JUST IN: President Buhari submits MTEF FSP to Senate

President Muhammadu Buhari

President Muhammadu Buhari submits the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) to the Red Chambers.

Ahmad Lawan, the President of the Senate, read the President’s letter asking the Red Chamber’s for consideration and approval of the MTEF/FSP at today's sitting in Abuja.

MTEF is an annual, rolling three year-expenditure planning. It sets out the medium-term expenditure priorities and hard budget constraints against which sector plans can be developed and refined. MTEF also contains outcome criteria for the purpose of performance monitoring.

More details will follow later.....