World Bank Allocates $5.6m Loan to Finance Ministry for Stationery and Equipment

The Home Finance Department of the Ministry of Finance, Budget and National Planning has secured a $5.6 million loan from the World Bank for the procurement of various items, including office stationery, furniture, solar inverters, office equipment, and vehicles.

This funding falls under the State Fiscal Transparency, Accountability, and Sustainability project initiated in 2018, aimed at enhancing transparency and accountability at the sub-national level. Although the project officially concluded in 2022, ongoing implementation continues, as revealed in a document obtained from the World Bank.

The World Bank committed a total of $1.5 billion to the project in two installments of $750 million each, in December 2018 and December 2020.

The procurement plan aligns with the World Bank’s guidelines, outlining arrangements for acquiring goods and services required for the project. Notably, the Home Finance Department received funding for various purposes, including office stationery, additional office equipment, furniture, video conferencing equipment, and spatial data provision to states.

One significant allocation of $4.78 million was directed towards providing spatial data to states. Additionally, $409,638 was designated for the procurement of project vehicles, and funds were allocated for the procurement of an inverter power backup system for the SFTAS Programme Coordinating Unit.

Out of the 21 proposed items, two were canceled, four were completed successfully, one was under implementation, three were pending, and 11 projects were only signed as of the document released in December 2023.

It’s noteworthy that Nigeria ranked as the top recipient of World Bank loans in 2022, receiving approximately $2.9 billion. The country is currently servicing about $14.12 billion from 108 approved loans, spanning from the oldest loan approved in 1989 to the most recent one in 2018.

World Bank’s Communications Specialist, Ibrahim Mohammed, emphasized that the procurement of items at the start of a project is a regular procedure to ensure successful implementation. He clarified that the purchased items are for the use of the office, not the entire ministry or department.