Senate Committee submits report on 2020-2022 MTEF, FSP

The Senate Committee on Finance has presented its report on the 2020-2022 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

Senator Solomon Adeola (Lagos West) presented the report to the Senate during Thursday’s plenary at the Upper Chamber of the National Assembly in Abuja.

In the report, the committee observed that the salaries and remuneration for the proposed recruitment of 30 thousand personnel in the Police, Nigerian Army, Nigeria Immigration Service, and the Nigeria Security and Civil Defence Corps (NSCDC) were not captured in the MTEF and FSP.

The committee also expressed displeasure over the attitude of the Central Bank of Nigeria for the under-disclosure of the e-collection of stamp duties.

It also observed that the activities of the Nigerian National Petroleum Corporation (NNPC), as it relates to the cost of production, were shrouded in secrecy.

On Wednesday last week, lawmakers in the committee invited the CBN Governor, Mr Godwin Emefiele, to clear the air on the issue.

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