Emmanuel OchayiIn a bid to fortify transparency and fiscal responsibility at the sub-national level, the World Bank has allocated $5.6 million to Nigeria’s State Fiscal Transparency, Accountability, and Sustainability (SFTAS) project.
The funds were directed towards procuring 21 essential items spanning from office stationery to vehicles, as outlined in a recent disclosure.
Join our WhatsApp ChannelIbrahim Mohammed, the Communications Specialist for SFTAS, emphasized the pivotal role of these acquisitions in kickstarting project activities. “When a program starts, there is procurement of the basic items needed for the jobs,” Mohammed stated. “They are all for the use of the office, not the ministry or department.”
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The allocated budget facilitated various acquisitions, including office furniture, ICT infrastructure, and specialized equipment for implementing agencies and partners involved in the project, such as the Debt Management Office (DMO), Accountant General’s Office (AGF), Open Government Partnership (OGP), and the Office of the Auditor General of the Federation.
However, despite the allocation and procurement, a report highlighted that out of the proposed 21 items, only four have been completed, with others still pending or under implementation as of the latest documentation released in December 2023.
Nigeria, a primary beneficiary of World Bank funding, reportedly received $2.9 billion in fresh loans in 2022 alone.
Moreover, the country is presently servicing approximately $14.12 billion from 108 approved loans, with the oldest loan dating back to 1989 during Gen. Ibrahim Babangida’s era.
The overarching objective of the SFTAS project, initiated in 2018 and concluded in 2022, remains focused on bolstering transparency and fiscal discipline across state-level operations.
However, the ongoing implementation of these critical projects underscores the necessity for expeditious execution to realize the project’s intended goals.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
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