…M-TEF multi year expenditure project which comes in three year
By: IFEANYI Okonkwo
Chairman Anambra Assembly House Committee on Finance and Appropriation, Hon Obinna Chris Emenaka said the 2022 reverse budget presented by Governor Chukwuma Soludo will be passed on Friday 15th July 2022.
Hon. Emeneka who is the member representing Anambra East constituency in an interview with House assembly correspondents on Thursday after plenary said the budget is ready for passage.
According to the lawmaker “Medium Term Expenditure Framework (M-TEF) is a budgeting formulation process where the estimate of the revenues and expenditure and priorities resources are highlighted in a budget of a particular year.
“It is also a multi year expenditure project which comes in three year which is a plan of every government. It is a priroquisite to budget passage.
“For you to have a budget of any state or government, there should be M-TEF where the allocation resources that are prioritize are captured.
“These is where the idea of the main estimate bill (budget) is considered. The prioritize budget which are in line with the manifesto of the Governor.
Earlier at plenary, Emeneka analysis the contents of the M-TEF document after it was presented by the majority leader Hon. Nnamdi .G. Okafor and was adopted by the lawmakers as a working document.
It will be recalled that Governor Chukwuma Soludo presented a revised budget of 169 billon