The Gombe State Executive Council presided over by Governor Muhammadu Yahaya, has approved the 2024 Medium Term Expenditure Framework for presentation to the House of Assembly.
According to The Punch, the state Commissioner for Budget and Economic Planning, Salihu Alkali, revealed this to journalists on Wednesday evening, saying Gombe SEC adopted the 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.”
“I presented a council memo in regard to the Medium Term Expenditure Framework presentation, the three-year MTEF plan predicts the state’s revenue and expenses based on assumptions about the global, national, and Gombe State economies,” he said.
“We examined revenue and expenditure from 2017 to 2022, as well as other microeconomic factors such as oil prices, the country’s GDP in comparison to Gombe State GDP, and World Bank and IMF indexes.”
The commissioner said that the state’s revenue was estimated by taking into account the oil market, “as well as the number of barrels per day that the country produces to enable us to repeat or estimate how much revenue we are going to get from the Federal Government and now appropriate.”
Alkali said, “This MTEF is a three-year plan that will take us from 2024 to 2026 here. The most significant one is 2024, which will enable us to project the budget for that year. I asked the council to accept the MTEF after the council approved for His Excellency to forward the same to the House of Assembly for appropriation. The council gave approval.”
