The Federal Executive Council (FEC), yesterday, approved a total expenditure of N27.5 trillion for next year, endorsing the continuation of spurious appropriation benchmarks and unambitious public spending.
Director-General, the Lagos Chamber of Commerce and Industry (LCCI), Dr Chinyere Almona, has noted inconsistencies between the federal government's vision of achieving a $1 trillion economy in the next six years and the 2024 – 2026 Medium-Term Expenditure Framework (MTEF).
Senate President Godswill Akpabio has urged President Bola Tinubu to sack any head of government agency that fails to turn up for the public hearing on the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) at the National Assembly.
The House of Representatives committee on Finance has read the riot act to all his Ministers and heads of Ministries, Departments and Agencies (MDAs) over their lackadaisical attitudes towards the submissions on the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
The National Assembly, yesterday, received a correspondence from President Bola Tinubu, which contained the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) .
Strict compliance with the January - December life cycle for national budgets, achieved since year 2020, could suffer a setback. In spite of provisions in the Fiscal Responsibility Act for early commencement of budget processing, to ensure prompt realisation of the country's economic objectives for the year, no serious groundwork has begun. One lawmaker lamented…