President Muhammadu Buhari has posted the 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF-FSP) to the House of Representatives in a bid to ensure the prompt passing of the 2018 spending budget.
Speaker Yakubu Dogara read the communication from the President dated October 9, 2017, through 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.
In another vein, Buhari has indicated his wish for the national budgeting course of action to be extensively 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 significant development could only be assured in Nigeria when integrity is brought to the budgeting process.
He acknowledged that issues between the legislative and executive arms of government were common in a democracy environment.
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.