Jonathan submits 2015-2017 MTEF to House

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President Goodluck Jonathan yesterday forwarded to the House of Representatives the Medium Term Expenditure Framework (MTEF) for the period 2015 to 2017 heralding the presentation of the 2015 budget proposal.

House of Representatives speaker Aminu Waziri Tambuwal read the letter from the president conveying the message.

The letter, however, did not give highlights of the MTEF, like how much was being projected to be spent within the period and the anticipated oil benchmark.

The 2007 Fiscal Responsibility Act stipulates that budget estimates for the next fiscal year shall be presented before the joint session of the National Assembly at least three months to the end of the year, but with less than three months to the end of the year, the 2015 appropriation bill is yet to be submitted to the National Assembly by the executive.

It also stipulates that a MTEF covering three fiscal years be submitted annually to the National Assembly to serve as guide for the appropriation bill.

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