NIGERIA Governors' Forum2025-02-052025-02-052017-04978-978-56975-2-0https://nigeriareposit.nln.gov.ng/handle/20.500.14186/1839An assessment of the fiscal sustainability of states The Fiscal Sustainability Plan.  Transparency and accountability.  General findings from desk review.  Publication of state budgets, audited financial statements and and budget performance reports.  Introduction and compliance with the International Public Sector.  Accounting Standards (IPSAS).  Main findings from States' Self-Assessment.  Public revenue.  Setting realistic targets for IGR.  Setting realistic targets for capital and recurrent expenditure.  Implementing a Treasury Single Account.  Quarterly financial reconciliation meetings between federal and state governments to cover VAT, PAYE remittances, refunds on government projects, Paris club and other accounts.  Sharing the database of companies within each state with the Federal Inland Revenue Service (FIRS).  Introducing a system to allow for the immediate issuance of VAT/WHT certificates on payment of invoices  Review all revenue-related laws and update of obsolete rates/tariffs.  Public expenditure.  Setting limits on personnel expenditure as a share of total budgeted expenditure.  Biometric capture of all States' civil servants to eliminate payroll fraud.  Establishment of efficiency unit.  Federal Government online price guide to be made available for use by states.  Introducing a system of continuous audit (internal audit)  Public financial management.  Creating a fixed asset register.  Privatization or concession of suitable State-owned enterprises to improve efficiency and management.  Establishing a Capital Development Fund (CDF) to ring-fence capital receipts and adopt accounting policies to ensure that capital receipts are strictly applied to capital projects.  Domesticating the Public Procurement Act (PPA).  Domesticating the Fiscal Responsibility Act (FRA).  Sustainable debt management.  Attainment and maintenance of a credit rating by each state.  Accessing funds from the capital market.  Publishing a benchmark rate for municipal loans.  Maintaining total liabilities and debt service thresholds.  Establishing a sinking fund and a consolidated debt service account.  Debt sustainability analysis.  Solvency ratio of states.  Liquidity ratio of states.enArticle