 oil price benchmark President Muhammadu Buhari has presented his last 2023 Appropriation Act of N20.51 trillion total expenditure estimates comprising of N10.78 trillion fiscal deficit representing 4.78 percent of estimated GDP, above…
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MTEF 2023 – 2025: Contributory pension scheme hits N14.5trn in 2022 – DG PENCOM
…as Reps query N1.7bn administrative charges The National Pension Commission (PENCOM) has said that the Contributory pension scheme has hit N14.5 trillion. Also, Members of the House of Representatives committee Finance queried N1.7bn spent by the commission on administrative charges. TheNewsGuru.com, (TNG) reports Director General of PENCOM, Aisha Dahiru-Umar, revealed this during the interactive…
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MTEF: FG To Borrow N5.62trn To Finance Deficit In 2022 Budget
…Capital Expenditure Reduced By N259.315bn In 2022 … Exchange Rate Pegged At N410:15/$1US By Emman Ovuakporie The Federal Government has submitted a proposal to borrow the sum of N5.62 trillion to finance budget deficits in the 2022 financial year. The FG also disclosed that it will be cutting down capital expenditure in 2022 by N259.315…
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Reps approve MTEF, FSP for 2020 Budget
From Jonas Ike, Abuja The House of Representatives on Thursday approved the Medium- Term Expenditure Framework MTEF and Fiscal Strategy Paper FSP for 2020- 2022 in preparation for the receipt of the 2020 budget by the Presidency. This was consequent upon the submission, consideration and approval of the recommendations of the Joint Committees on Finance…
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JUST IN: Senate passes 2020-2022 MTEF/FSP
The Senate on Thursday passed the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) submitted to it by President Muhammadu Buhari last week. This followed the presentation and consideration of the report of the Senator Solomon Adeola-led Senate Committee on Finance by the Red Chamber in Abuja. The upper chamber in the approved…
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2020 Budget: Senate yet to receive MTEF from Executives – Lawan
By Emman Ovuakporie … indications of a delayed budget passage There are indications that the 2020 Budget may suffer late passage as the Senate on Tuesday said it’s yet to receive MTEF/FSP draft from President Muhamnadu Buhari. This is however contrary to the provisions of the Fiscal Responsibility Act which mandated the President to submit…
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2019 Budget: Reps Pass 2019-2021 MTEF, FSP
From Jonas Ike, Abuja The House of Representatives on Wednesday passed the 2019-2021 Medium Term Expenditure Framework MTEF and Fiscal Strategy Paper for the fiscal year ending 31st December 2019. This followed the adoption of the report of its joint Committees on Finance, Appropriations, Aids, Loans and Debt Management, Legislative Budget and Research and National…
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2019 Budget: We are still working on MTEF- Reps
Jonas Ike, Abuja The House of Representatives has said that it is still working on the 2018-2020 Medium Term Expenditure Framework MTEF document presented to it preparatory to the formal presentation of the 2019 Budget of the Federal Government to the National Assembly. The Chairman of the House of Representatives Committee on Media Hon. Abdurazak…
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Buhari sends 2019-2021 MTEF to Senate
President Muhammadu Buhari on Tuesday wrote the senate informing them that works on the 2019 budget is ‘progressing well.’ The letter contains the 2019-2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). “I write to submit the 2019-2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the distinguished senate pursuant…