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Nigeria Subnational Public Financial Management Report

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The Nigeria sub-National Public Financial Management (PFM) performance report is a baseline analysis focusing on the 2011 PFM data for Sub-National Governments. The PFM Report which sets the tone for a number of yearly reports on sub-National governance issues in Nigeria, is one of several publications of the Nigeria Governors’ Forum Secretariat based on empirical data and policy-driven indicators.
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    SUB-NATIONAL REPORT SUB-NATIONAL PUBLIC FINANCIAL MANAGEMENT PERFORMANCE REPORT FOR 2011 Nigeria Governors' Forum Secretariat David Nabena | Economist | +234 (0) 8188719234 | dnabena@nggovernorsforum.org 1 Deng Xiaoping Street Asokoro Extension Abuja, Nigeria www.nggovernorsforum.org   2 Table of Contents   List of Figures ............................................................................................................................................................................ 3 List of Tables .............................................................................................................................................................................. 3 Abbreviations and Acronyms ............................................................................................................................................. 4 Foreword .................................................................................................................................................................................... 5 Executive Summary ................................................................................................................................................................ 6 SECTION 1: INTRODUCTION .............................................................................................................................................. 9 1.1 Objective .................................................................................................................................................................. 9 1.2 Methodology ........................................................................................................................................................... 9 SECTION 2: PUBLIC FINANCIAL MANAGEMENT ANALYSIS ............................................................................... 10 2.1 Budget ..................................................................................................................................................................... 10 2.2 Total Revenue: Internally Generated Revenue & FAAC Allocations ............................................. 12 2.3 Public Debt ............................................................................................................................................................ 15 2.4 Solvency Ratio ..................................................................................................................................................... 18 2.5 Liquidity Ratio ..................................................................................................................................................... 21 2.6 Fiscal Service Sustainability........................................................................................................................... 22 SECTION 3: FINDINGS AND CONCLUSIONS ............................................................................................................... 26 3.1 Budget Performance ......................................................................................................................................... 26 3.2 Total Revenue Performance .......................................................................................................................... 27 3.3 Public Debt Performance ................................................................................................................................ 27 3.4 Debt Ratios and Sustainability Performance .......................................................................................... 28 SECTION 4: RECOMMENDATIONS ................................................................................................................................. 29 SECTION 5: APPENDICES ................................................................................................................................................... 31 Appendix 1: 2011 Budget, Total Revenue and Public Debt for States ........................................................ 31 Appendix 2: Debt Sustainability Ratios and Fiscal Service Sustainability for States (2011) ............ 32 Appendix 3: State Population and Rate of Unemployment (2011) .............................................................. 33    3 List of Figures Figure 1.1: Budgets of States (2011)  ....................................................................................................... 10 Figure 1.2: Budget and Total Revenue Spread for States (2011)  .......................................................... 12 Figure 1.3: Total Revenue Distributions for States (2011)  .................................................................... 13 Figure 1.4: Total Revenue for States (2011)  ........................................................................................... 14 Figure 1.5: Public Debts for States (2011)  .............................................................................................. 17 Figure 1.6: Solvency Ratios for States I (2011)  ....................................................................................... 19 Figure 1.7: Solvency Ratios for States II (2011)  ..................................................................................... 20 Figure 1.8: Liquidity Ratios for States (2011)  ......................................................................................... 22 Figure 1.9: Fiscal Service Sustainability for States (2011)  .................................................................... 23 Figure 1.10: Population, Unemployment and IGR in Nigeria (2011)  .................................................... 25 List of Tables Table 1.1: Distribution of Domestic Debts of the 36 States as at December 31, 2011  ......................... 16 Table 1.2: Solvency Spread for States (2011)  ......................................................................................... 20  4  Abbreviations and Acronyms AfDB Africa Development Bank CPIA Country Policy and Institutional Assessment CSOs Civil Society Organisations DMO Debt Management Office DRI Debt Relief International FAAC Federal Accounts Allocation Committee FIB Freedom of Information Bill FMF Federal Ministry of Finance FRL Fiscal Responsibility Law FSS Fiscal Service Sustainability IGR Internally Generated Revenue IT Information Technology JTB Joint Tax Board MSMEs Micro, Small and Medium Scale Enterprises NBS National Bureau of Statistics NPC National Population Commission PD Public Debt PDML Public Debt Management Law PFM Public Financial Management PPL Public Procurement Law TR Total Revenue USD United States Dollars
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