The House of Representatives on Tuesday received from the Presidency the Medium Term Expenditure Framework (MTEF) for 2015 to 2017 heralding the presentation of the 2015 budget. The Vanguard reports.
Speaker Aminu Tambuwal read the letter from the president conveying the message to the house in Abuja. The letter however, did not give highlights of the MTEF as to how much was being projected to be spent within the period and the anticipated oil benchmark.
The Fiscal Responsibility Act of 2007 mandates that budget estimates for the next fiscal year must be presented before the joint session of the of the Senate and House of Representatives at least three months before the end of the year. This has not been done at this time.
Also mandated is that the MTEF covering three fiscal years be submitted annually to the National Assembly, which will serve as guide for the appropriation bill.