OGUN STATE GOVERNMENT EXCO APPROVES 2023 – 2025 MEDIUM TERM EXPENDITURE FRAMEWORK TRANSMISSION TO OGUN STATE HOUSE OF ASSEMBLY
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. 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 which requires that the fiscal activities of the State will be executed through the Medium-Term Expenditure Framework (MTEF).In accordance with the State Fiscal Responsibility Law, 2020 (as amended) Part II subsection 1b of section 12, the Ogun State Executive Council under the leadership of His Excellency, Prince Dapo Abiodun MFR has approved the transmission of the State 2023 -2025 Medium Term Expenditure Framework (MTEF) to the Ogun State House of Assembly (OGHA).The proposed envelopes for the three-year period are 2023- 472b, 2024 – N502b and 2025 – N530b. The State Government will give utmost priority to capital expenditure investments at an average of 60% to 40% on capital/recurrent expenditure within the Medium-Term Framework.
