Bayelsa State House of Assembly has passed the 2022-2025 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) ahead of the expected presentation of the 2023 appropriations bill by Governor Douye Diri. The passage of the 2022-2025 Medium Term Expenditure Framework/ Fiscal Strategy Paper is sequel 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.
Members of the Assembly, including the Leader of the House and member representing Southern Ijaw II, Rt. Hon. Monday Obolo, Hon. Menelayefa Gibson representing Ogbia II, Hon. Tare Porri representing Ekeremor I, Rt. Hon. Tonye Isenah representing Kolokuma-Opokuma I and Hon. Daniel Charles representing Brass I, agreed that the MTEF/FSP documents presented to the house by the governor complied with the fiscal responsibility laws as provided for in Section 120 and 121 of the 1999 constitution as amended. The MTEF/FSP document, according to Obolo, is expected to provide the state legislators the details on the economic factors influencing the preparation of the budget.
He said: “It is to help prepare the state budget as it provide insight into the macro and micro economic factors that will guide and assist in the consideration of the budget proposals. It also provide insight into ways and means with which the budget will be funded. The consideration and judgement of the House is dependent on the facts provided in the document. The document is detailed and concise.” He also assured that due to the details provided by the state governor, the proposed N385b funding of the state budget is achievable. Also speaking, Rt. Hon. Tonye Isenah said though the document presented to the Assembly is laudable and achievable, the variables presented by the various state government is dependent on the indices presented to the National Assembly by the Federal Government.
Isenah also said 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 administration. Hon. Tare Porri also assured that the indices provides in the State MTEF/FSP is not at variance with the Federal Government saying, “all indices are geared towards compliance with fiscal responsibility laws.”
