OYO, NIGERIA, September 14, 2018 – The Federal Ministry of Finance and the World Bank held a joint State Portfolio Performance Review (SPPR) in Ibadan for the World Bank assisted projects in the South Western States of Ekiti, Lagos, Ogun, Ondo, Osun, and Oyo. Senior government officials of the South Western States participated in the review and together, discussed ways to improve portfolio implementation performance and delivery of results to project beneficiaries.
With a focus to impact more lives, representatives of the state governments identified critical cross-cutting challenges affecting project performance and discussed ways to accelerate implementation and the achievement of results.
“The SPPR is an important meeting for Federal and State project authorities for accountability, monitoring, evaluation, and peer learning. Furthermore, it provides an opportunity to deliberate on challenges and seek solutions,” said E. Nwaobia, Deputy Director, Federal Projects Financial Management Department, Office of the Accountant General of the Federation.
Looking forward, the meeting participants agreed on several practical next steps, such as improved service standards, strengthening of coordination and result-tracking mechanisms, and effective communication of results to key stakeholders.
“With a focus on beneficiaries, the participants in a collective spirit, engaged to find solutions and deliberated on what can be done differently to bring benefits at a faster pace,” said Rachid Benmessaoud, World Bank Country Director for Nigeria. “Through diligence and commitment to address emerging challenges, these candid discussions will deliver results.”
The SPPR meeting was formally opened by the Deputy Governor of Oyo State H.E Otunba Moses Alake Adeyemo and co-chaired by the Federal Ministry of Finance, Honorable Commissioners of the Southwestern states, and Rachid Benmessaoud, World Bank Country Director, Nigeria. Key representatives from the sector ministries, project implementation units’ staff, and members of the World Bank Nigeria Country Team participated in the SPPR.
“It is important to note that these interventions perfectly align with the government’s development priorities,” said H.E Otunba Moses Alake Adeyemo, Deputy Governor, Oyo State.
The Nigeria active portfolio in Southwest Nigeria is composed of nine national IDA projects amounting to $571 million