The Ogun State House of Assembly has received a request from Governor Dapo Abiodun to approve the 2026–2028 Medium Term Expenditure Framework, a crucial document that outlines the state’s fiscal plans for the next three years. The request, which was presented to the Assembly by the Governor, is in line with the Ogun State Fiscal Responsibility Law of 2020, as amended.
According to the Governor’s letter, the Executive Council has already considered and endorsed the proposed framework. The Governor has urged the Assembly to approve the document to facilitate the planning and budgetary process for the 2026 fiscal year, as well as the subsequent years of 2027 and 2028. The Medium Term Expenditure Framework is a vital tool that helps governments to prioritize their spending, allocate resources effectively, and ensure that their fiscal policies are aligned with their development goals.
The Speaker of the House of Assembly, Oludaisi Elemide, has referred the request to the House Committee on Finance and Appropriations for further review and legislative action. This committee will carefully examine the proposed framework, assess its implications, and make recommendations to the full House. The approval of the Medium Term Expenditure Framework is a significant step in the budgeting process, as it provides a framework for the state’s fiscal policies and ensures that the government’s spending is aligned with its priorities.
The Ogun State Fiscal Responsibility Law of 2020, which mandates the preparation and approval of the Medium Term Expenditure Framework, is designed to promote transparency, accountability, and fiscal discipline in the management of the state’s finances. By approving the framework, the House of Assembly will be helping to ensure that the state’s fiscal policies are sustainable, equitable, and aligned with the needs of its citizens. The next step in the process will be for the House Committee on Finance and Appropriations to review the proposed framework and make recommendations to the full House, after which the document will be put to a vote.
