States have received N471.9 billion of the $1.5 billion States Fiscal Transparency, Accountability and Sustainability Programme for Results, according to information released by the federal government on Wednesday.
At the State House Banquet Hall in Abuja’s inauguration of the States Charter to sustain fiscal transparency, accountability, and sustainability reforms, Dr. Zainab Ahmed, Minister of Finance, Budget, and National Planning, made this announcement.
In addition to receiving the grants, all 36 states domesticated the fiscal reforms in their public financial management systems by adopting the necessary procedures and practices as well as legal and regulatory frameworks, which were already producing fruitful results, according to Ahmed, who was represented by the Permanent Secretary in the ministry, Aliyu Ahmed.
According to her, the state governments had demonstrated high level of ownership, active peer learning and peer competition which culminated in strong performance by most states in all the Key Results Areas of the SFTAS Programme, which included: increasing fiscal transparency and accountability; strengthening domestic revenue mobilization; increasing efficiency in public expenditure and strengthening debt transparency and sustainability.
She said, “Indeed, the very high level of political visibility and implementation structures created across the 36 states contributed largely to the successful implementation of the Programme over the period 2018 to 2022.”
