Abuja - The Senate has approved the Medium Term Expenditure Framework (MTEF) of President Muhammadu Buhari in readiness for the passage of the 2017 budget.
The senators during plenary on Wednesday approved all the recommendations of the report by the joint committees on Finance, Appropriations and National Planning on the MTEF and the Fiscal Strategy Paper (FSP) including projected revenue as well as exchange rate of N305 to a dollar.
The approval came three months after President Buhari submitted the proposal to the Senate.
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Buhari had on October 3 forwarded to the Senate the 2017, 2018 and 2019 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF) and (FSP) for discussions and subsequent approval.
With the approval, the stage is now set for deliberations on the 2017 budget. proposal set by the President.
Senate now approves the recommendations of the report on #MTEF including projected revenue as well as exchange rate of N305/$.
- News 24