World Bank Allocates $5.6M for Project Essentials: Nigerian Finance Ministry's Procurement Details Revealed

​By Gloria Ogbonna

The Ministry of Finance, Budget, and National Planning's Home Finance Department has received $5.6 million from the World Bank to procure various items for the State Fiscal Transparency, Accountability, and Sustainability (SFTAS) project. 

This initiative aimed to enhance transparency and accountability at the sub-national level, having commenced in 2018 and concluding in 2022.

Despite the project's completion, ongoing implementations continue, as outlined in a document acquired from the bank. 

The World Bank allocated a total of $1.5 billion across two installments ($750 million each in December 2018 and December 2020) for the SFTAS project, classified as a grant to state governments but a loan to the Federal Government.

The procurement plan, in line with the World Bank's guidelines, illustrates various allocations, including $25,713 for office stationery, $39,357 for additional office equipment, $64,190 for furnishing the SFTAS Public Service Institute, among other allocations for furniture, equipment, and specialized systems. Notably, the most substantial allocation of $4.78 million was dedicated to providing spatial data to states.

Out of the 21 proposed items, a few were canceled, some successfully completed, and others remained under implementation or pending as of December 2023. The ministry utilized the funds for various project essentials, including video conferencing equipment, vehicles, and a power backup system for the SFTAS Programme Coordinating Unit.

Additionally, the World Bank disclosed that Nigeria topped the list of beneficiaries of its loans in 2022, with approximately $2.9 billion released to the country. Nigeria is currently servicing loans amounting to $14.12 billion from 108 approved loans, dating back to loans approved as early as 1989 and as recent as 2018.

Responding to the procurement details, SFTAS Communications Specialist, Ibrahim Mohammed, emphasized that the items procured were necessary at the project's outset to ensure its smooth implementation.

He clarified that these purchases were specifically for the project's operational needs, not for general ministry or departmental purposes, enabling the provision of technical support to states from implementing agencies and partners within the ministry.

Source Punch