Medium Term Expenditure Framework and Fiscal Strategy Paper
Strategy · Finance
Policy date: 2007-01-01
A Strategy provides a framework for federal fiscal planning, including revenue projections and expenditure ceilings to guide annual budgets. It targets ministries, agencies, and the National Assembly to ensure realistic financial assumptions. This strengthens fiscal discipline and transparency in government spending.
Medium Term Expenditure Framework and Fiscal Strategy Paper
What Is This Policy?
A recurring fiscal planning instrument required by the Fiscal Responsibility Act, prepared every three years on a rolling basis. It establishes the macroeconomic framework, revenue projections, and expenditure ceilings that guide annual federal budget preparation.
Who Does It Target?
Federal ministries, departments, and agencies National Assembly Appropriation Committees Revenue-generating agencies including FIRS, NCS, and NNPC Development partners and economic analysts
What Does It Aim to Achieve?
Strengthen fiscal discipline by setting medium-term parameters for government spending, ensure budgets are based on realistic revenue assumptions, and promote transparency in fiscal management.
Key Features
Rolling Framework: Updated every cycle to reflect current economic realities and policy priorities Oil and Non-Oil Revenue Projections: Detailed assumptions for all major revenue streams Expenditure Ceilings: Binding limits for capital, recurrent, and statutory expenditure Fiscal Risk Analysis: Assessment of risks to revenue and expenditure assumptions Alignment with Development Plans: Links fiscal policy to national development plans and strategies
Current Status
Rollout Stage: Continuously updated as a rolling three-year document Coverage: All federal government budget entities Lead Agency: Budget Office of the Federation Legal Basis: Required under the Fiscal Responsibility Act, 2007
How to Access
Each edition is publicly available following Federal Executive Council approval. Access through the Budget Office of the Federation website Available in the National Assembly records after submission Published through transparency and open data initiatives
Official Resources
Website: budgetoffice.gov.ng Contact: Budget Office of the Federation, Abuja
Legal Framework
The Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper are required by Section 11 of the Fiscal Responsibility Act 2007. They operate under the Finance (Control and Management) Act, the Appropriation Act, and the Budget Office of the Federation Act. The MTEF aligns with the IMF Government Finance Statistics Manual, the World Bank Public Expenditure and Financial Accountability (PEFA) framework, and OECD MTEF best practice guidelines.