President Bola Tinubu has submitted the 2025-2027 Medium-Term Fiscal Framework (MTF) and Fiscal Strategy Paper (FSP) to the Senate, hoping for quick legislative approval to speed up the development of the 2025 national budget.
Tinubu acknowledged in a letter to Senate President Godswill Akpabio that the MTF/FSP was approved by the Federal Executive Council (FEC) during its November 10 meeting. The President highlighted that the projected 2025 budget will be based on the budgetary criteria and assumptions indicated in these documents.
“It is imperative to seek the National Assembly’s expeditious legislative action on this submission,” Tinubu stated. “I trust that the Senate will consider the passage of this submission without delay.”
Following the President’s message, Akpabio directed that the MTF/FSP be sent to the Committees on Finance, National Planning, and Economic Affairs for further review. These committees are expected to deliver their conclusions to the Senate for speedy consideration and approval.
During the plenary session, senators unanimously voted to submit the documents to the appropriate committees. The Senate is anticipated to evaluate the committees’ conclusions and issue a budgetary framework resolution in the coming weeks.
The MTF/FSP are vital instruments for Nigeria’s fiscal planning, outlining revenue projections, expenditure priorities, and economic assumptions that shape budget formulation. Their prompt approval is crucial to ensure the smooth preparation and implementation of the 2025 budget.
 and Fiscal Strategy Paper (FSP) to the Senate...){kind=link}