The annual budget of the Federal Government is based on a medium term budgetary framework (MTBF). The MTBF is an approach to budgeting that integrates policy-making, planning and budgeting within a medium-term framework.
The MTBF has provided the framework for budget preparation in all Ministries/Division and Departments of the Federal Government since 2009.
The MTBF has three main objectives:
To further strengthen fiscal discipline by creating and orderly framework for management of the annual budget over the medium term;
To strengthen the alignment of federal resources by the government to the government’s policies and strategies;
To build the capacity in federal ministries to prepare and manage their budgets in a manner which provides cost-effective service delivery (outputs) and efficient use of public funds (value for money).