Published On: Thu, May 18th, 2017

FG Signs Financing Agreements with EU, USAID, Others

By Dipo Olowookere

Minister of Budget and National Planning, Mr Udo Udoma, has disclosed that the Federal Government has signed Financing Agreements with several development partners.

He listed these partners as the European Union, DFID and USAID among others, pointing out that the agreements have amounted to over €194.5 million and $702 million.

He made this known on Tuesday at a Town Hall meeting held in Abuja to update Nigerians on the successes of President Muhammadu Buhari since he assumed power in May 2015.

Mr Udoma also said the Federal Government has intensified its collaboration with state governments using the vehicle of the National Economic Council (NEC), for which his Ministry serves as the Secretariat.

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He said his Ministry has successfully coordinated Donor Assistance Programmes, and a number of Cooperation Agreements have been concluded and signed with major bilateral/multi-lateral development partners.

Implementation of the Agreements, he pointed out, is being monitored to ensure alignment with national development priorities and aspirations.

The Minister said the Ministry, which serves as anchor for ensuring that normalcy returns to the North East Zone, has ensured effective harmonization of activities of relevant Ministries, Departments and Agencies (MDAs) and Donor Agencies targeted at improving service delivery.

“We have also attracted more funding for the country from the Oslo International Conference on Global Humanitarian Situation to support IDPs in the North-East,” he added.

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He said the Ministry takes its monitoring and evaluation functions very seriously and has accordingly revised the National Monitoring and Evaluation Framework for effective monitoring and tracking of implementation of 2016 Federal Government capital projects and investments.

“This has improved transparency and value for money in the implementation of programmes and projects. The process involves physical inspection and impact assessment. We also ensure that fund releases for capital programmes are tied to the priority areas of the Administration as set out in the (Economic Recovery and Growth Plan) ERGP,” he explained.

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About the Author

- Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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