- October 18, 2017
- Posted by: Godwin Elijah
- Category: National News
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 during the plenary session of the House.
The President, in the correspondence, said that the decision to submit the MTEF-FSP was in line with the provision of the Fiscal Responsibility Act 2007, expressing 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, 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.