Senate President, Dr Ahmad Ibrahim Lawan said on Wednesday that President Muhammadu Buhari has forwarded the Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF & FSP) for the next three years to the Senate.
Confirming the receipt, he said the President was seeking Senate’s approval in line with the constitutional provision.
Lawan had on Tuesday said the Senate will pass the 2020 budget by December.
The Medium Term Expenditure Framework and the Fiscal Strategy Paper form the basis for the 2020 budget and required by law to be sent to the National Assembly four months before the beginning of a new fiscal year.
What this implies is that the MTEF/FSP documents arrive one month behind schedule and the lawmakers will need to work harder to cover lost grounds if they hope to meet with the December deadline they set for themselves.
Lawan on Wednesday also inaugurated all sixty-nine standing Committees announced before embarking on two months of annual leave in July with the President of the Senate charging lawmakers to commence action.
Senate Spokesman, Senator Adeola Adeyeye also at a press briefing after Tuesday’s plenary insisted that the hearing of the Nigeria’s 2020 budget will begin second week of October, 2019.