The federal government has disclosed that in the next few weeks, state governments will receive the last tranche of performance-based grants under the World
Bank assisted States’ Fiscal Transparency, Accountability and Sustainability programme for results, including the sum of N1 billion withheld by the Central Bank of Nigeria through naira exchange deficit.
That will bring to a close, the performance for results grant even though the technical assistance component will continue to be delivered by implementing agencies and partners till June, 2023 when the programme will finally wind down. The SFTAS is a facility from the World Bank, which is provided in US Dollars. And in monetizing that US Dolla to Naira, the states claimed that there were some differentials that is still due to them and reconciliation was taken. And that differential is just N1 billion over the 36 states that are in the SFTAS programme. It will be recovered and shared to them.
Minister of finance, budget and national planning, Zainab Ahmed made the disclosure at the just concluded Nigerian Economic Summit in Abuja yesterday. The minister said the continued support and commitment of stakeholders particularly the legislature and CSOs at state level are most needed in this last year of programme implementation to deepen on -going reforms and build structures that would entrench the ideals of SFTAS long after the payment of performance grants had ceased.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal Govt Proposes 8 Weeks Mandatory Course For Labour LeadersFederal government is considering a mandatory eight weeks course for all newly elected labour leaders in the country.
Read more »
Cynthia Morgan Releases November Prophecies For Wizkid, Funke Akindele, OthersNigerian singer, Cynthia Morgan, has shared prophecies about some popular celebrities for the month of November.
Read more »
ASUU set to protest federal government's half pay policy | TheCableMembers of the Academic Staff Union of Universities (ASUU) has called for a protest against what it termed as 'the casualisation of intellectualism in Nigeria'.
Read more »
BREAKING: Federal High Court adjourns Nnamdi Kanu’s caseThe Federal High Court Abuja on Monday adjourned Nnamdi Kanu’s case without any future date being designated for resumption, pending the outcome of the appeal at the Supreme Court.
Read more »
Why Lagos govt should engage our members - Block moulders'Now, we understand that bad blocks are a major cause to building collapse.'
Read more »
Insecurity: Oyo govt seeks US help - Punch NewspapersThe most widely read newspaper in Nigeria
Read more »