The Home Finance Department of the Ministry of Finance, Budget, and National Planning has received a $5.6 million grant from the World Bank for the procurement of 21 items, encompassing office supplies, furniture, solar inverters, office equipment, and vehicles.

These approvals are part of the State Fiscal Transparency, Accountability, and Sustainability (SFTAS) project initiated in 2018.

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Although the SFTAS project officially concluded in 2022, ongoing project implementation has been confirmed by documents obtained from the bank.

The World Bank committed a total of $1.5 billion to the SFTAS project in two installments of $750 million each in December 2018 and December 2020.

Despite being a grant to state governments, it functions as a loan to the Federal Government.

The procurement plan, aligning with the World Bank’s guidelines, spans from February 2019 to August 2020.

Notable allocations from the $5.6 million grant include $25,713 for office stationery and supplies, $39,357 for additional office equipment and supplies for the SFTAS Programme Coordinating Unit, $64,190 for furnishing the SFTAS Public Service Institute space, and $24,038 for video conferencing equipment.

The largest approval, amounting to $4.78 million, was for the provision of spatial data to states.

Other allocations covered project vehicles, an Inverter Power Backup System, and expenses for the Debt Management Office.

Out of the 21 proposed items, two were canceled, four were completed, one was under implementation, three were pending, and 11 projects were only signed as of the document’s release in December 2023.

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The World Bank disclosed that Nigeria topped its list of fresh loan recipients in 2022, with approximately $2.9 billion released to the country.

Nigeria is currently servicing about $14.12 billion from 108 approved loans, with the oldest loan dating back to 1989.

The SFTAS Communications Specialist, Ibrahim Mohammed, emphasized that procuring items at the project’s inception is a routine procedure to ensure successful implementation.