The Senate is awaiting the presentation of the Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) and the 2020 Budget proposals by President Muhammadu Buhari, Senate President, Ahmad Lawan said on Tuesday.
Lawan, who spoke after an executive session of the Senate also disclosed that all the 69 Standing Committees of the Senate would be inaugurated at today’s plenary.
The Senate had on resumption from its annual recess immediately went into an executive session.
Lawan said that the Red Chamber resolved at its executive session to inaugurate all its Standing Committees at the plenary.
He said that the chamber also resolved to await the presentation of the MTEF/FSP as well as the 2020 Appropriation Act.
Lawan, however, did not give a definite date when the two important documents would be transmitted from the executive to the lawmakers for consideration.
Meanwhile Section 11 of the Fiscal Responsibility Act clearly stipulates that the MTEF/FSP “must not be submitted later than four months before the commencement of the next financial year.”
Section 18 of the Act also provides that “the MTEF shall be the basis for the preparation of the estimates of revenue and expenditure required to be prepared and laid before the National Assembly under section 81 (1) of the Constitution.”