THE World Bank and EU in collaboration with Delta government on Tuesday started training of over 100 workers of state on financial reforms.
The News Agency of Nigeria (NAN) reports that the workers were drawn from 52 Ministries, Departments and Agencies (MDAs) in the state.
Mr Benson Okojo the Project Coordinator of the World Bank, EU sponsored State Employment and Expenditure for Results (SEEFOR) project said the training was to build the workers’ capacity on adequate budget preparation.
“We were able to identify 52 MDAs under our International Public Sector Accounting Standard (IPSAS) platform,” he said.
Ojoko said the exercise would enable them to understand the reforms that were being implemented under the SEEFOR project intervention.
According to him, one of such reforms is under our Component B which is budget reform.
“A lot of changes are being introduced. We are changing from the old ways of preparing budget according to the heads, sub-heads of each sectorial budget to the new coding structure that has been informed by the adoption of IPSAS.
“It was approved by the Federal Executive Council in 2010 and in 2011, there was a Federal Allocation Accounting Committee (FAAC) that now designed a new national chart among the three tiers of government,” he said.
Ojoko said that Delta was among the first five states that had adopted the new national chart of accounting.
“Having adopted the chart, Delta has been working by organising workshops and pieces of training for relevant stakeholders.
“This includes budget officers, accountants as well as the staff of the Ministry of Economic Planning for the implementation of the programme in the state.
“This has made it possible for the state to prepare the 2018 budget which is already online and the World Bank had applauded the state for this effort,’’
Ojoko said that in spite of the progress recorded by the state in the area of budget preparation, there were still lapses that needed to be corrected.