The Ogun State Government will continue to encourage inclusiveness and good governance by ensuring and strengthening the Public Financial System that will meet global best practices with the goal of delivering dividends of democracy to the people of the Gateway state.
This was the assurance given by the Ogun State Commissioner for Finance and Chief Economic Adviser, Mr. Dapo Okubadejo, in his keynote address at the Egba Divisional Town Hall meeting of the 2004-2026 Medium Term Expenditure Framework (MTEF) and 2024 Budget at the June Cultural Centre, Abeokuta, on Thursday.
Noting that the budget meeting was “emplaced to offer the good people of Ogun State an opportunity to interface in a consultative dialogue meant to decide the direction of governance and development process that directly concern us”, Okubadejo added that the interactive session was a veritable avenue towards the promotion of the government’s development agenda, “which also provides increased individual prosperity for our people.”
He informed that the Prince Dapo Abiodun administration is adopting increased transparency, inclusiveness and bottom-up engagement in the budget process, fiscal discipline and discouraging extra- budgetary expenditure, among others.
“In a bid to achieve sustainable economic development in the State and institutionalise public sector reforms and governance, the present administration of Prince Dapo Abiodun enacted the Ogun State Fiscal Responsibility Law 2020, as amended, which highlights the roles and functions of all the stakeholders as well as spells out the expected fiscal activities in the state and this has assisted in the annual budget preparation process,” he said.
The Finance Commissioner assured that “in managing Public Sector expenditures, we will adhere to the State’s policy thrust in achieving the operating targets, transparency, efficiency and risk aversion in order to implement the government’s policies leading to the direct benefits for the people.
“The State’s Government fiscal policy will focus on improving the efficiency and effectiveness of spending, achieving a balance between capital and recurrent expenditure, including greater control of the wage bill: directing expenditure on capital infrastructure; boosting revenue receipts by identifying and plugging revenue leakages; and gradual fiscal consolidation to achieve a level of public spending consistent with macro-economic stability and sustainable debt,” he added.
Okubadejo added, “This administration led by His Excellency, Prince Dapo Abiodun, will continue to encourage inclusiveness and good governance by ensuring and strengthening the Public Financial System that will meet global best practices with the goal of delivering the dividends of democracy to the entire people of Ogun State.”