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Senate Approves the 2019 Medium Term Expenditure Framework & Fiscal Strategy Paper

The Senate Tuesday adopted N1.64 trillion proposed by the Executive as the amount for new borrowing to fund the 2019 budget deficit and also approved the proposed N500 billion special social intervention fund.

 

The Senate adopted and passed all the critical projections in the 2019-2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) as proposed by the Executive in its submission to the National Assembly on November 6, 2018.

 

Meanwhile, the Upper Chamber has given its Sub-Committees on Appropriation till Thursday 11th April to submit the 2019 budget for consideration and passage. Our Correspondent, Raliat Adenekan reports that this followed complaints by the Vice Chairman of the Appropriation Committee, Senator Sunny Ogbuorji, who informed the members that only 24 out of the 61 sub-committees have submitted their reports so far.

 

Responding, Senate President, Bukola Saraki warned that if the remaining committees are unable to submit their reports on Thursday, the Senate may be forced to submit the original version presented by the executive. This is coming nearly four months after President Muhammadu Buhari presented the 2019 budget before the joint session of the National Assembly.

 

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