The House of Representatives has approved President Muhammadu Buhari’s 2020-2022 Medium Term Expenditure Framework (MTEF), and Fiscal Strategy Paper (FSP).
Approval of the document by the National Assembly is required by the Fiscal Responsibility Act, as prelude as well as a guide to the preparation of a coming year’s appropriation Bill.
Presenting report of the joint committee on Finance and Appropriation on Thursday, Hon. James Faleke, explained that key amongst the panel’s recommendations was a borrowing reduction target of N200 billion, as well a drastic drop in the budget deficit.
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