Governor Dapo Abiodun has approved the transmission of Ogun State 2023-2025 Medium Term Expenditure Framework to the State House of Assembly for consideration and approval
Abiodun during the State Executive Council meeting, gave his approval to the medium term fiscal provision which proposed envelopes for the three-year period including N472billion for 2023 , N502billion for
2024 and N530billion for 2025 fiscal year .
The State Government under the proposed Medium-Term Expenditure Framework will give utmost priority to capital expenditure investments at an average of 60% to 40% on capital/recurrent expenditure
The State MTEF is a veritable tool for practicing effective Public Financial Management (PFM) in governance and the present administration had been committed to the PFM since inception in 2019
The MTEF has been a fiscal guide to the State Government for the execution of its day-to-day economic activities.
This is in tandem with the provisions of the State Fiscal Responsibility Law 2020 (as amended) Part II subsection 1b of section 12, which requires that the fiscal activities of the State will be executed through the Medium-Term Expenditure Framework (MTEF)
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