THIRIYNTIONAL FÅANIA D)ÊEEL0PMENT PR OJECT-ADDITINAL FIN.ANCING
FEDERAL-AMINISTRY OF AGIUETURElL-& RURAL DEVELOPMENTNATIONAL FADAMLAICOORDINATION OFFICE
CONSOLIDATEDFINANCIAL STATEMETNS
FOR THE YEAR ENDED31 ST DECEMBER, 2016
1TODO OKPANACHI & CO.(C,har-tere,d,Accounltantsý)ABUJA -NIGERIA.
Pub
lic D
iscl
osur
e A
utho
rized
Pub
lic D
iscl
osur
e A
utho
rized
Pub
lic D
iscl
osur
e A
utho
rized
Pub
lic D
iscl
osur
e A
utho
rized
IDA CREDIT NO. 52930 UNI
THIRD NATIONAL FADAMA DEVELOPMENT PROJECT
INDEX TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 3 1 s' DECEMBER, 2016
PAGE(S) CONTENTS
1 Officers and Advisers
2-3 Auditors' Report/Certificate
4 Statement of Accounting Policies
5 Statement of Position
6 Cash flow Statements
7-8 Notes to the Financial Statements
9 Statement of Special Account
10 Statement of Project Counterpart Fund Account
11 Statement of IDA Fund to States
Statement of Expenditure in Support of Application for claimingReimbursement Of Local Costs incurred for capital cost and other recurrentexpenditure items
15 Receipts and Payments Accounts (Status of Funds)
16-17 List of Fixed Assets
THIRD NATIONAL FADAMA DEVELOPMENT PROJECT
OFFICERS AND ADVISERS
1. Tayo Adewumi - National Project Coordinator2. Lekan Alawode - National Project Accountant3. Kaka Mustapha - Project Internal Auditor4. Ngozi Okereke - Disbursement Officer5. Sharafat Ahmed - Disbursement Officer Assistant6. Shola Atoyebi - Store Officer
Office AddressFadama HouseWuse II,FCT, Abuja
AuditorsItodo Okpanachi & Co.,(Chartered Accountants)42 Mko Abiola Way,Garki, Area 10,Abuja, Nigeria.
BankersCentral Bank of Nigeria (CBN).
Lokoja, NNPC Filling Station Building NO 42, MKO Abiola wayMakurdi & (Former Diato Oil Building) Garki, Area 10.No 31, Abuja - Keffi Express Way Abuja - Nigeria.PO Box 552 Beside Oando Filling Stafion PO Box 887Mararaba. Mararaba -AbuPOioxa87Tel. 08036539394,07067326692 Aba - Nkjeia
REPORT OF THE INDEPENDENT A TOrS TSOF THE WORLD-BANK ASSISTED THI N NAL FADAMA DEVELOPM NTPROJECT - ADDITIONAL FINANCING CONSOLIDATED FOR THE YEAR ENDED3 1 T DECEMBER, 2016. CREDIT NUMBER 52930 UNI.
We have audited the accompanying project Financial Statements of the Third National FadamaDevelopment Project - Additional Financing Consolidated as of December 3 1St 2016 for the yearthen ended as set out on page(s) 4 to 15 and prepared on the basis of the accounting policies onpage 4.
The project is financed by the IDA Credit number 52930 UNI as well as the State GovernmentCounterpart Fund.
Respective responsibilities of the Project Management and Auditors:
The Project is responsible for the preparation of the Financial Statements. It is our responsibilityas auditors to express an independent opinion, based on our audit on these Financial Statementsand to report our opinion to you.
BASIS OF OPINIONWe conducted our audit in accordance with generally accepted auditing standards. An auditincludes examination, on a test basis, of evidence relevant to the amounts and disclosures in thefinancial statedents. It also includes an assessment of the significant estimates and judgmentsmade by the management in the preparation of the financial statements and of whether theaccounting policies are appropriate to the Project's circumstances, consistently applied andadequately disclosed.
We planned and performed our audit so as to obtain all the information and explanations whichwe considered necessary to provide us with significant evidence to give reasonable assurancethat the financial statemnents are free from material misstatement, whether caused by fraud, otherirregularity or error. In forming our opinion, we also evaluated the overall adequacy of thepresentation of information in the financial statements,
We examined the statement of special accoun of the Project for the year ended 31st December,2016 and in our opinion the accompanying special account statement on page 9 was prepared onthe basis of cash deposits and withdrawals for purpose of complying with the credit agreementand give a true and fair view of the beginning and ending balances and the account activity forthe year ended 3 l't December, 2016.
2
We have examined the statement of Proiect account (Counternad fund) on page 10. In ouropinion, Counterpart funds have been provided in accordance with the financing agreement, andhave been properly used for project purposes; payments from this account are properly backedup by relevant supporting documents and are properly recorded in the books of account.
We report that we have examined the annexed statement of expenditures SOEs) and in ouropinion the statement of expenditure on page 12 and the supporting schedules and informationsubmitted with them together with the internal control and procedures involved in theirpreparation can be reasonably relied on to support the application for reimbursement pursuant tothe credit agreement.
We have reviewed the procurement procedures adopted in acquiring assets (goods) and servicesand in our opinion the procedures adopted ensures the achievement of Economy, Efficiency andEffectiveness and are in conformity with the Bank's procurement guidelines.
OPINIONIn our opinion, these financial statements, give under the accounting convention stated on page4, a true and fair view of Third National Fadama Development Project - Additional Financing asof December 3 1 't 2016 and the Operating Expenditures and Cash flow Statements for the periodended on that date and comply with the requirements of the credit Agreement.
DATE] ...4%U(FRC/2013/000 00000 0 17 10)ABUJA, NIGERIA.
CHARTERED ACCOUNTANTS
36/ICAN
0027094
3
THIRD NATIONAL FADAMA DEVELOPMENT PROJECT - ADDITIONALFINANCINGIDA CREDIT NO. 52930 UNI
STATEMENT OF ACCOUNTING POLICIES
I. BASIS OF ACCOUNTINGThese Financial Statements have been prepared under the historical cost convention, andhave been prepared on cash basis.
2. FIXED ASSETSFixed assets are stated at cost
3. FOREIGN CURRENCIESTransactions involving Foreign Currencies are converted to Naira at the rate of exchangeat the time of transactions. Balances in Foreign Currencies are translated into Naira atthe foreign exchange market rate ruling at the Balance Sheet date and the differencearising there-from are taken to Exchange gains or losses.
4. REPAIRS AND MAINTENANCEExpenditure on repairs and maintenance is charged to Development Operating costs inthe year in which it is incurred.
5. DEVELOPMENT OPERATING EXPENDITUREIn view of the nature of the Project, it has been considered necessary to accumulate theDevelopment Operating cost.
6. ACCOUNTING STANDARDSThe Accounting Standards applied in the preparation of these Financial Statements areINTERNATIONAL ACCOUNTING STANDARDS (IAS 20) and STATEMENT OFACCOUNTING STANDARDS (SAS 1 AND 7).
4
NATIONAL FADAMA COORDINATION OFFICE IDA CREDIT NO. 52930 UNIOFFEDERAL MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENTTHIRD NATIONAL FADAMA DEVELOPMENT PROJECT - ADDITIONAL FINANCING
STATEMENT OF POSITIONAS AT 31ST DECEMBER 2016
NOTES 2016 2015DEVELOPMENT 2 2015CAIALCST1N N NCAPITAL COST 1 1,069,846,795
299,691,009DEVELOPMENTOPERATING COSTS 2 10 735,546,985
CURRENTASSETS 11,805,393,780 2,521,213,626Inventory 4 42,043,947 22,319,330Accounts Receivable 5 25,196,737 1,554,450Cash & Bank Balances 6 2,690,412,331 3,856,771321
CURENTLIAILIIES2,757,653,015 3,880,645,101CURRENT LIABILITIES
Accounts payable 7 0 0NET CURRENT ASSETS 2,757,65305 3,880,645,102
NET ASSETS
6401 858,_Z28
FINANCED BY:
State Counterpart Fund 8 844,590,911 57,910,13-World Bank Initial Deposit 9 3,900,000,000990,1World Bank Credit payable 10 9818,455,884 3,900,000,000
To be read in conjunction with the notesto the accounts.
NATIONAL PROJECT COORDINATOR
TNATIONAL PROJECT ACCOUNTANT
5
IDA CREDIT NO. 52930 UNINATIONAL FADAMA COORDINATION OFFICEOFFEDERAL MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENTTHIRD NATIONAL FADAMA DEVELOPMENT PROJECT - ADDITIONAL FINANCING
CASH FLOW STATEMENTSFOR THE YEAR ENDED31ST DECEMBER 2016
2016 2015CASH FLOW FROM OPERATING ACTIVITIES N N
Development operating cost in the year (8,514,024,368) 542,213,619
Adjustment for non- cash items 0 0
Net operating costs before changes in fund (8,514,024,368) 542,213,619
Increase in inventory (19,724,617) (4,094,595)Increases in Receivables (23,642,287) (1,554,450)(Decreases)/Increases in payables 0 0
CASH FLOW INVESTMENT ACTIVITIES
Increase in Capital Cost Incurred (770,155,786) (278,752,469)
CASH FLOW FROM FUNDING ACTIVITIESInitial Deposit 0 0State Counterpart fund 326,680,776 517,910,135World Bank Credit payable 7,834,507,292 1,044,928,961Increases in cash & cash Equivalents (1,166,358,990) 1,820,651,201
Cash & Cash Equivalent at the beginning of the year 3,856,771,321 2,036,120,120
Cash & Cash Equivalents at the end of the year 2,690,412,331 3,856,771,321
6
NATIONAL FADAMA COORDINATION OFFICE IDA CREDIT NO. 52930 UNIOFFEDERAL MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENTTHIRD NATIONAL FADAMA DEVELOPMENT PROJECT - ADDITIONAL FINANCING
NOTES TO THE ACCOUNTSFOR THE YEAR ENDED31ST DECEMBER 2016
TRACTORS MOTOR FUNITURE& OFFICE FIRE MOTOR PLANT& FARM&DEVELOPMENT VEHICLES FITTINGS EQUIPMENT EQUIPMENT CYCLE MACHINERY SEED TESTING TOTALCAPITAL COSTSEQPMN
cost NEQUIPMENTN N N N N N N N NAs at ist January 2016 0 216,314,276 13,704,640 28,389.875 322,000 3,685,500 0 0 262416,291Purchases in the year 0 509,926,083 8287,800 62,503,000 0 0 11,900,000 16,136,139 608,753,02.Purchases in the year (State) 4,3,3557 67,625,15 7,610868 55,599,765 3411,227 21,054,450 0 0 1988677 4P'As 81 31 st December, 2016 ILI Z93897.Z ~ 29,63.3 14,9. LZA32aZ 24729 iL1,315g13 - LaUl"_~
2 DEVELOPMENT OPERATING COSTS
To 31st Dec Incured in Incured in To 31st Dec2016 the year (Hqtrs) the year(State) 2014
N N N NConsultancy Local 1,706,555,435 294,984,008 112,538,506 1,299,032,921Consultancy:Foreign 15,530,709 0 0 15,530,709Training / Workshops Local 1,983,080,409 330,038,774 343,138,728 1,309,902,907Training I Workshops Foreign 457,690,599 283,675,494 148,857,204 25,157.901Vehicle running costs 34,040,103 2,754,300 18,954,312 12,331,491Advisory Services & Input Support 2,467,515,608 1,620,000 1,992,979,356 472,916,252Evaluation Expenses on procurement 3,493,950 0 2,039,450 1,454,500Community Relations 10,784,205 4,499,930 0 6.284,275Advert & Publicity 74,629,543 22,557,875 36,165,553 15,906,115Bid, Monitoring & Evaluation 183,375,805 80.232,150 38,676,025 64,467,630Meeting Expenses 332,211,569 86,414,400 40,480,736 205,316,433Bank Changes 13,627,152 621,491 2,518,411 10,487,250Local Travels 390,380,022 103,164,240 92,562,082 194,653,700Mission & Field Visiting 56,358,958 0 37,595,564 18,763,394Printing and Stationanes 35,093,054 2,854,686 13,696,454 18,541.914StafflFacilitators & other Allowances 279,763,040 27,915,213 164,511,089 87,336,738Repairs & Maintainance 289,016,358 31,834,572 155,720,718 101,461,068Electricity, Power & Utility 31 872,009 5372.772 11,998,534 14,500,703Insurance 1,999,727 0 1,061,302 938,425Survey & Design 21,282,960 0 14,769,480 6,513,480Fuel and Lubricants 27,793,447 5,521,050 9,140,893 13,131,504General Office Expenses 27,833,476 0 0 27,833,476Group mobilization/sensitization 112,658,136 11,370,000 74,646,786 26,641,350Contribution to PFMU 17.061,297 0 9,693,516 7,367,781Business Plan group 459,229,503 37 747,160 126,782,514 294,699,829Cleaning Services 3,160,000 0 0 3,160,000Communication/project news 6,668,852 2,680,000 0 3,988,852Farmers group Allowances 328,007,043 0 0 328,007,043Extension Services 17.504,850 13,694,250 0 3,810.600Farm Seedlings & Agro Chemicals 563,786,970 0 0 563,786,970Support group Allowances 32,093,414 0 0 32,093,414R/M Office Equipment 2,910.042 0 0 2.910,042Exchange Rate difference 120,593,617 0 0 120,593.617Security Services 5,113,533 0 0 5,113.533Telephone and postages 1,388,846 212,281 0 1,176,565R/M of Generator Houses 43,922,269 21,357,248 0 22,565,021Technical Assistance 84,716,000 70,175,000 0 14,541,000Audit Fee and Expenses 6,267,500 4,500,000 0 1,767,500Disbursement to production cluster State 3,775,329630 3,579,778,309 0 195,551,321Sinking of borehole 96,454,147 14219,672 82,234,475 0Access Roads 1 866,753,654 0 1,866,753,654 0Agric Equipt Hiring 43.438,416 0 43,438,416 0Land Clearing 78,912,924 0 78,912,924 0Storage Facilities and Preservatives 29,375,565 0 29,375,565 0Adaptive Research and on-Farm Cost 82,840,009 0 82,840,009 0Cluster Group Farmers 253,843,315 0 253,843,315 0irrigation Infrastructure 525,551 .053 0 525,551,053 0
Total Operating Cost 17,001,508,723 5,039,794,875 6,411,476,624 5,550,237,224LESS SUNDRY INCOME (Note 3) 16,265,96,7381 (2905 194,371 32052,84 13328714607/NET OPERATING COSTS "J64k98 Z12MUM LUZM U&1 2.221,522.617
7
NATIONAL FADAMA COORDINATION OFFICE IDA CREDIT NO, 52930 UNIOF
FEDERAL MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENTTHIRD NATIONAL FADAMA DEVELOPMENT PROJECT - ADDITIONAL FINANCING
NOTES TO THE ACCOUNTS CONTINUEDFOR THE YEAR ENDED 31ST DECEBER 2016
3 SUNDRY INCOME 2016 2015
Balance brought forward 3,328,714,607 2,333,733Sales of Tender document 15,274,788Interest 1524783,885
o t h e r e s t 1 , 4 3 0 , 2 8 0 0
Sundry refunds 15,813,656 3,326,376,989Sundry efunds884,0000Exchange Rate Difference 2,061,634,444 0Prior Adjustment on Sundry income 20,63 0Balance Carried forward -
4 INVENTORY
Stock of stationery and computer consumables
5 ACCOUNT RECEIVABLESSundry Debtors
6 CASH AND BANK BALANCESState Counterpart Fund Accounts 201,412,114 310,961,716IDA special Account (CBN) 272,811,339 449,513Drawdown Current Account (CBN) 2,212,805,765 1,069,370,156Interest Bank Account 3,383,113 2,065,114Treasury Single Account at CBN (Note 11 refers) 0 214731924,822
7 ACCOUNTS PAYABLE
8 COUNTERPART FUNDBrought Forward 517,910,135 497,910,135Release in the Year 326,680,776 20,000000
9 WORLD BANK INITIAL DEPOSITThis represent Initial Deposit on AdditionalFinancing of $25,000,000 @ N156 per USD.
10 WORLD BANK CREDITBrought forward
1,983,948,592 939,019,631Prior Year adjustment on exchange rate diff. 0 945,109Disbursement in the year 798344507,292 1,043,983,852Carried forward
11 TREASURY SINGLE ACCOUNT AT CENTransfer from Special Account 0620103660 0 9Trf of Withdrawal Application 26 of 07/12/2015 0 9,314,821.36 1,853,649,451
Trf of Withdrawal Application 27 of 16/12/2015 0 677,603.14 134,843,025Total IDASpecial Account Transfers 0 672,3.30 1,83,08Transfer from Drawdown Account 0122298921 0 10,472,352.30 2,083,998,108
Transfer from Drawdown Account 2972045198 0 0.00 107,023To: Cash and Bank Balances 0 ,
12 5UNORY FUNDS TO ADDITIONAL FINANCING
INFLOW FROM FADAMA III
(2014092400155580 dated 25/09/2014) 0 4,999,990 779,998,440INFLOW FROM FADAMA III
(2014092500127035 dated 26/09/2014) 0 4,999,990 779,998,440INFLOW FROM FADAMA III - Ecobank
(2015021700171364 dated 18/02/2015) 0 11,316,000 1,765,296,000 1,1,9ooo 3,325,29200
Other Income to Additional Financing (States) 0 21,315,980 3,325,292,880
TO: SUNDRY INCOME
8
NATIONAL FADAMA COORDINATION OFFICE IDA CREDIT NO. 52930 UNIOFFEDERAL MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENTTHIRD NATIONAL FADAMA DEVELOPMENT PROJECT - ADDITIONAL FINANCING
STATEMENT OF SPECIAL ACCOUNTAS AT 31ST DECEMBER 2016
2016
A RECEIPTS $
Opening Balance 9,796,998.02
Reimbursements 38,181,823.61Interest
4,584.09Transfers Received 0.00Others 0.00
38,186,40770
47,983,405.72B PAYMENTS
Transfers to Draw Down Account 47,086,000.00TSA/CBN
0.00Training/Workshops 0.00Transfer to Wema Bank 0.00Bank Charges 0.00
Closing Bank Balance (A- B) 47,086,000.00
NOTE:
The Opening balance represents $2,258.86 on Eco Bank Accountand $9,794,739.16 brought forward by CBN into the CBN/TSAAccount as at 1st January 2016 from the Initial CBN/TSA call account.
9
NATIONAL FADAMA COORDINATION OFFICE IDA CREDIT NO. 52930 UNIOF
FEDERAL MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENTTHIRD NATIONAL FADAMA DEVELOPMENT PROJECT - ADDITIONAL FINANCING
STATEMENT OF STATE COUNTERPART FUND ACCOUNTAS AT 31ST DECEBER 2016
2016
RECEIPTS N
Opening Balance 310,961,716Received in the year 326,680,776Interest
107,219Other income 85,398,879Transfer 8A96306
731,644,896
PAYMENTS
Training/Workshop 79,999,820
Inc. Operational Cost 413,506,220Irrigation Infrastructure 36726,742Total Payments
Closing Balance 20L412.14
10
> > n > -n -- n 0zz G) > U) W ni ~rn> c om myo>-
zm z ;o
- ; g mz
mu 5 0am
zm z
n x-m o
E> z z
><H 0cfmm ->zz z z zzz0 < 0
n n n n MU 0 -f
> > > > <. > åm-i -40 m
o o o o c m - z
;- ,Z <
0 0 0 0 0 . 00c>-~~ -0 f
m m gý c _
-n " zm
-, -- O c z
c
0~ 0 0o-. -. '-.
-c >>
-i z r- <CD -a -n m> M -i z r »>m O - O
0~ ~ n nn m
o m z
:m 0 - zz
N> M
o 0 > o
IIC> 0z 0 o 0 .
i 00 wm 0w kæal > f
00 < C0 C0
0 0 0- <D.-
NATIONAL FADAMA COORDINATION OFFICE IDA CREDIT NO. 52930 UNIOFFEDERAL MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENTTHIRD NATIONAL FADAMA DEVELOPMENT PROJECT - ADDITIONAL FINANCING
STATEMENTS OF EXPENDITURE IN SUPPORT OF APPLICATIONSFOR CLAIMING REIMBURSEMENT OF LOCAL COST INCURREDFOR CAPITAL COST AND OTHER RECURRENT EXPENDITURE ITEMSAS AT 31ST DECEMBER 2016
Date Paid App. No Details Amount Applied Amount paid Difference
14/02/2014 NFRA-NFCO 1 Initial deposit 25,000,000.00 25,000,000.00 0.00
0.0014/03/2014 NFRA-NFCO 2 Replenishments 525,394.01 525,394.01 0.0017/04/2014 NFRA-NFCO 3 Replenishments 658,693.60 658,693.60 0.0027/05/2014 NFRA-NFCO 4 Replenishments 451,366.87 451,366.87 0.0013/06/2014 NFRA-NFCO 5 Replenishments 914,757.81 914,757.81 0.0023/07/2014 NFRA-NFCO 6 Replenishments 853,12471 853,124.71 0.0012/8/2014 NFRA-NFCO 7 Replenishments 791,894.05 791,894.05 0.0026/08/2014 NFRA-NFCO 8 Replenishments 373,289.94 373,289.94 0.0022/09/2014 NFRA-NFCO 9 Replenishments 522,027.73 522,027.73 0.0023/09/2014 NFRA-NFCO 10 Replenishments 542,522.13 542,522.13 0.0023/09/2014 NFRA-NFCO 11 Replenishments 392,344.21 392,344.21 0.0031/03/2015 NFRA-NFCO 12 Replenishments 348,445.50 348,435.50 10.001/4/2015 NFRA-NFCO 13 Replenishments 449,433.95 449,423.95 10.0013/04/2015 NFRA-NFCO 14 Replenishments 239,323.59 239,31359 10.0014/04/2015 NFRA-NFCO 15 Replenishments 283,023.26 283,013.26 10.0023/04/2015 NFRA-NFCO 16 Replenishments 284,180.48 284,170.48 10.0014/05/2015 NFRA-NFCO 17 Replenishments 626,888.79 626,878.79 10.008/6/2015 NFRA-NFCO 18 Replenishments 538,065.37 538,955.37 -890.0019/06/2015 NFRA-NFCO 19 Replenishments 108,502.95 108,492.95 10.0029/06/2015 NFRA-NFCO 20 Replenishments 523,919.15 523,909.15 10.0029/06/2015 NFRA-NFCO 21 Replenishments 504,351.50 504,341.50 10.004/8/2015 NFRA-NFCO 22 Replenishments 393,610.25 393,60025 10.00
8/9/2015 NFRA-NFCO 23 Replenishments 368,418.83 368,408.83 10.0022/09/2015 NFRA-NFCO 24 Replenishments 204,231.95 204,221.95 10.009/11/2015 NFRA-NFCO 25 Replenishments 661,507.61 661,497.61 10.007/12/2015 NFRA-NFCO 26 Replenishments 479,927.80 479,927.80 0.0016/12/2015 NFRA-NFCO 27 Replenishments 677,613.14 677,613.14 0.0025/012016 NFRA-NFCO 28 Replenishments 315,882.59 315,882.59 0.0028/01/2016 NFRA-NFCO 29 Replenishments 385,995.82 385,995.82 0.00
6/4/2016 NFRA-NFCO 30 Replenishments 647,929.42 647,929.42 0.006/5/2016 NFRA-NFCO 31 Replenishments 1,141,085.36 1,141,085.36 0.00
Balance c/f 40,207,752.37 40,208,512.37 -760.00
12
NATIONAL FADAMA COORDINATION OFFICE IDA CREDIT NO. 52930 UNIOFFEDERAL MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENTTHIRD NATIONAL FADAMA DEVELOPMENT PROJECT - ADDITIONAL FINANCING
STATEMENTS OF EXPENDITURE IN SUPPORT OF APPLICATIONSFOR CLAIMING REIMBURSEMENT OF LOCAL COST INCURREDFOR CAPITAL COST AND OTHER RECURRENT EXPENDITURE ITEMS CONT'DAS AT 31ST DECEMBER 2016
Date Paid App. No Details Amount Applied Amount paid Difference
Balance b/f 40,207,752.37 40,207,752.37 -760.007/4/2016 NFRA-NFCO 32 Replenishments 799,816.86 799,816.86 0.00
14/04/2016 NFRA-NFCO 33 Replenishments 824,255.81 824,255.81 0.0028/05/2016 NFRA-NFCO 34 Replenishments 723,949.23 723,949.23 0.0028/05/2016 NFRA-NFCO 35 Replenishments 656,267.23 656,267.23 0.0028/05/2016 NFRA-NFCO 36 Replenishments 687,833.51 687,833.51 0.0028/05/2016 NFRA-NFCO 37 Replenishments 241,223.46 241,223.46 0.0031/05/2016 NFRA-NFCO 38 Replenishments 378,202.37 378,202.37 0.0031/05/2016 NFRA-NFCO 39 Replenishments 884,934.92 884,934.92 0.00
3/6/2016 NFRA-NFCO 40 Replenishments 677,914.26 677,914.26 0.006/6/2016 NFRA-NFCO 41 Replenishments 672,380.42 672,380.42 0.006/7/2016 NFRA-NFCO 42 Replenishments 768,750.80 768,750.80 0.007/6/2016 NFRA-NFCO 43 Replenishments 621,380.04 621,380.04 0.007/7/2016 NFRA-NFCO 44 Replenishments 601,924.78 601,924.78 0.00
11/6/2016 NFRA-NFCO 45 Replenishments 436,533.54 436,533.54 0.0013/06/2016 NFRA-NFCO 46 Replenishments 373,763.48 373,763.48 0.0014/06/2016 NFRA-NFCO 47 Replenishments 524,490.74 524,490.74 0.0023/06/2016 NFRA-NFCO 48 Replenishments 799,594.58 799,594.58 0.0024/06/2016 NFRA-NFCO 49 Replenishments 716,674.16 716,674.16 0.0024/06/2016 NFRA-NFCO 50 Replenishments 719,267.28 719,267.28 0.0024/06/2016 NFRA-NFCO 51 Replenishments 316,190.09 316,190.09 0.0029/06/2016 NFRA-NFCO 52 Replenishments 246,020.40 246,020.40 0.0030/06/2016 NFRA-NFCO 53 Replenishments 450,300.44 450,300.44 0.0015/07/2016 NFRA-NFCO 54 Replenishments 258,406.22 258,406.22 0.0027/07/2016 NFRA-NFCO 55 Replenishments 98,923.01 98,923.01 0.0027/07/2016 NFRA-NFCO 56 Replenishments 571,475.55 571,475.55 0.00
10/8/2016 NFRA-NFCO 57 Replenishments 735,402.02 735,402.02 0.0010/9/2016 NFRA-NFCO 58 Replenishments 185,172.44 185,172.44 0.00
25/08/2016 NFRA-NFCO 59 Replenishments 1,289,100.00 1,289,100.00 0.001/9/2016 NFRA-NFCO 60 Replenishments 1,406,930.38 1,406,930.38 0.00
1/10/2016 NFRA-NFCO 61 Replenishments 1,590,636.07 1,590,636.07 0.0019/09/2016 NFRA-NFCO 62 Replenishments 2,062,574.68 2,062,574.68 0.00
61,528,041.14 61,528,041.14 -760.00
13
NATIONAL FADAMA COORDINATION OFFICE IDA CREDIT NO. 52930 UNIOFFEDERAL MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENTTHIRD NATIONAL FADAMA DEVELOPMENT PROJECT - ADDITIONAL FINANCING
STATEMENTS OF EXPENDITURE IN SUPPORT OF APPLICATIONSFOR CLAIMING REIMBURSEMENT OF LOCAL COST INCURREDFOR CAPITAL COST AND OTHER RECURRENT EXPENDITURE ITEMS CONT'DAS AT 31ST DECEMBER 2016
Date Paid App. No Details Amount Applied Amount paid Difference
Balance b/f 61,528,041.14 61,528,041.14 -760.004/10/2016 NFRA-NFCO 63 Replenishments 1,070,860.02 1,070,860.02 0.00
14/10/2016 NFRA-NFCO 64 Replenishments 1,046,693.27 1,046,693.27 0.0020/10/2016 NFRA-NFCO 65 Replenishments 829,525.63 829,525.63 0.0028/10/2016 NFRA-NFCO 66 Replenishments 438,995.55 438,995.55 0.00
3/11/2016 NFRA-NFCO 67 Replenishments 898,160.36 898,160.36 0.008/11/2016 NFRA-NFCO 68 Replenishments 701,413.68 701,413.68 0.00
14/11/2016 NFRA-NFCO 69 Replenishments 825,848.59 825,848.59 0.0016/11/2016 NFRA-NFCO 70 Replenishments 352,282.41 352,282.41 0.0028/11/2016 NFRA-NFCO 71 Replenishments 1,171,340.10 1,171,340.10 0.0028/11/2016 NFRA-NFCO 72 Replenishments 128,170.42 128,170.42 0.0028/11/2016 NFRA-NFCO 73 Replenishments 44,658.81 44,658.81 0.0028/11/2016 NFRA-NFCO 74 Replenishments 741,262.08 741,262.08 0.0028/11/2016 NFRA-NFCO 75 Replenishments 1,702,162.60 1,702,162.60 0.0029/11/2016 NFRA-NFCO 76 Replenishments 340,994.31 340,994.31 0.0029/11/2016 NFRA-NFCO 77 Replenishments 252,750.28 252,750.28 0.0030/11/2016 NFRA-NFCO 78 Replenishments 179,249.80 179,249.80 0.0030/11/2016 NFRA-NFCO 79 Replenishments 1,125,860.35 1,125,860.35 0.0030/11/2016 NFRA-NFCO 80 Replenishments 55,706.83 55,706.83 0.009/12/2016 NFRA-NFCO 81 Replenishments 163,318.52 163,318.52 0.00
16/12/2016 NFRA-NFCO 82 Replenishments 97,002.60 97,002.60 0.0016/12/2016 NFRA-NFCO 83 Replenishments 622,052.83 622,052.83 0.0020/12/2016 NFRA-NFCO 84 Replenishments 368,964.56 368,964.56 0.0022/12/2016 NFRA-NFCO 85 Replenishments 244,748.12 244,748.12 0.0022/12/2016 NFRA-NFCO 86 Replenishments 291,137.73 291,137.73 0.00
As at 31/12/2016 Z52.Q-5 1
14
NATIONAL FADAMA COORDINATION OFFICE IDA CREDIT NO. 52930 UNIOFFEDERAL MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENTTHIRD NATIONAL FADAMA DEVELOPMENT PROJECT - ADDITIONAL FINANCING
RECEIPTS AND PAYMENTS ACCOUNTSFOR THE YEAR ENDED 31ST DECEMBER 2016 2016
$ TOTALRECEIPTSIDA Funds 50,221,201 7,834,507,292State Counterpart Fund 5,414,044 844,590,911Initial Deposit 25,000,000 3,900,000,000Interest and others 42,474,114 6,625,961,738Total funds available for project (A) 123,109,359 19,205,059,941
PAYMENTSGoods 6,857,992 1,069,846,795
Training/Workshops 15,762,398 2,458,934,037
Consultancy 10,612,017 1,655,474,728
Inc. Opt. Costs 72,630,718 11,330,392,050
Total Cost of Operations (B) 105,863,125 16,514,647,610
Bank balances (A) - (B) 17,246.234 2,690,412.331
15
NATIONAL FADAMA COORDINATION OFFICE OFFEDERAL MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENTTHIRD NATIONAL FADAMA DEVELOPMENT PROJECT - ADDITIONAL FINANCING
A LIST OF HEADQUARTERS FIXED ASSETSAS AT 31ST DECEMBER, 2016
UNITDESCRIPTION OFGOODS SUPPLIER QTY PRICE AMOUNT LOCATION REMARKS
N NDesk top Computers Tanoy Technologist Ltd 3 280,000 840,000 NFCO Supplied in good ConditionInternet Ready Laptops Tanoy Technologist Ltd 3 390,000 1,170,000 NFCO Supplied in good ConditionPrinters Tanoy Technologist Ltd 3 125,000 375,000 NFCO Supplied in good ConditionUPS Tanoy Technologist Ltd 10,000 60,000 NFCO Supplied in good Condition
T2nyhecholgisLd 5
5000 1 5000NFCO Supiin go oCndtn
Application Packages Tanoy Technologist Ltd 6 50,000 300,000 NFCO Supplied in good ConditionAnti Virus Tanoy Technologist Ltd 6 10,000 60,000 N FCO Supplied in good ConditionVAT 5% Tanoy Technologist Ltd 144,750 NCO Supplied in good ConditionElectrical Table Megareel Global Services Nig.Ltd 7 20,400 142,800 N CO Supplied in good Conditiontxecstive Office Table Megareel Global Services NigLtd 2 168,000 336,000 NFCO Supplied in good ConditionOffice Managers Table Megareel Global Services Nig,Ltd 1 120,000 120,000 NFCO Supplied in good ConditionExecutive Office Chair Megareel Global Services Nig.Ltd 4 84,000 336,000 NFCO Supplied in good ConditionOffice Managers Chair Megareel Global Services Nig.Ltd 6 72,000 432,000 NFCO Supplied in good Conditiontvecutive Manager's Chair Megareel Global Services Nig.Ltd 1 120,000 120,000 NFCO Supplied in good Conditiont 2ecutive Vistors Chair Megareel Global Services Nig.Ltd 15 48,000 720,000 NPCO Supplied in good ConditionMobile Drawers Megareel Global Services Nig.Ltd 1 25,000 25,000 NFCO Supplied in good Condition2HP LG Split unit wall AC Megareel Global Services Nig.Ltd 8 150,000 1,200,000 NFCO Supplied in good ConditionWooden Venetian blinds Megareel Global Services Ng.Ltd 464M 9,500 4,408,000 NFCO Supplied in good ConditionVAT 5% Megareel Global Services Nig7Ltd 391,990 NFCO Supplied in good ConditionTvecutive Office Tabe(2m) Practical Furniture & Investment Ltd. 1 140,000 140,000 NFCO Supplied in good ConditionHPecutive Office Chair Practical Furniture & Investment Ltd. 1 50,000 50,000 NFCO Supplied in good ConditionVAT 5% Practical Furniture & Investment Ltd. 9,500 NFCO Supplied in good ConditionDaylong C G 125 Motorcycles AT & S Investment Ltd 30 117,000 3,510,000 NFCOVAT 5%17,0
50KG CP Fire Sttinguisher R.R & I Fire Safety 15,000 15,000 NCO
Panasonic~~~ ~~ Hedi1irphn a-hisCmue ,000 16,000 N FCO
25KG DCP Fire t Dtinguisher R.R & I Fire Safety 1 10,000 10,000 NFCO9KG DCP Fire tftinguisher M.R & I Fire Safety 4 7,000 28,000 NFCO6KG DCP Fire tutinguiser R.R & I Fire Safety 2 5,500 11,000 NFCOTKG DCP Fire Extinguisher R.R & I Fire Safety 2 2,000 4,000 NFCO5KG C02 ReoP e10Fcre Safet 10,500 84,000 NFCOlecture R.R & I Fire Safety 50,000 50,000 NFCO5KG CO2 Etinguisher R.R & I Fire Safety 20,000 120,000 NFCOMedia Van (10%) Advance Gracious Motor Ltd 5,460,000 NFCODouble Cabin Pick Up Gracious Motor Ltd 2 24,000,000 NFCOMedia Van Gracious Motor Ltd 3 25,200,000 NFCOToyota Hiace Gracious Motor Ltd 7 55,697,786 NFCOToyota Hilu Gracious Motor Ltd 12 71,280,000 NFCOInsurance
9,536,490 NFCOToyota Hilux double Cabin Gracious Motor Ltd 3 13,140,000 NFCOToyota Hiace Pick up Gracious Motor Ltd 1 12,000,000 NFCOHP Compaq Desktop Mac-Chris Computer 1 125,000 125,000 NFCOHP Laptop Computer Mac-Chris Computer 2 145,000 290,000 NPCOInternet upgrade +2months Suscription Mac-Chris Computer 12 120,000 1,440,000 NFCOA Stphone Software with Lincense Mac-Chris Computer 1 1,850,000 1850,000 NFCOPanasonic Headsit Microphone Mac-Chris Computer 2 8,000 16,000 NFCOPanasonic ireless Diskphone Mac-Chris Computer 1 90,000 90,000 NFCOTable-Boo mtself Mac-Chris Computer 2 15,000 30,000 NFCOLG-2HP Split Air Conditioner Mac-Chris Computer 2 125,000 250,000 NFCOThermocool Generator Set (4KVA) Mac-Chris Computer 1 90,000 90,000 NFCOSukum-Invertor Power 1400 VA Mac-Chris Computer 2 55,000 110,000 NFCOAutomatic Voltage Stabilizer Mac-Chris Computer 2 15.000 30,000 NFCOHP Laserjet P2015 Printer Mac-Chris Computer 2 60,000 120,000 NFCOHP Office Set 7000 Wide Format Mac-Chris Computer 2 55,000 110,000 NFCOAPC 650V UPS Mac-Chris Computer 2 20,000 40,000 NFCODedicated Toll Free Line DN Mac-Chris Computer 2 2,800,000 2,800,000 NFCOConfiguration of the Equipment Mac-Chris Computer 100000 100,000 NCOVAT Mac-Chris Computer 374,550 374,550 NFCO18 Stancing Fan Mac-Chri Computer 11,500 11,500 NFCOHP LG Air Conditoner Mac-Chris Computer 4 140,000 560,000 NFCO15HP LG Air Conditioner Mac-Chris Computer 4 120,000 480,000 NFCOFloor Standing Air Conditioner Mac-Chris Computer 2 300.000 600,000 NFCOInstallation Charge/Transportation Mac-Chris Computer 150,000 150,000 NFCOVAT[@5% Mac-Chris Computer 0,500 90,500 NFCOHP Desktop Computer Mac-Chris Computer 49 176,000 8,624,000 NCOHP Laptop Core 15 Mac-Chris Computer 16 181,000 2,896,000 NFCOHP Laserjet Printer Mac-Chris Computer 10 70,000 700,000 NFCOHP Scanner Mac-Chris Computer 6 24,000 144,000 NFCOVAT Mac-Chris Computer 618,200 618,200 NFCOProjector (DELL 2500 LUMEN) Mac-Chris Computer 4 112,500 450,000 NFCONIKON D 90 Digital Still Camera Mac-Chris Computer 2 237,500 475,000 NFCOGARMIN MAP 78s GPS Mac-Chris Computer 15 122,500 1,837,500 NFCOSUNT HO -HVR 1000E DVC Mac-Chris Computer 1 350,000 350,000 NFCOSupply of Office Furniture 4,771,225 4,771,225 NFCOFord Rangera XLT Coscharis Motors Ltd 10 144,855,000 NFCOToyota Hilux 4wo Ovivi Ventures Ltd 303,471,082 NPCOToyota Land Cruiser v8 Ovivi Ventures Ltd 61,600,000 NFCOSupply of Office Furniture Ovivi Ventures Ltd 8,287,800 NFCOSupply of Office Equipment Ovivi Ventures Ltd 62,503,000 NFCOSupply & Installation of gen set Ovivi Ventures Ltd 11,900,000 NFCOSupply of seed testing Equipment Ovivi Ventures Ltd 16,136,140 N FCO
Total Development Capital Cost ALU 1
16
NATIONAL FADAMA COORDINATION OFFICE OFFEDERAL MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENTTHIRD NATIONAL FADAMA DEVELOPMENT PROJECT -ADDITIONAL FINANCING
B LIST OF CORE STATES FIXED ASSETSAS AT 31ST DECEMBER, 2016
ENUGU UNITDESCRIPTION OF GOODS SUPIRQY PRICE AMOUNT
e NSUPPLIER T N N LOCATION REMARKSDesktop and Accesories Farelands Informnation technology, G 150.00 0 ,1080,000 Fadanra OfficeLaptops and bags Farelands Information technology 10 177,500 1773,000 Fadama OfficeInternet Enabled tablets Farelands information technology JO 125,000 1,250,000 Fadama OfficeLaPejet Printers Farelands tdformation technology. 0 49,200 492,000 Fadama OfficeStill Cam ra Farelands Information technology 1 57,500 57500 Fadama OfficeV.deo Camera Farelands information teclhnology. 1 64,000 64,000 Fadama. OfficePhotocopier with tavd & paper rack Farelands Information technology 1 450,200 450,200 Fadana Office
er Farelands Information technology. 3 28,000 84,000 Fadama OfficeCoding Pans (10 blades) aeands Information technology 4 12,200 12,200 F.dama officeFireproof for Drawer tale Fareland Information technology 1 320,000 320,000 Fadama OfficeIFtercon with 14 handsets PASO Farelands Information technology 1 405,000 405,000 Fadana OfficeCCTV 4 Cameraoubithlne, Farelands information technology. 1 450,000 450,000 Fadama officeRouter
1arelands Information technology. 2 60,200 120,400 Fadama OfficeAir C'nd:itionert 2 HP Standing unit Farelands Information technology. 1 160,000 000,000 F.dama officeAi r Conditioners 1.5 RF wall unit Farelands Information technology. 7 75,000 525,000 Fadamia OfficeWater ispenter Farelands information technology 3 57.000 170,000 Fadama OfficeSteel cabinet 2 door, 3 compartment Farelands Information technology. 3 72,000 216,000 Fadama OfficePublic addrets system Farelands Information technology, 1 47200 47,200 Fadama OfficeTnleyson Flat Screen Farelands Information technology B 77,450 44,700 Fadama OfficeField Shield impliments Deabunte Ogbodo 1 320,70 320,750 Fadama OfficeLapilopt compurers Farelands information technology 10 190,260 1,902.600 Fadama OfficeDi a Camera & SD Memory card) Farelands Information technology. 1 709,500 799,500 Fadarna OfficeFurniture Farelands information technology 1 612,000 612,000 Fadama OfficeFarni Aridity Recording Machine Farelands Information technology. 1 677,500 877,500 Fadama Office
Motr Cycles uply 13 26en250 3,396,250 Fadama Office4a%heel Drsue Double Cabin 3 b,955,70 17,867,125 Fadama OfficePe/Laptop Computers Farelands Information technology 02 329,936 3,95,226 Fadama officeOffice Furniture 1,002,350 1,02,35 Fadama Office
KOGI 19939,501
ICT Materials'trantlaion Omoa Consult Ltd 2 050,000 350,000 Fadama OfficePaylong Motorcyclet Debung Global Enterprise 12 020,600 1,225,200 Fadama OfficeHOP Laptops ComPovine Technology 12 120,075 4890 Fadama Officer'- 3,316,103
Daylorg Motorcycles Debtung Global Enterprise 12 120,600 1,052,200 Fadama Office DisposedToyotaHilux1,790,903
Official Vehkucle Gracgou Motors 1es4850 FaaaOfc
T u uta e p T A une A o1 1 1 ,2 5 0 ,0 0 0 1, 2 50 ,0 0 0 F a da m a O f f ic eThe lInsurance, VAT and WHT 2,144,490 2,14 4,4900T,irtui.e and Fittings
1 594,010 594,018 MANRF urniture and Fittings 0 159,500 159O ICT Centre
Laptopt Comppine Technology Il 1 1,832,490 1,32,4090 Fadama OfficeLap:0p: ComnPovie Technology ltd 203,61 0 adama Office
t Compoine Technology l 2 273,230 273,230 Fadama OfficeStabilile 500 VA Compovine Technology ltd 1 29,500 29,500 Fandama OfficeDesktops ComPovine Technology ltdl 905,000 Fa d amia OfficeProtection Equipment Woliac Nig Ltd 306022 Fadama Office
ANAMBIR22,32396
Office Furniture Frank OtS y Okeke 1 0 ,118,500 adama officeLaptups, Photocopier, Printer UAIIM Nig. Ltd 12 0 3,827,250 Fadama OfficeProtectie Gadgets Ma Plus t Service Ltd 102 0 2,770,950 adama Office
ToButa ilur 4 Wheel ce 2 1444,000 20,896,000 Fadama OfficeLaptop Computers uAIM rug. Ltd 24 1078872 4,292,002 Fadama OfficeMotor Cycle Mac Plus Goa Serce Ltd F t 240.255 9,610,200 Fadama OfficePhotocopier Machine UAII M o toc D 1 38,500 388,500 Fadama Office
NIGER 5,0,2
Tractors SCOA Nigeria Pic 5 1,000,403 1 ,052,06 Fadama Office Being 10% paymentfor the supply ofTrcu SCO Nigeria Plc 27416,492 Fadama Office 5 unit Tractors & Equipt
1Pinar 1 Table sets 430,500 Fadama OfficeHGracious Motors 7,500,000 Fadama OfficeLap/Desktop, TV Set Samuel S, 006cr 8-909940 Fadama Office
LAGOS 4,19DESCRIPTION OF GOODS SUPPLIER LCTO EAK
C AS A D E E O M N oO S T H e a d q u a rt e r 8 7 1A T16 9E M31 3
St Bhak tadek Ventures 1,356,000 adama OfficeComunication Equipment Walfate Engineering 775,950 Fadama officeLaptup Tokuns international 150,000 Fadama OfficeHaoIlue Motor Cycles jElegant) F Plus Concept 10 1,850,000 Fadama OfficeProtectiue Clothings and tools Securepact Limited 789,050 Fadama Office
Mutur Cycle F Plus Concept 10 3,970,500 Fadama OfficeDesk/Laptop, Safety Rits Bhakoadhak Ventures 701300826 Fad.ma Office
KANO LA22DESCRIPTION OF GOODS SUPPLIER LOCATION REMARKSBlack Berry 020 Classic Handset Saui Timaya (08038325500) 1 115,000 115,000 Fadama Officeload Tab 4(10 1) Da.ce11 (08037216294) 1 75,000 75,000 Fadama OfficeProtectiue Clothing (Ru;ncoat/boot) 1cmia Nigeria/ u. Printing works 33 5,939 196,000 Fadaina OfficeData Capturing Equipment Phone Marketers repairs & Tech. i 230.000 290,000 Fadama OfficeOff,ce Table Meamallat Global Concept Furniture 4 30,000 120,000 Fadama Offic409 Chairs Muamallat Global Concept Furniture 4 05,000 60,000 Fadama OfficeEc eu Chairs Muamallat Global Concept Furniture 1 56,000 56,000 Facama Officeifani CS 125cc Motorcycle Ktano State Motoretcles 0.A Co. Ltd 15 148,500 2.227,500 Fadama Office
AEHE Tractor Josper Global Services 1 10,87,iN,O0 00,875,000 Fadama OfficeCom puters Royal Blue Contractors 29 125,685 3.644,865 Fad.ma OfficeOffice Furniture Daso Maryiamt Nig, Lrd1,900 FdaaOfcM 025 Printer Hassan Ibrahim 0 120,006 12,0Q0 Fadama Office
SUM MARYCAPITAL DEVELOPmMENT COST: Headquarters 871,069,313
Core States 198L,Z67,21,69846795
17
