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The Senate Joint Committees on Finance and National Planning has held a Public Hearing on the 2025-2027 Medium-Term Expenditure Framework/Fiscal Strategy Paper (MTEF/FSP) to avail the various Ministries, Departments and Agencies (MDAs) the opportunity to present justifications on their economic and fiscal estimates contained in the document which is crucial for preparing the 2025 budget.
The one-day Public Hearing is being chaired by Senator Sani Musa, Chairman of the Senate Committee on Finance.
Senator Musa in his welcome address highlighted the Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) as critical for steering Nigeria’s budget.
The Minister of finance and Coordinating minister of the economy, Wale Edun expressed optimism about Nigeria’s rising GDP despite high inflation rates.
Also speaking, Minister for National Budget and Planning, Atiku Bagudu, emphasized that enhancing domestic production is vital for combating inflation in Nigeria.
Earlier in his opening remarks, Deputy Senate President, Senator Barau Jubrin, representing President of the Senate Godswill Akpabio assured that the 10th National Assembly remains committed to formulating policies that drive economic prosperity and development for Nigeria.
Meanwhile, senators raised concerns about the Federal Government seeking loans to fund the nation’s budgets despite high revenue targets achieved by revenue-generating agencies this year.
The Senate was therefore informed that nearly all the Federal Government’s revenue agencies surpassed their 2024 revenue targets, just days after lawmakers in both chambers approved a $2.2 billion loan included in the 2024 budget.
-Sen. Sani Musa-Chairman Senate Committee On Finance
Source: Swifteradio.com
