Committed to sustaining the State’s economic growth through all-inclusive financial and budget planning roadmap, the Ogun State House of Assembly has approved the 2022-2024 State Medium Term Expenditure Framework (2022-2024 MTEF) earlier transmitted to it for consideration by the State Governor, Prince Dapo Abiodun barely a month ago.
The unanimous approval of the financial framework by the lawmakers at a plenary presided over by the Speaker, Olakunle Oluomo, followed the presentation of the report of the House Committee on Finance and Appropriation by its Chairman, Hon. Olakunle Sobunkanla.
Sobunkanla, thereafter moved the motion for the adoption of the report, which was seconded by Hon. Solomon Osho and supported by the Whole House through a voice vote.
The MTEF report was later read and adopted sector by sector by the Assembly, consequently, the adoption of sectoral provisions comprising of the personnel, overhead and capital expenditures of the State’s different sectors, including the Legislature and Judiciary between 2021-2024.
The Majority Leader, Hon. Yusuf Sheriff, later moved the motion for the passage of the House resolution titled: ‘H.R. No.040/ OG/2021 Year 2022- 2024 Medium Term Expenditure Framework (MTEF)’, seconded by Hon. Olakunle Sobukanla and supported by the Whole House.
Speaker Oluomo therefter directed the Clerk of the House and Head of Legislative Sevices, Deji Adeyemo to convey the Assembly’s resolution to the Commissioner for Budget and Planning, Olaolu Olabimtan for the preparation of the State year 2022 appropriation.
It would be recalled that the lawmakers had engaged the Budget Commissioner over two weeks ago on the modalities for the 2022-2024 State Medium Term Expenditure Framework (MTEF), with a call for improved funds allocation to the legislative and judicial arms of government to allow for seamless operations of their financial autonomy. They harped on the need to ensure strict adherence to fiscal responsibility frameworks in planning for the rainy day.
They also sought the immediate assent of the State Audit Law, 2019 by the Governor to boost revenue from audit and aid accountability and transparency, noting that in consonance with budgetary provision, allocation and release of funds to the two arms became imperative to aid the principles of separation of powers in line with the provisions of the nation’s constitution.
The Assembly later observed a minute silence in honour of one of its former members, who died last month Hon. Tunde Elemide, a Majority Leader during the 1979 – 1983 legislative session.