In line with international best practices and in compliance with 2020 State Fiscal Responsibility Act, the Ogun State government has presented a bill on the Medium-Term Expenditure Framework (MTEF 2022-2024) to the State House of Assembly for consideration and approval.
Presenting the document on behalf of the Governor, Prince Dapo Abiodun to the Chairman, House Committee on Finance and Appropriation, Hon. Olakunle Sobukanla, Commissioner for Budget and Planning, Mr. Olaoluwa Olabimtan, said the step was another milestone in the history of the state, as it was the first time the document would be formally presented to the house of Assembly for inclusive governance.
Olabimtan stated that as a transparent government, the Prince Dapo Abiodun-led administration has been interfacing informally with the legislature on the preparation of MTEF in the last two years, emphasising that it is the obligation of the executive to present it officially to the lawmakers, as enshrined in the new State Fiscal Responsibility Law (2020).
‘’The House of Assembly being the representative of the people will have to look into what we have done, consider it and approve within two weeks in line with the dictates of the law. This is also in tandem with the vision of our excellency to have international best practices in our public financial management,’’ Olabimtan said.
The commissioner maintained that the document presented is a three- year spending plan that encapsulates government’s social and economic priorities to give credence to the developmental plan of the state, noting that some of constituent plans of the document were already being implemented, while the other ones will be considered for implementation in the 2022 Budget.
He informed that after the approval of the MTEF, the next step would be its implementation and then the preparation of the 2022 budget for the State.