Yenagoa—The Bayelsa State House of Assembly, Thursday passed the 2022-2025 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) ahead of the expected presentation of the 2023 Appropriation bill by Governor, Senator Douye Diri.
The legislators agreed that the MTEF/FSP documents presented to the House by Diri complied with the fiscal responsibility laws as provided for in sections 120 and 121 of the 1999 Constitution as amended.
According to them, the passage of the 2022-2025 Medium Term Expenditure Framework/Fiscal Strategy Paper (MTEF/FSP) was a follow-up to the consideration and deliberation on the various macro and micro economic indices, including the various sources of revenue to finance the expected budget proposals.
Leader of the House and member representing Southern Ijaw Constituency II, Rt. Hon. Monday Obolo pointed out that the MTEF/FSP document is expected to provide legislators the details on the economic factors influencing the preparation of the budget.
“It is to help prepare the state budget. It provides insight into the macro and micro economic factors that will guide and assist in the consideration of the budget proposals.”
“It also provides insight into ways and means with which the budget will be funded. The consideration and judgment of the House are dependent on the facts provided in the document. The document is detailed and concise,” he said.
He assured that due to the details provided by the state governor, the proposed N385billion funding of the State budget is achievable.
Also commenting, the lawmaker representing Kolokuma/Opokuma Constituency I, Rt. Hon. Tonye Isenah said though the document presented to the assembly is laudable and achievable, the variables presented by the state government are dependent on the indices presented to the National Assembly by the Federal Government.
Isenah noted that the state assembly approval of the 2022-2025 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) is based on the need to support the successes of the Diri-led government.
On his part, the lawmaker representing Ekeremor Constituency I, Hon. Tare Porri said the indices provided in the State MTEF/FSP are not at variance with that of the federal government.
According to Porri, “all indices are geared towards compliance with fiscal responsibility laws.”