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Senate and the Presidency reach a deal on MTEF and FSP.

Senate and the Presidency reach a deal on MTEF and FSP

There are strong indications that the leadership of the Senate and the Presidency have reached a deal on the 2017-2019 Medium Term Expenditure Framework and Fiscal Strategy Paper earlier rejected by the upper chamber of the National Assembly.

A source close to the leadership of the Senate said this was the fallout of the meetings between President MUHAMMADU BUHARI; President of the Senate, BUKOLA SARAKI; and Speaker of the House of Representatives, YAKUBU DOGARA.

It was learnt that the Senate, which returned the MTEF and FSP to the Presidency last week, had accepted to receive a detailed version of the document from the Executive this week.

The source said the preparation of the 2017 budget and the proposed twenty nine point nine-six billion dollars external borrowing would be fast-tracked by the legislature.

SARAKI had met with BUHARI three times last week during which the issues of the MTEF and FSP as well as the foreign loan were raised.

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