President Muhammadu Buhari has submitted the 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF-FSP) to the House of Representatives in a bid to ensure the timely passage of the 2018 budget.
Speaker Yakubu Dogara read the correspondence from the President dated October 9, 2017, during the plenary session of the House yesterday.
The correspondence said that the decision to submit the MTEF-FSP was in line with the provision of the Fiscal Responsibility Act 2007.
One other thing: In another vein, Buhari has expressed his desire to have the national budgeting process thoroughly reformed in a manner that will promote accountability, transparency and professionalism.
The President, who spoke in Abuja at the summit on inter-governmental/inter-party relations and the budget reform process for sustainable development in Nigeria, organised by the National Institute for Legislative Studies (NILS), represented by the Minister of Budget and National Planning, Udoma Udo Udoma, said that meaningful development could only be guaranteed in Nigeria when credibility is introduced to the budgeting process.
He acknowledged that conflicts between the legislative and executive arms of government were normal in a democracy setting.
The summit, with the theme “Expanding Opportunities through Co-operation”, will, among other things, focus on co-operation in areas of agriculture, trade, transport, energy and increased private sector participation among member-countries.
Omoleye Omoruyi… an apprentice web/game developer, novelist, sensitive to happenings in the world. Meet him @Lord_rickie on Twitter/Instagram
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