Senate approves harmonised 2015-2017 Medium Term Expenditure Framework

The Senate on Thursday in Abuja approved the harmonised version of the 2015 – 2017 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
This followed a presentation of the Conference Committee report by the Chairman Senate Committee on Finance, Sen. Ahmed Makarfi (PDP-Kaduna North).
Makarfi said the Conference Committee adopted N190 exchange rate to the dollar, $53 per barrel oil benchmark as well as a statutory transfer of $368 billion.
“On the exchange rate, the Conference Committee adopted the Senate version which has N190 exchange rate to the dollar.
“On the oil price benchmark, whereas the Senate passed it on $52 per barrel, the House passed it on $54 per barrel. The conference committee agreed to recommend a benchmark of $53 per barrel. Item three is on statutory transfer, the conference committee adopted the house version which reduced the statutory transfer from $411.85 billion to $368 billion.“
Presiding over plenary, the President of the Senate, Sen. Mark, raised concern over the adoption of $53 per barrel by the conference committee.
He said the committee should have adopted either the benchmark passed by Senate or House of Representatives.
“The two conference teams have no right to do that; you either take one or the other. You either take the House version or the Senate version; you cannot set a new one; no you can’t. It is okay, we will let this one go.
“Those in favour that the Senate approves the Conference Committee report on the 2015 – 2017 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) say `I’; against say `nay’.
“The `I’s” have it. Thank you very much. I hope that with this the appropriation committee will hasten the budget preparations.“
Meanwhile, Senate has received a letter from President Goodluck Jonathan seeking the confirmation of Justice Amiru Sanusi as a Justice of the Supreme Court of Nigeria in accordance with Section 231(2) of the 1999 Constitution.
Senate equally received the report of the Committee on Ethics, Privileges and Public Petitions in respect of allegations of N3 billion collected by members of Joint Committee on Establishment and Public Service, States and Local Governments from Pension Reform Task Team.
The joint committee was alleged to have been involved in the bribery scandal, while investigating allegations of misappropriation of pension funds by Pension Reform Task Team.
Senate also received report of the Committee on Judiciary, Human Rights and Legal Matters on the Violence against Persons (Prohibition) Bill 2015.
Similarly, the report of Conference Committee on the Bill for an Act to Establish National Bio-saftey Management Agency Bill 2015 was approved.
With the approval of the National Bio-safety Management Agency Bill by the Senate, it was set for assent by the President.
National Bio-safety Management Agency when assented to, will provide regulatory framework as well as institutional and administrative mechanism for safety measures in application of modern biotechnology in Nigeria.