Presidency on Friday revealed that the consideration on Medium Term Framework Expenditure (MTEF) by the National Assembly will determine when the 2017 budget proposal with be presented to Federal lawmakers.

Presidency however stated that Ministries, Departments and Agencies are already working relentlessly toward 2017 budget proposal of the Joint sitting of National Assembly.

The Senior Special Assistance on National Assembly Matters (Senate) Senator Ita Enang who made this known during an interactive session with newsmen assured that the budget will be submitted within the year.

Enang said,”‎ I want to assure you that, first, the budget implementation for 2016 is going on very well and everything is going on as expected and appropriated Expenditure and Fiscal Strategy Paper. 

“Mr President has submitted that to the National Assembly- Senate and House of Representatives- and they are considering it.

“It is what is approved by the National Assembly and the parameters such as. 

“The exchange rate, oil price benchmark, volume of the budget, borrowing plan and other parameters that are contained therein that may be approved or as may he approved by the National Assembly that will be used in the concluding the budget estimates.

“I want to assure you that on the part of the Executive, the budget will be concluded and presented very, such that the budget will be considered and approved, working with every person, within the year, such that the implementation can start by 1st of January 2017. 

“That is the expectation of the executive and that is what Mr. President, the Vice President and the honorable ministers are working towards.

“Therefore, I want us to relax and be assured that all will be done within the time. 

“Definitely, we are working together with the legislature on getting MTEF and FSP passed that it will guide us in the conclusion of budget details. “

It could be recalled ‎ President Muhammadu Buhari had submitted the 2017-2019 Medium-Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) to the National Assembly for consideration and approval.

The letter conveying the MTEF/FSP was read by the President of the Senate, Bukola Saraki at plenary on Tuesday.

President Buhari in the letter noted that the submission of the MTEF and FSP was in line with the provisions of the Fiscal Responsibility Act, 2007.

He added that the development towards the preparation of the 2017 budget framework is in view of the adverse global economic challenges.

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