Abuja — The 36 states of the federation and the Federal Capital Territory (FCT), Abuja, have agreed to reform their finances as well as those of the local councils under a Fiscal Sustainability Programme (FSP), to ensure their long term viability.
The 22-point fiscal reform action plan to be implemented by the states under the FSP mirrors the ongoing public financial management transformation being undertaken by the federal government, including biometric capture of all civil servants, the establishment of an Efficiency Unit, implementation of Continuous Audit, improvement in Independently Generated Revenue (IGR) and measures to achieve sustainable debt management.
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