Home News Kwara Wins $16.9m in SFTAS Achievements For 2019/2020

Kwara Wins $16.9m in SFTAS Achievements For 2019/2020

0

…gets N795m PAYE refunds; explains review of budget figure

By Mosunmola Ayobami,Kwara

Kwara State Government has won $16.9million worth of achievements in the 2019/2020 World Bank-supported State Fiscal Transparency, Accountability and Sustainability (SFTAS) programme.

It is the highest ever results achieved by the state since the initiative began in 2018.

The awards came after the state satisfied the disbursements linked indicators (DLIs) as contained in the Annual Performance Assessment (APA) final report submitted by the independent verification agents (IVA) that had earlier visited Kwara State.

The press secretary, Ministry of Finance and Planning,Saad Hamdalat in a statement stated that the DLIs include improved financial reporting and budget reliability; increased citizens engagement in budget process; strengthened internally generated revenues (IGR); biometric and BVN used to reduce payroll fraud.

Others are strengthened public debt management; improved debt sustainability; implementation of a tax compliance for individual taxpayers and businesses; strengthened procurement function for COVID-19 or emergency situation and facilitated participation of SMEs in public procurement resilient recovery phase; and publication and approval of amended COVID-19 response budget.

According to the statement “The import of the foregoing is that the state is eligible to the total sum of $16,900,000 representing performance-based grant for 2019 APA, with an earlier disbursement of $5million in November.”

Of the balance of $11.9million, the state has received an additional $9.4million on Monday January 4, and awaits the balance of $2.5million later in the month, the statement added.

The government meanwhile has explained why it jerked up the budget estimates from N123billion to roughly N135billion, representing an increment of about N11billion.

The breakdown, according to the statement, included a review of the opening balance from N13.6billion to N19bn based on funds mopped up from across the MDAs; VAT from N14.6billion to N15.4 billion; PAYE from N5.6 billion to N5.8 billion; administrative charges from N194.6million to N346.6million; Land Use charge from N124.8million to N174.8million; SFTAS capital receipt from N3.8 billion to N6.1 billion; and termed loan from N4billion to N6 billion.

The statement also announced the receipt of N795,327, 222:21 as the third tranche of the 25per cent refund of unremitted PAYE from federal government’s MDAs domiciled in the state.

 

 

nigeria_news_access_bank_online

Like and Share this:

ADD YOUR COMMENT

Please enter your comment!
Please enter your name here