News

FG DISBURSES N66.5B TO STATES

The Federal Government Has Disbursed 66.5 Billion Naira Equivalent To 175 Million Dollars To 35 Eligible States On The Basis Of The Amended Covid-19 Responsive 2020 Budget Results Achievement.

Minister Of Finance, Budget And National Planning Zainab Ahmed In A Statement Signed By Hassan Dodo, The Ministry’s Director Of Press And Public Relations Explained That The Disbursement Followed Compliance With The Amended Covid-19 Responsive 2020 Budget By 35 Eligible States In The Country.

The Disbursement Is Under The Performance-based Grant Component Of The World Bank-assisted States Fiscal Transparency, Accountability And Sustainability (Sftas) Programme-for-results.

The Programme Is Wholly-financed With A 750 Million Dollars Loan From The International Development Association (Ida), A Member Of The World Bank Group; Each Benefiting State Received 1.9 Billion Naira.
Rivers State Is The Only One That Missed Out On The Grant Due To Its Inability To Meet The Eligibility Criteria Which Required The States To Have Passed And Published Online On A State’s Website By July 31, 2020 Credible, Fiscally Responsible Covid-19 Responsive Amended 2020 Budgets Duly Approved By The State House Of Assembly And Assented To By The State Governor.
The Pandemic And The Associated Economic And Fiscal Shocks The Minister Stated, Have Put Significant Pressure On States’ Fiscal Resources And Undermined The Reality And Credibility Of The States’ Original 2020 Annual Budgets.

The World Bank-assisted Sftas Programme Is Principally Meant To Strengthen Fiscal Management At The State Level; 24 States Had In April 2020 Received 43.416 Billion Naira Based On Their Performance.

Show More

Related Articles

Leave a Reply

Your email address will not be published.

Check Also
Close
Back to top button