Gombe Executive Council presided by Governor Muhammadu Yahaya, has approved 2024 Medium Term Expenditure Framework for onward presentation to the house of assembly.
Disclosing this on Wednesday evening to journalists, Commissioner for Budget and Economic Planning Salihu Alkali, said SEC adopted his memo, adding that “it was hinged on assumptions basic on what the state expects to get as revenue, what it hopes to spend as expenditure as well as recurrent revenue and capital revenue.”
He said, “I presented council memo with regards to presentation of Medium Term Expenditure Framework. MTEF is a three-year plan that projects income and expenditure of the state using assumptions but international, national and Gombe State economy.”
Alkali added that they examined previous frameworks, adding that “We looked at 2017 to 2022 both revenue and expenditure and then we looked at other microeconomics like the country’s Gross Domestic Products vis a vis Gombe State GDP, oil prices, using World Bank, International Monetary Fund indices.”
The Commissioner disclosed that the they looked at the oil market to assume the state’s revenue, “as well as number of barrel per day that the country produces to enable us repeat or estimate how much revenue we are going to get from the Federal Government and now appropriate.
Clarifying further the need for the approval, Alkali said, “This MTEF is a three-year plan for us here is from 2024 to 2026. The most important one is 2024, which will help us estimate 2024 budget. I sought from the council to approve the MTEF, after council approved for His Excellency to forward same to the house of assembly for appropriation. The council gave approval.”
