The meeting, which will have Finance Minister Kemi Adeosun present, will see discussions about allocating new bailout funds to state governments. Commissioners of states are also expected to give account of how they spent the last bailout funds released by the Muhammadu Buhari administration in 2015.
The new bailout is coming after the states agreed to reform their finances as well as those of the local councils under a Fiscal Sustainability Programme (FSP) packaged by the federal government.
The FSP highlights five key strategic objectives, followed by 22 recommended action points, with a view to achieving objectives around improved fiscal behaviour that will align both short-term and long-term sustainability objectives of the federal and state governments.
Starting from this year, all state governments are expected to abide by the FSP’s strategic objectives around the five key elements of
i. Accountability & Transparency,
ii. Increase in Public Revenue,
iii. Rationalisation of Public Expenditure,
iv. Public Financial Management Reforms,
v. Sustainable Debt Management.
source: nigerianeye
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