President Bola Tinubu sent a Communication to the National Assembly, presenting the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for review and Approval.
Highlighting the Global challenges posed by ongoing Conflicts and Inflationary pressures, he pointed out the Importance of timely Consideration and Approval of the Documents to facilitate the efficient preparation of the 2024 Federal Government of Nigeria’s Budget.
The Senate President, Godswill Akpabio, read the Correspondence during the session, after which the Senate referred the Documents to its committees on Finance, Appropriations, National Planning and Economic Affairs, and the committee on Local Debt.
Simultaneously, the House of Representatives passed the proposed N2.1 trillion 2023 Supplementary Budget for the second reading, focusing on Critical areas such as Labor Wage adjustments and Security, among others.
Speaker Abbas Tajudeen read a letter from President Tinubu emphasizing the necessity of the Supplementary Budget to address pressing needs, including additional Palliative measures and an enhanced Cash transfer program for Vulnerable Members of Society.
Furthermore, the Senate approved the appointment of Zack Adedeji as the Chairman of the Federal Inland Revenue Service (FIRS).
Adedeji pledged to enhance the Agency’s Data mining capacity to facilitate Informed Tax decisions, underscoring the Importance of Data-driven approaches in Revenue generation and Management.
