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World Bank, AGF rate Sokoto high on financial prudence, transparency – Official



World Bank

World Bank and the Office of Accountant General of the Federation (AGF) have rated Gov. Aminu Tambuwal-led administration in Sokoto State high on financial prudence and efficient management of resources.

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Tambuwal’s Special Assistant on Special Duties, Alhaji Yusuf Dingyadi told the News Agency of Nigeria on Thursday that the feats were achieved through robust initiatives by the present administration and “immense contribution of the Commissioner for Finance, Alhaji Abdussamad Dasuki.’’

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Dingyadi said that Tambuwal strived harder to ensure that he eased the financial burden of the state by formulating viable structural measures across all sectors in the state.

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”Sokoto State is rated 8th among best states in fiscal sustainability, best in prudent management of funds by the Office of the Accountant General of the Federation.

”Sokoto state has been declared one of the best in ability of states to foot monthly recurrent expenditure and loan repayment obligations in 2019.

”The state reached 93 per cent in sound of financial discipline and due process by the Independent Verified Agency of World Bank and rated same by Quality Assurance Agency of the same institution.

”From the above achievements, Sokoto State received N1 billion as free grant by the Federal Government on COVID-19 to encourage distribution of palliatives to people in September.

”The state also secured approval for the soon to be released N6billion grants from the World Bank due to its commitment to financial stability, tax reduction and funds due process during COVID-19 challenges, ” he said.

Dingyadi said Tambuwal administration focused on enhanced revenue generation drive and other economic emancipation exercise to facilitate the state’s growth and  reduced its reliance on federation allocations.

According to him, present government recorded increased in revenue collection to above N600 million each month which has never been recorded in the history of the state.

Dingyadi said out of about N4 billion usual collection from federal allocations by the state, about N2.5 billion were being spent on workers’ salaries.

He said payment of monthly pension gulped N285 million, N129 as allowances, wages of political appointees was N116 million and monthly water supply consumed about N120 million.

He said that the state government spent about N500 to N600 million on servicing loans each month.

Dingyadi stressed that about 30,000 civil servants consumed higher percentage of government accrued revenues, while larger percentage of the population shared meagre resources.

He said state spent high amount on security issues in recognition of the challenges facing the state.

He said that state government recently invested N500 million into TajBank beside existing collaborations with Bank of Industry (BOI) and Bank of Agriculture (BOA) to facilitate growth of businesses and Giginya microfinance bank.

The governor’s aide said Tambuwal was doing his best to ease financial burden of Sokoto State and urged the people to understand the struggle as well as support his success.

Edited By: Grace Yussuf
Source: NAN

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