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Thursday, 30 April 2020

FG Shares N43bn Among 24 States: Kaduna Gets Highest, Katsina, Benue Lowest

Kaduna State achieved the highest number of results (nine) and got the highest share with N3. 960 billion, while Katsina and Benue got the lowest amount of N540 million each as Federal Government disbursed the sum of N43,416,000,000.00 ($120.6 million) to 24 states.

The fund is through a performance-based grant under the World Bank-Assisted States Fiscal Transparency, Accountability and Sustainability (SFTAS) Programme-for-Results.

SFTAS is wholly-financed with a loan of $750 million from the International Development Association (IDA), a member of the World Bank Group.

On the Eligibility Criteria (EC), the minister said that States had to meet in order to be eligible to receive any grants included: the online publication of the approved annual budget and audited financial statement for the previous year.

The 24 states were said to have achieved: improved financial reporting and budget reliability; increased openness and citizens’ engagement in the budget process; improved cash management and reduced revenue leakages through the implementation of State Treasury Single Account (TSA); strengthened Internally Generated Revenue (IGR) collection; biometric registration and Bank Verification Number (BVN) used to reduce payroll fraud.

The 24 beneficiary states who were: Abia, Adamawa, Bauchi, Benue, Delta, Edo, Ekiti, Enugu, Gombe, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kogi, Kwara, Niger, Ondo, Ogun, Oyo, Osun, Sokoto, Taraba and Yobe states.

Source:
https://www.vanguardngr.com/2020/04/kaduna-gets-highest-katsina-benue-lowest-as-fg-shares-n43bn-among-24-states/amp/


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