Friday, April 17, 2026
26.3 C
Lagos

N229bn World Bank Windfall: States Refuse to Publish 2019 Budget

Nigerian state governments have proved that the returns from the usual business of budget secrecy are much more fulfilling to them than the $750 million incentive provided by the World Bank to encourage public finance transparency in Nigeria, BudgIT research has shown.

An 8-month painstaking effort, the assessment of the availability of public finance documents in state government domains reveals that only twenty-five states’ approved budgets are available online, a few of which are summarized scanned documents.

Eleven states (Lagos, Cross River, Akwa Ibom, Bayelsa, Ebonyi, Imo, Nasarawa, Oyo, Rivers, Sokoto and Zamfara) are yet to publish the details of their 2019 budget online, as of June 3rd, 2019, while Kwara state budget went missing on its website immediately after the recent transition.

This contravenes the ideals of openness and transparency in the management of public resources, which is the requisite guideline for the World Bank’s State Fiscal Transparency, Accountability and Sustainability (SFTAS) programme, a product of mutual agreement between the financial institution and the federal government to strengthen fiscal transparency, accountability and sustainability in Nigerian states as a means to turbo-charge their revenue base, increase fiscal efficiency in public expenditure while reducing debt overhangs.

The project in which all the 36 state governments submitted written expressions of interest commenced late 2018 after the endorsement by the National Economic Council in March.

It is shocking that any state would jettison the offer of a programme that was informed by serious fiscal challenges faced by states, the majority of which are still unable to pay workers’ salaries and pensions.

We must emphasise that Imo, Zamfara and Sokoto states have not published their budget documents since 2017, whereas Lagos State, which provides only a thumbnail of it, has a history of notoriously resisting attempts to uncover its financial dealings, thus embedding corruption.

“This situation notwithstanding, BudgIT will not give in on its advocacy for transparency and accountability in Nigeria. We shall look more critically at the proactiveness in the disclosure of financial information by Nigerian states as well as their compliance with the Freedom of Information Act,” affirms Gabriel Okeowo, BudgIT’s Principal Lead.

According to him, it is commendable that many other states have released full budget documents to the public. However, those documents must always be published within a reasonable timeframe in an accessible format.

This is pivotal in enabling citizens to engage legislators during budget debates. States with partially detailed budget documents – in public domains – must provide details of capital projects being executed for the fiscal year.

spot_img
spot_img
spot_img

Hot this week

Nationwide Voting Platform Empowers Consumers to Rate Brands, Public Institutions Based on Real Value, Trust, Service Delivery

  https://consumervalue.vercel.app/nominate In a bold step to deepen consumer voice and...

PenOp Appoints Anthonia Okoro as Chief Executive Officer

Pension Fund Operators Association of Nigeria is pleased to...

RMRDC DG, Nnanyelugo Ike-Muonso, to Deliver 10th Bullion Lecture April 23

Professor Nnanyelugo Ike-Muonso, Director General/Chief Executive of Raw Materials...

NLNG Concludes 2026 VIBES Pitch-a-Thon, Disburses ₦250m in Business Grants

Presentation of a ₦250 million cheque to 51 beneficiaries...

Resolution of Failed Banks: NDIC Commences Process to Conclude the Liquidation of 89 MFBs & PMB

The Nigeria Deposit Insurance Corporation (NDIC) has commenced the...

Topics

Shareholders Lament Foreign Acquisition of Local Insurance Firms  

  L-R: Welfare Officer, Independent Shareholders Association of Nigeria (ISAN),...

Access Corporation Acquires Sigma Pensions

Access Holdings Plc, trading as Access Corporation today announces...

NCC, SEC, NASENI CEOs to Discuss Business, Economic Recovery at WES 2024

All is set for the annual WorldStage Economic Summit in Lagos...

The Maggi Magic Nestlé Redressing Micronutrient Deficiency in Africa with New Maggi Cube

MAGGI CUBES: FORTIFIED SEASONING Nestlé sells millions of Maggi...

Africa Pension Awards 2O16: Call for Nominations

Looking for Innovation in Pension African countries now have the...

Transcorp Power Names Christopher Ezeafulukwe as Non-Executive Director

Transcorp Power Plc wishes to notify the investing public...

Stanbic IBTC Pension Attributes Stable Outlook Rating to Commitment to Excellence

  Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic...
spot_img

Related Articles

Popular Categories

spot_imgspot_img