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FG disburses N43.416bn to 24 states under SFTAS

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FG disburses N43.416bn to 24 states under SFTAS

The Federal Government has disbursed the sum of N43,416,000,000.00 ($120.6 million) to 24 states of the federation through performance-based grants under the World Bank-Assisted States Fiscal Transparency, Accountability and Sustainability, SFTAS.

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, disclosed this in a statement issued by Mr. Hassan Dodo, the Ministry’s Director of Press and Public Relations, in Abuja, yesterday.

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

Mrs. Ahmed said that eligible States were selected on the basis of the results achieved in 2018 under the performance assessment.

She explained further that the disbursement followed the participation of the 24 eligible States in the recent Annual Performance Assessment (APA) carried out by the Office of the Auditor-General for the Federation (OAuGF) as the Independent Verification Agent (IVA) in collaboration with a third party firm, JK Consulting Limited and the SFTAS Programme Coordination Unit (PCU).

The SFTAS Programme was established by the federal government with the concessional World bank loan to support states to enhance their capacity to achieve the Disbursement Linked Indicators (DLIs) which are the Programme results.

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