The House of Representatives has commenced a five-day interactive meeting on the 2021 -2023 Medium Term Expenditure Framework and the Fiscal Strategy Paper, ahead of President Muhammadu Buhari’s presentation of the 2021 Appropriation Bill to the National Assembly.
In attendance is the Minister of state, Finance. Others are heads of government agencies including the Director General, Budget Office, Ben Akabueze, the Comptroller General, Nigeria Customs Service, Ali Hameed, the Accountant General of the Federation, representatives of FRSC and many others.
The MTEF is the annual, rolling three-year expenditure planning.
It sets out the medium-term expenditure priorities and hard budget constraints against which sector plans can be developed and refined.
MTEF contains outcome criteria for the purpose of performance monitoring.
MTEF, together with the annual Budget Framework Paper, provides the basis for annual budget planning.