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2014 Budget: Jonathan begins preparatory work, sends expenditure framework to Senate

Nigeria’s Minister of Finance Dr Ngozi Okonjo-Iweala

Nigeria’s Minister of Finance Dr Ngozi Okonjo-Iweala

As part of preparation drive for next year’s budget President Goodluck Jonathan has forwarded the 2014-2016 medium term expenditure framework and fiscal strategy paper to the senate for consideration and approval.

In a letter sent to the senate President, senator David Mark and read on the floor of the senate, the President said pursuant to provisions of the fiscal responsibility Act 2007 is a drive towards preparation for the 2014 budget.

According to him, 2014 budget framework has been captured in the medium term expenditure framework and fiscal strategy paper.

He explained that the move is to prepare against the backdrop of global economic uncertainty to reflect the unique nature of the country and to ensure planned spending is set at prudent and sustainable levels consistent with government’s overall medium -term developmental objectives.

President Jonathan hailed the National Assembly for the enduring partnership between the legislative and executive arms of government in efforts to transform the economy.

-Muyiwa Bamidele

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