No more free money, Vice President Osinbajo tells Defaulting States

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No more free money, Vice President Osinbajo tells Defaulting States

Postby Richtubor » Tue Sep 12, 2017 5:41 pm

No more free money, Osinbajo tells Defaulting States

The Federal government has told states the financial condition to access his support is the full implementation of the 22 Action points of the Fiscal Sustainability Plan (FSP). It said only states with sound financial discipline will access further assistance from it going forward.

The Vice President, Prof. Yemi Osinbajo gave the condition yesterday in Abuja at a workshop organized by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) on alternative sources of revenue generation for sustainable development in states and local government councils in Nigeria.

Represented at the occasion by the finance minister Mrs. Kemi Adeosun. He said “fiscal discipline, improved revenue generation, rational allocation and efficient use of resources, must be strategies adhered to by every tier of government if we must return to a path of sustainable growth.”

“The “independent monitoring and evaluation of states against agreed milestones under the FSP, has been conducted and further consideration for support to states, will be solely dependent on reports from this exercise” he said.

The 22-Point FSP for states and local governments he said “was introduced and acceded to by states governments in 2016 with the view to enhancing fiscal prudence and transparency in public expenditure, monitoring the ongoing public financial management reforms being undertaken by the federal government.”

Earlier in his address, the Acting Chairman of the RMAFC, Alhaji Shettima Umar Abba-Gana, said the commission was designing new additional sources of revenue and ways and means of generating and collecting these revenues for the benefit of the states and local governments.


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