PROGRAMS/SFTAS
ABOUT SFTAS
What is SFTAS?
States Fiscal Transparency Accountability and Sustainability (SFTAS) Program for Results was developed by the World bank to encourage fiscal transparency, accountability, and sustainability among the States of the Federation. It is a four-year (2018 – 2022) Programme for Results (PforR) facility worth a total of USD$1.5 billion (an initial USD$700 million in annual performance grants + USD $50 million in technical assistance support was augmented with additional financing of USD750 million PforR funds in December 2020 to assist States to cope with the fiscal constraints to adequately contain the COVID-19 Pandemic).
The Federal Ministry of Finance, Budget and National Planning (FMFBNP) decided to ‘on grant’ the PforR financing to States. This significantly increased the incentives that the program provides to the States (noting that the financial assistance packages from FGN prior to this were loans to the States).
The Taraba State Government has expressed interest in participating in the States Fiscal Transparency Accountability and Sustainability (SFTAS) Program.
Benefits for Taraba State
Increased Fiscal Transparency
Enhanced transparency in financial operations, leading to improved trust and credibility with stakeholders, including citizens and investors.
Improved Accountability
Strengthened mechanisms for accountability, ensuring better use of public funds and reducing instances of mismanagement and corruption.
Enhanced Fiscal Sustainability
Access to financial resources and technical support to implement sustainable fiscal policies, improving the state’s long-term economic stability.
Capacity Building
Provision of technical assistance and training to enhance the skills and capabilities of state government officials, leading to more effective governance and better service delivery.
Taraba's Commitment to SFTAS
Key Result Areas
- Increase Fiscal Transparency and Accountability.
- To improve the regulatory framework for private investment in fiber optic infrastructure.
- Strengthen Domestic Revenue Mobilization.
- Increase Efficiency in Public Expenditure.
- Strengthen Debt Sustainability.
Government Measures
- Improved budget and financial reporting transparency.
- Increased openness and citizens’ engagement in the budget process.
- Improved cash management and reduced revenue leakages through implementation of a functional Treasury Single Account (TSA) at State level.
- Strengthened Internally Generated Revenue (IGR) collection.
Personnel spending: Use of biometric and Bank Verification Number (BVN) to reduce payroll fraud.
- Strengthened public debt management and fiscal responsibility framework.
- Improved clearance/reduction of stock of domestic expenditure arrears.
- Improved debt sustainability.