Vice President, Yemi Osinbajo, has threatened that it is only States with sound financial discipline that will get further assistance, or access bailout funds from the Federal Government, from now henceforth.
Osinbajo gave the condition on Monday, in Abuja, at a Workshop organised 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.
“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.
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He added: “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 22-Point FSP for States and Local Governments he said; “was introduced and acceded to by State Governments in 2016, with the view to enhancing fiscal prudence and transparency in public expenditure, monitoring the on-going 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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