LEGISLATURE

A'Ibom Assembly Concludes Public Hearing on 2025 - 2027 Medium Term Expenditure Framework 


By Julius Nsikak


Hon. Akata 


The Eighth Akwa Ibom State House of Assembly (AKHA), dubbed " The Pragmatic Assembly", has concluded its second public hearing on the 2025 - 2027 Medium Term Expenditure Framework (MTEF).   

This marks the fourth public hearing on MTEF organised by the Akwa Ibom State House of Assembly.


The event, which took place recently at the Assembly Complex in Uyo, was organised by the House Committee on Economic Planning and Development, AKHA, chaired by the  member representing Eket State Constituency, Hon. (Dr) Nsidibe Akata. 


In his opening address, the Speaker, Rt. Hon. Udeme Otong, welcomed the numerous participants at the event, reiterated the importance of calling for public opinions and concerns on political, social, and other administrative issues, stating that it guides the legislators to better make decisions that will create an impact in a democratic society.


Represented by the member representing Ikono State Constituency, Rt. Hon. Asuquo Udo, the Speaker maintained that the Economic and Fiscal Update (EFU) provides economic and fiscal analyses, which form the basis for the budget planning process and target decision and policy makers in the state.


 He noted that the EFU is a tool for appraisal and evaluation of budget performance and identifying  significant factors affecting implementation.


According to the Speaker, the Fiscal Strategy Paper (FSP) and Budget Policy Statement (BPS) are very salient elements in the Medium Term Budget Framework (MTBF), serving as the top-down component of the Medium Term Expenditure Framework (MTEF) and annual budget process. However, while assured that the legislature is committed to boosting the economic wellbeing and sustainability of the state and its people.

He further added that positive outcomes are expected from the meeting.


Addressing participants, Hon. Akata described the MTEF as the basis for determining the annual budget size of the state, mentioning that the exercise has been institutionalised in Akwa Ibom State. 


The committee chairman commended the Governor of Akwa Ibom State, Pastor Umo Eno, for submitting the 2025-2027 MTEF to the State Assembly within the stipulated time frame and poured encomiums on stakeholders for the vital roles they played in the preparing of the budget.


Hon.  Akata gave assurance that the 2025-2027 MTEF will determine the resources needed to fund the government budget for the 2025 financial year.   


In the same vein, the Commissioner for Economic Development, Mr Emem Bob, presented the MTEF, highlighting that the projected expenditure and revenue threshold in the 2025-2027 MTEF and Fiscal Strategy Paper (FSP) will support the state government programmes and projects in the medium term. 


He noted that the efficacy of the MTEF and FSP is contingent upon uncertainties in the global economic environment.


Meanwhile, the public hearing provided an opportunity for stakeholders to present their inputs, which will be utilised in the final copy of the state 2025-2027 MTEF document.


 The meeting was attended by members of the House Committee on Economic Planning and Development, various stakeholders, including representatives from government agencies, Traditional Institutions, Civil Society Organisations (CSOs), and other members of the public.

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