The Bayelsa State House of Assembly recently passed the 2022-2025 medium term expenditure framework and fiscal strategy paper (MTEF/FSP) ahead of the expected presentation of the 2022 appropriations bill by the state governor, Douye Diri.
According to the House members, the passage was sequel to the considerations and deliberations on the various macro and micro economic indices including the various sources of revenue to finance the expected budget proposals.
The Bayelsa Assembly members, including the House leader and member representing Southern Ijaw 2, Monday Obolo, agreed that the MTEF/FSP documents presented to the House complied with the fiscal responsibility laws as provided for in section 120 and 121 of the 1999 constitution as amended.
Obolo pointed out that the MTEF/FSP document is expected to provide the state legislators details on the economic factors influencing the preparation of the budget.
He stated: “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 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 N385billion funding of the state budget was achievable.
Hon Tonye Isenah however said though the document presented to the Assembly is laudable and achievable, the variables presented by the various state governments 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 Governor Douye Diri administration.
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