Senate Begins MTEF/FSP Scrutiny Next Week

The Senate Joint Committees on Finance and National Planning will begin consideration of the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper on Wednesday next week.

The Chairman, Senate Committee on Finance, Senator Solomon Adeola, disclosed this in a statement issued on Thursday by his media adviser, Chief Kayode Odunaro.

The documents were referred to the joint Senate committees on finance and national planning penultimate week by the Senate for further legislative work preparatory to the presentation of the 2021 Appropriation Bill by the President, Major General Muhammadu Buhari, (retd).

Adeola, according to the statement, said the joint committees would begin to critically interrogate the document from Wednesday next week.

He said the early commencement of the exercise was to enable the panels to present their recommendations to guide the Senate in approving the document.

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The senator said, “There is need for thorough scrutiny of the MTEF/FSP document in view of the fluid dynamics of the world economy following the disruptive impact of COVID-19 pandemic and the vagaries of the international market for crude oil and its attendant effects on our sources of revenue.

“There is need for all stakeholders to come together to critically study the fundamentals of the “new normal” forced on the global economy by the COVID-19 pandemic.