EBONYI MEDIUM-TERM EXPENDITURE FRAMEWORK FOR 2024-2026 FINANCIAL YEAR RECEIVES SPEEDY PASSAGE.

The Ebonyi State House of Assembly, was on Thursday, at the Legislative Complex, Nkaliki Road Abakaliki, passed a Resolution for the adoption of the Medium Term Expenditure Framework for the duration of the 2024-2026 financial year by the State Government.
The Resolution which received extensive deliberations was unanimously endorsed in a vote by most of the Assembly members.

Quoting the State Fiscal Responsibility Law which provides for Medium Term Expenditure Framework in the State, the Speaker of the State House of Assembly, Rt Hon. Moses Ije Odunwa said, the passage of the Resolution would engender the implementation of the political promises and People's Charter of Needs Manifesto of the State Governor. Speaker Odunwa maintained that the medium-term resolution was a conscious way of applying discipline by the government in its expenditures and described the speedy passage as deserving.
Rt Hon. Odunwa, eulogized the State Governor, Chief Francis Ogbonnaya Nwifuru, for his developmental strides so far for the advancement of the state, and however, voiced the resolution of the house, adding that the resolution will empower the state Executives to go ahead, with the fiscal planning of the State budget for 2024.

"So, to this end, the house is resolving today to give this resolution, that the Medium Terms Expenditure Framework from 2024 - 2026 is hereby approved."

Earlier, the Leader of the House, Rt Hon. Kingsley Ikoro said, the presentation of the medium-term resolution for passage by Governor Nwifuru showed his prudent disposition in handling the meager resources of the State and expressed optimism that the outcome of the passage would benefit the State and enjoined his colleagues to support the motion.

"His Excellency, the Governor of Ebonyi State, Bldr Francis Ogbonna Nwifuru has done well with coming up of this idea because, it is a guide that tells the government, look at the projection, look at what we are going to do, look at the revenue we are going to generate overtime. So Mr Speaker and the Honourable Colleagues, let us give a speedy passage to this Medium Term Framework because, it is for our own good. It is going to enable the government of Ebonyi State to plan for the citizens of Ebonyi State."

In their remarks, the Chief whip of the House Rt Hon. Nkemka Onuma, the member representing Ezza South State Constituency, Hon. Friday Ogbuewu, and his Izzi West counterpart Hon. Godwin Abiri, opined that the resolution was apt given the current economic reality in the country. They strongly maintained that the resolution would improve budget formulation and curtail the culture of extravagant spending, and as well, improve the economy of the State.

Hon. Chikezie Igu representing Ohaozara East State Constituency, and Hon. Onyebuchi Ogbadu of Ivo State Constituency, inferred that the resolution was in line with the International Monetary Standard and a financial clear road map through which the State could rely on during budget.

Now that the House of Assembly has passed the Medium-Term Expenditure Framework for 2024-2026, it is expected that the state Ministries, Departments, and Agencies would reflect the same in their 2024 budget preparation.

Theophilus Ifeanyi Igwe,
Chief Press Secretary to the Speaker,
Ebonyi State House of Assembly.
October 5, 2023.