Senate, Executive Hold Interactive Session on 2026–2028 MTEF, FSP

An interactive session is currently underway between the Senate Committee on Finance and key Ministries, Departments and Agencies (MDAs) over the 2026–2028 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

The three-year economic framework, which sets out the federal government’s fiscal and budgetary projections, is designed in line with the Fiscal Responsibility Act to ensure sustainable public finance management and prudent economic planning.

Speaking at the session, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, assured lawmakers that funding is available for the 2024 capital budget, while about 30 per cent of the capital component for the 2025 budget has also been secured.

Edun further disclosed that circulars have been issued to MDAs on the federal government’s revenue optimisation programme for 2026.

According to him, the initiative places strong emphasis on automation and the use of technology, mandating that all government payments be processed through digital platforms to enhance transparency, efficiency and revenue collection.

Members of the Senate Committee on Finance are expected to engage officials of the executive arm on key assumptions, revenue projections and expenditure priorities contained in the MTEF and FSP before making recommendations to the Senate for consideration.