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Senate approves Zack Adedeji as FIRS chair
The National Assembly, on Tuesday, received a correspondence from President Bola Tinubu, which contained the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP)
It states: “I am pleased to submit the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper to the National Assembly.
“The MTEF and the FSP were prepared against the backdrop of a political transition, as well as global issues such as the Russia and Ukraine war, which continues unabated with severe consequences on global and energy prices.
“We are also faced with challenges in domestic revenue mobilisation and significantly elevated public debts. Additionally, many economies around the world have witnessed increased inflation with particular adverse effects on capital flows to emerging markets.
“I hereby forward the 2024-2026 MTEF and FSP to the National Assembly for their kind expeditious consideration and approval to bring the 2024 Federal Government of Nigeria’s budget preparations process to timely closure.”
Following reading of the correspondence by Senate President, Godswill Akpabio, the chamber referred the documents to its committees on Finance, Appropriations, National Planning and Economic Affairs, and the committee on Local Debt.
The National Assembly also passed for second reading, the proposed N2.1 trillion 2023 supplementary budget.
At the House of Representatives, the bill scaled second reading after debate on its general principles.
Tinubu, in a letter read at plenary by the Speaker, Abbas Tajudeen, said the budget is aimed at addressing labour wage adjustments, security, and other matters.
The President said notwithstanding the earlier N819 billion supplementary appropriation Act passed, it had become necessary to make further provision for additional palliative measures, including wage award for public servants and the enhanced cash transfer programme, which is intended to benefit the most vulnerable members of society.
Also, the Senate approved the nomination of Zack Adedeji as chairman of Federal Inland Revenue Service (FIRS).
Speaking before his confirmation, Adedeji promised to improve data mining capacity of the agency to make appropriate tax decisions.
