Senate President Godswill Akpabio has urged President Bola Tinubu to sack any head of government agency that fails to turn up for the public hearing on the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) at the National Assembly.
According to him, some of the ministers and heads of agencies failed to honour the invitations of committees on public hearings yesterday.
In the MTEF/FSP, the Federal Government pegged the price of crude oil at 73.96 dollar exchange rate at 700 naira per dollar oil production at 1.78 million barrels per day; debt service of 8. 25 trillion naira inflation at 21 percent and Gross Domestic Product growth at 3.76 percent.
The aggregate expenditure is estimated at 26.01 trillion naira for the 2024 budget, which includes statutory transfers of 1.3 trillion naira, non-debt recurrent expenditure of 10.26 trillion naira, debt service estimated at 8.25 trillion naira, as well as 7.78 trillion naira provided for personnel and pension cost.
The public hearing was organised by the Senate Joint Committees on Finance, Appropriations, National Planning and Economic Affairs and Local and Foreign Debt to dissect the fiscal document with the chief executives of government-owned agencies with a view to increasing the national revenue base. The approved MTEF/FSP would set out the parameters upon which next year’s budget will be prepared.