FG disburses N43,416b to 24 states

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FEDERAL government has disbursed about N43,416,000,000.00 (or $120.6 million) to 24 states in Nigeria.

  The disbursement was made through performance-based grants funded under World Bank-Assisted States Fiscal Transparency, Accountability and Sustainability (SFTAS) Programme-for-Results (SFTAS).

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

  The release stated that eligible states were selected on the basis of the results achieved in 2018 under the performance assessment.

  But out of the N43,416,000,000 disbursed, Kaduna State achieved the highest number of results (nine) and got the highest share with N3,960,000,000.00, while Katsina and Benue got the lowest amount of N540,000,000.00 each.

READ MORE:  FAAC: FG, states, LGs share N619.343b

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

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