Federal Government has disbursed the sum of N66.5billion ($175 million) to 35 eligible states on the basis of the Amended COVID-19 Responsive 2020 Budget results achievement.
Rivers was the only state that missed out on the grant due to its inability to meet the eligibility criteria, which required the states to have passed and published online on a state’s website by July 31, 2020, credible, fiscally responsible COVID-19 Responsive Amended 2020 Budgets duly approved by the State House of Assembly and assented to by the state governor.
Zainab Ahmed, Minister of Finance, Budget and National Planning, disclosed this in a statement signed by Hassan Dodo, the ministry’s director of press and public relations on Wednesday in Abuja.
Ahmed explained that the disbursement followed compliance with the Amended COVID-19 Responsive 2020 Budget by 35 eligible states in the country.
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She stressed that the programme was wholly-financed with a loan amount of $750 million from the International
Development Association (IDA), a member of the World Bank Group.
The minister said each state received the total sum of N1.9bn equivalent of $5million, adding that the disbursement was under the performance-based grant component of the World Bank-assisted States Fiscal Transparency, Accountability and Sustainability (SFTAS) Programme-for-results.
According to her, “the Amended 2020 State Budget must also include standardised budget documentation to enhance clarity, transparency and accessibility.
