Gombe State Executive Council, presided by Governor Muhammadu Yahaya, has approved the 2024 Medium Term Expenditure Framework for presentation to the House of Assembly.
Disclosing this on Wednesday evening to journalists, the state Commissioner for Budget and Economic Planning, Salihu Alkali, said 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”.
He said, “I presented a council memo in regard to the presentation of Medium Term Expenditure Framework. MTEF is a three-year plan that projects the income and expenditure of the state using assumptions on the international, national and Gombe State economies.
“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-à-vis Gombe State GDP, oil prices, using World Bank, and the International Monetary Fund indices.”
The commissioner disclosed that they considered the oil market to assume the state’s revenue, “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 averred, “This MTEF is a three-year plan for us here from 2024 to 2026. The most important one is 2024, which will help us estimate the 2024 budget. I sought the council to approve the MTEF after the council approved for His Excellency to forward the same to the House of Assembly for appropriation. The council gave approval.”
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