FEDERAL MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENT. CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2019 SECOND RURAL ACCESS AND MOBILITY PROJECT (RAMP 2) (FEDERAL PROJECT MANAGEMENT UNIT) CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31sT DECEMBER, 2019 PREPARED BY OLUFEMI ADENIJI & CO. (CHARTERED ACCOUNTANTS) OLADAYO HOUSE, No. 9, Summit Avenue, Oke - Agala Estate, Vine Branch Church Area, Off Queen Elizabeth Road, Mokola, lbadan, Oyo State. Telephones: 08033283589, 08180764030 E-mail: femadeniji2002yahoo. com. Website: ivIw.olufemitdeniiiandco, coi TABLE OF CONTENTS CORPORATE INFORMATION - 2-3 REPORT OF THE PROJECT MANAGEMENT TEAM - 4-6 AUDITORS' REPORT - 7-9 STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES - 10-11 IMPACT OF COVID-19 - 12 CONSOLIDATED STATEMENT OF FINANCIAL PERFORMANCE - 18 CONSOLIDATED STATEMENT OF FINANCIAL POSITION - 19 CONSOLIDATED STATEMENT OF FINANCIAL CASHFLOW - 20 CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS / EQUITY - 21 CONSOLIDATED STATEMENT OF BUDGET PERFORMANCE - 22 STATES' PROJECT STATEMENT OF FINANCIAL PERFORMANCE - 23 STATES' PROJECT STATEMENT OF FINANCIAL POSITION - 24 STATES' PROJECT STATEMENT OF FINANCIAL CASHFLOW - 25 STATES' PROJECT STATEMENT OF CHANGES IN NET ASSETS / EQUITY - 26 STATES' PROJECT STATEMENT OF BUDGET PERFORMANCE - 27-29 NOTES TO THE ACCOUNTS - 30-39 CORPORATE INFORMATION Project Name: Second Rural Access and Mobility Project (RAMP 2) Project ID: P095003 IDA Credit No. / AFD Agreement No.: 51540 Total Credit Amount (IDA) US$170,000,000.00 Effectiveness Date: 18th February, 2013 Closing Date: 31 st October, 2020 Programme Duration: 7 Years, 6 Months Remaining Period: 10 months Responsible MDA: Federal Ministry of Agriculture and Rural Development (FMARD) National Technical Steering Committee Members: 1. Permanent Secretary, Federal Ministry of Agriculture & Rural Development - Chairperson. 2. Coordinators of all IDA Financed Agriculture & Infrastructure Programs in Federal Ministry of Agriculture & Rural Development (FMARD) Federal Project Monitoring Unit (FPMU): Registered Office. NAIC HOUSE Central Business District (CBD), AbuJ a. Key Team Members of FPMU: Engr. Ubandoma Ularamu - National Project Coordinator Mr. Anthony 1. Okoh - Project Accountant Mr. Akpehe 1. - Safeguard Officer Engr. Tehinse Kehinde - Infrastructure Engineer Engr. Mohammed Aminu A. - Procurement Officer Mrs. Salamatu Faith. I. - Development Communication Officer Engr.G.U Uno - Procurement Officer I Mr. Emmanuel Agu - Project Internal Auditors Bankers: Central Bank of Nigeria. 2 States Presently Covered: Adamawa Enugu Registered Office: Registered Office: Ministry of Rural Infrastructure & Ministry of Works & Infrastructure, Community Development, Enugu State Secretariat, Enugu. State Secretariat Complex, Yola. Bankers: Bankers: Zenith International Bank United Bank for Africa. Eco Bank Niger Osun Registered Office: Registered Office: Ministry of Agriculture and Rural Development Ministry of Rural Development, Gidan Aliyu Ndanusa, Water Resources & Community Affairs, Opp. Murtala Park, State Secretariat, Abeere, Osogbo. Bosso Road, Minna Niger State. Bankers: Bankers: Zenith International Bank Zenith International Bank Fidelity Bank Unity Bank United Bank for Africa Sterling Bank Access Bank FCMB Auditors: OLUFEMI ADENIJI & CO. (CHARTERED ACCOUNTANTS) OLADAYO HOUSE, No. 9, Summit Avenue, Oke- Agala Estate, Vine Branch Church Area, Off Queen Elizabeth Road, Mokola, lbadan, Oyo State. Telephones: 08033283589, 08180764030 E-mail: femadeniji2002@yahoo.com. Website: www.olufemiadenijiandco.com 3 REPORT OF THE PROJECT MANAGEMENT TEAM The Project Management team of Second Rural Access and Mobility Project (RAMP 2) present their report together with the financial statements for the year ended 3 1 st December, 2019. 1. PROJECT DEVELOPMENT OBJECTIVES The Project's Development Objective (PDO) is to improve transport conditions and bring sustained access to rural population, through rehabilitating and maintaining key rural transport infrastructures in a sustainable manner in selected Nigerian States. 2. PROJECT COMPONENTS. The components of the project are: i. Upgrading and Rehabilitation of Rural Transport Infrastructure. ii. Community-Based Road Maintenance and Annual Mechanized Maintenance iii. Project Management and strengthening of State and Federal Road Sector Institution. 3. FUNCTIONS OF THE FPMU MANAGEMENT TEAM i. The team has the overall responsibilities of project planning coordination and monitoring. ii. Interface with World Bank and equally ensure that funds are disbursed in line with the requirement of World Bank. iii. Responsible for preparing the accounts of FPMU/RAMP, under quarterly returns expenditure, consolidated accounts and end of the year's financial statements. iv. Ensure adequate internal control policy, a continuous audit of the project and render quarterly audit report to the World Bank. v. Quarterly Harmonization of States IFR (Consolidation). 4. BRIEF ON PROGRESS Following the effectiveness of the project in November 2013, the year 2014 witnessed the commencement of first batch of civil works in Niger and Osun states as well as the procurement processes for the award of contracts in the other participating states. The year 2015 also witnessed the commencement of first batch of civil works in Adamawa state and achieved completion of rehabilitation of over 200km of roads cumulative from inception. Significant progress was also made in the preparation of the next batch of roads to be rehabilitated. In 2016, the project completed rehabilitation of over 400km of roads cumulative from inception. The FPMU also engaged the services of an International Consultant to develop Nigerian Specific Low Volume Roads Design Manual, Low Volume Roads Maintenance Manual and Low Volume Roads Technical Specifications. This is a great achievement in the constructions/rehabilitation of rural roads in Nigeria. The FPMU in its oversight functions continued to support State Project Implementation Units (SPRUs) along side with the Bank team in the areas of Procurement, capacity Building, Financial Management, Safeguards and Monitoring and Evaluation activities. 4 In the year 2017, the project completed about 500km of roads and 31 river crossings cumulative from inception. The procurement of second batch of roads witnessed the launching of procurement process in Osun and Niger States. The negotiation of Imo State facility has been achieved with the Loan agreement signed. Achievement was recorded in the area of procurement of consultants that designed about 500km of rural roads as well as the design of about 35 (thirty- five) river crossings in the state. In 2018, the project completed rehabilitation of over 700km of rural roads and 56 river crossings cumulative from inception. The year also witnessed the commencement of civil works in Enugu state and the signing of Subsidiary Loan agreement between the Federal Government and Irno State Government. Progress was made during the year in project-up-scaling with the selection of 18 states,13 States to be financed by World Bank and AFD (Kano, Kebbi, Kogi, Abia, Akwa- lbom, Ondo, Ogun, Oyo, Kwara, Sokoto, Plateau, Bauchi and Katsina) while AFDB is to support the remaining 5 states (Taraba, Cross River, Anambra, Benue and Borno) under the new Rural Access and Agricultural Marketing Project (RAAMP). Some preparatory activities were completed and the pre-appraisal of the 13 states was carried out by World Bank and AFD. Furthermore, the completion of the state's ESMF and RPF as well as disclosure of the documents were achieved during the year. In 2019, the project completed rehabilitation of over 1,300km of roads 74 river crossings cumulative from inception, progress has also advanced in the project scaling up. The full- appraisal of the 13 states were carried out by World Bank (WB) and Agence Francaise de Developpement (AFD) as well as WB and AFD negotiation with Federal Ministry of Finance (FMoF) on behalf of 13 RAAMP states. There was also negotiation between Federal Ministry of Finance (FMoF) and African Development Bank (AFDB) on behalf of 5 RAAMP States to be supported. In the area of safeguards, the Environmental and Social Management Framework (ESMF) and Resettlement Policy Framework for the new RAAMP project was updated and disclosed. Some of the achievements recorded in 2019 include the following: i. Supervision and Monitoring activities ii, Training/Workshop of Staff in various field iii. The completion of the development of Project Procurement Strategy for Development (PPSD) Document for the proposed RAAMP states. iv. Full-appraisal of the 13 states were carried out by World Bank (WB) and Agence Francaise de Developpement (AFD) v. WB and AFD negotiation with Federal Ministry of Finance (FMof) on behalf of 13 RAAMP states. vi. African Development Bank (AFDB) negotiation with FMoF on behalf of 5 RAAMP states. vii. Completion of first batch of roads in Adamawa, Niger and Osun states while Enugu state is nearing completion viii, Commencement of second batch of roads in all the RAMP 2 states. ix. Commencement of civil works (380. 7km) in Imo state. x. Support to SPIUs to conduct Environmental and Social Safeguards Screening of selected sub- projects. 5 Key Team Members of FPMU The key Team Members of FPMU as listed on page 2 managed the affairs of the project during the year. Financial Statement of the Project-Management Responsibilities The International Public-Sector Accounting Standard (IPSAS) and the Project Implementation Manual (PIM) require the Project Management Team to prepare the financial statement of the Project at the end of the year and of its surplus or deficit. The responsibilities include: i. Keep proper accounting records that disclose, with reasonable accuracy, the financial position of FPMU/RAMP and comply with requirements of IPSAS. ii. Establish adequate internal control to safeguard its assets and to prevent and detect Inequalities in line with the PIM. iii. Prepare annual financial statements in accordance with IPSAS and as provided by the PIM, using suitable accounting policies supported by reasonable and prudent judgments and estimates, and are constantly applied. The Management Team accepts responsibility for the annual financial statements which has been prepared using appropriate accounting policies supported by reasonable and prudent judgments and estimates, in conformity with International Public Sector Accounting Standard (IPSAS) as issued by the International Public Sector Accounting Standard Board (IPSASB) and the requirement of Project Implementation Manual (PIM). The Management Team believes that the financial statement reflects the true state of the financial affairs of FPMU/RAMP. The management further accepts the responsibility for the maintenance of accounting records that may be relied upon in the preparation of the financial statement, as well as adequate system of internal financial control. Nothing has come to the attention of the Management Team to indicate that FPMU/RAMP will cease before its terminal date therefore, will remain for at least ten months from the date of this statement. Engr.Tbandoma Ularamu, Okoh J. Anthony National Coordinator, RAMP Project Accountant 6 OLUFEMI ADENIJI & CO. LAZO03 593 (Chartered Accountants) House 170, Zone C, 4, Shanu Street, OLADAYO HOUSE Near AMAC Hospital, Afariogun Way, No 9, Summit Avenue, Apo Resettlement, ' Oke Agala Estate, Vine Branch Church Area, Abuja. Ikeja, Lagos. Off Queen Elizabeth Road, Mokola, Ibadan. Tel: 08180764030 Tel: 08033283589 Tel: 08033283589 www.olufemiadenijiandco.con- r E-mail: femadeniji2002@yahoo.com The Project National Coordinator, Rural Access and Mobility Project (RAMP), NAIC HOUSE, Central Business District (CBD), Abuja, SECOND RURAL ACCESS AND MOBILITY PROJECT (RAMP 2) AUDITOR'S REPORT We have audited the accompanying financial statements of the Second Rural Access and Mobility Project (RAMP 2) for the year ended 31st December, 2019 as set out on pages 8 to 28 and prepared on the basis of International Accounting Standard, International Financial Reporting Standard, International Public Sector Accounting Standard and Generally Accepted Accounting Principles. Basis for Opinion We conducted the audit in accordance with International Standard for Supreme Audit Institutions (ISSAls)Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements Section of our report. We are independent of the entity in accordance with the Code of Ethics for Supreme Audit Institutions together with the ethical requirements that are relevant to our audit of the financial statements and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidences obtained are sufficient and appropriate to provide a basis for our opinion. 7 Partners: Adeniji 0. 0. (NIGERIAN) MBA, FCA, ACiT, Taiwo Olalere (NIGERIAN) MPA, ACA, CISA, CIA, CPA Responsibilities of Management and Those CharLed with Governance for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with IPSAS and for such internal control as management determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the Entity's ability to continue as a going concern, disclosing as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the project or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the entity's financial reporting process. Auditor's Responsibility for the Audit of the Financial Statements Our objective is to obtain reasonable assurance that the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with (ISSAIs), will always detect a material misstatement when it exist. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of our audit in accordance with Financial Audit Methodology (FAM), which is consistent with the Fundamental Auditing Principles (ISSAls 100-99) of the International Standards for Supreme Audit Institutions, we exercise professional skepticism throughout the audit, We also: * Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. * Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Entity's internal control. * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. * Conclude on the appropriateness of management's use of the going concern basis of accounting and based on the audit evidence obtained whether a material uncertainty 8 exists related to events or conditions that may cast significant doubt on the Entity's ability to continue as a going concern, if we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, up to the date of our auditor's report. However, future events or conditions may cause the entity to cease to continue as a going concern. * Evaluate the overall presentation, structure and content of the financial statements, including the disclosures and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identified during the audit. We also provided those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be brought to bear on our independence, and where applicable, related safeguards. OPINION In our opinion, the S c c o n d Rural Access and Mobility Project (RAMP 2) has kept proper Accounting Records and the Project Financial Statements are in agreement with the records in all material respect. The Project Financial Statements give a true and fair view of RAMP 2 Financial Position, Financial Performance a s cash flows for the year ended 31st December, 2019. OLUFEMI ADENIJl FCA, VRC/2013/ICAN/OOOOOOI 121 OLUFEMI ADENIJI & Co. (CHARTERED ACcOUNTANTS) 0 NIGERIA. 26'hJune, 2020 9 SECOND RURAL ACCESS AND MOBILITY PROJECT (RAMP 2) STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES FOR YEAR ENDED 31st DECEMBER, 2019 The following are the significant accounting policies adopted by the project in the preparation of its financial statements. 1. Basis of Preparation The financial statements of Second Rural Access and Mobility Project (RAMP 2) have been prepared in accordance with the International Public-Sector Accounting Standards (IPSAS) accrual basis of accounting. The financial statements are presented in Naira, which is the entity's functional currency and prepared under the historical cost convention. The preparation of the financial statements in conformity with IPSAS requires the use of certain critical accounting estimates. It also requires the Management of the project to exercise its judgments in the process of applying the provisions of the Project Implementation Manual (PIM) and reporting the amount of assets, liabilities, income and expenses. The actual results are likely to be different from the estimates. Changes in assumptions may have significant impact on the financial statements in the period the assumptions changed. Management of the project believes that the underlying assumptions are appropriate and that the Project's financial statements therefore, present the financial position and the results fairly. The estimates and the underlying assumptions are subjected to review on an on-going basis. Any revision to the accounting estimates are revised and any further years affected. 2. REVENUE RECOGNITION The project revenue is derived from International Development Association (IDA) and Agence Franyaise de Developpment (AFD) loan facilities and the State Governments counterpart funds. The project recognizes revenue when the amount of income can be reliably measured and it is probable that future economic benefits will flow to the project. 3. PROPERTY, PLANT AND EQUIPMENT The annual depreciation rates adopted for various asset categories are as follows: * Buildings 2.5 * Motor Vehicles 25 * Furniture & Fittings 12.5 * Office Equipment 33.33 10 * Laboratory Equipment 33.33 * Plant & Machinery 25 * Motorcycle And Tri Cycle 25 * Working Tools 50 * Road Maintenance Equipment 50 * Road Signs 50 4. INVENTORY Inventories are stated at the lower of cost and net realizable value, cost is determined by the First in First Out (FIFO) method. Where necessary, provision is made for obsolete, slow moving and defective inventories. Cost comprises suppliers' invoice, prices and other costs incurred to bring the inventory to its present location. 5. RECEIVABLES Receivables are recognized at actual value. No specific provision was made for doubtful collection. 6. PAYABLES Payables are obligations to pay for goods or services that have been acquired in the ordinary course of project activities from suppliers, service providers, consultants etc. Accounts payables are classified as current liabilities if payments are due within one year or less. If not, they are presented as non-current liabilities. 5. CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash in hand, and monies in the various bank accounts. 8. EXPENDITURES Expenditures include project upgrading/rehabilitation cost, state project management, wages of casual workers, repairs and maintenance etc. They are accounted for on accrual basis, 11 SECOND RURAL ACCESS AND MOBILITY PROJECT (RAMP 2) IMPACT OF COVID-19 ON FPMU The function of the FPMU is essentially project planning, coordination a n d monitoring. However, one of the Federal Government's COVID 19 pandemic associated response strategies is inter-state lock- down which has disrupted most of the activities o f the FPMU. Since implementation of the Project is at the states level, visit to the states to either support them in various areas of specialization (Engineering, Environmental and social safeguards, monitoring, etc) or to confirn or verify claims from state reports have been restricted. The gradual easing of restriction of movement of officers which allowed only very senior officers to come to work have generally slowed down activities at both federal and state levels. This also affected disbursement a n d replenishment of funds negatively. There are also some on-going contracts and pro curement processes that could be affected by COVID-19 especially those involving International c o n s u It ants. 12 SECOND RURAL ACCESS AND MOBILITY PROJECT (RAMP 2) IMPACT OF COVID-19 ON NIGER SPIU Bank request Response 1 List of ongoing contracts that are likely to be In view of the Curfew being imposed from time to impacted by the outbreak of COVID-19 and time by the State Government across the State. the likely impacts. -All ongoing Civil works are likely to be impacted resulting into slow Physical progress especially Package 1 Lot 1 and Package 2Lot 1 under Phase 2. -In addition Package 2 Lot 1{Enerco Nig Ltd) procures their material from Kaduna and Abuja to carry out their work. However, Abuja and Kaduna are in total Lockdown due to the COVID-19 Pandemic, Hence, it will impact on the Contractor's work. 2 List of ongoing procurement process that the Nil outbreak of COVID-19 could impact and how, 3 What can the Bank do to help in 2 and 3 In view of the Continuous spread of the Covid -19 above? Pandemic all over the world, the Bank may consider extending the Project closure date by 3 Month to allow completion of all outstanding Civil works. 4 Do you have shortage of counterpart fund Recall that, the Bank said no SPT will charge fund to resulting from fiscal challenge by the State? component 3 any longer until Fund is available through the planned project restructuring. The SPIU has activities lined up under component 3 of the project, However the available Counterpart fund will not be sufficient to implement all the activities. Hence the SPIU is short of Counterpart funds. 13 SECOND RURAL ACCESS AND MOBILITY PROJECT (RAMP 2) IMPACT OF COVID-19 ON ENUGU SPIU S/N ACTIVITY IMPACTS OF COVID19 1 Asphalting of selected Phase * Prolonged lockdown and inter -state border closure 1 Roads is making supply of bitumen, cement [from Lagos or Port Harcourt) and aggregates (from Abakaliki in Ebonyi State) impossible. * Workmen require incentives to come to work and some would rather stay at home. * Consumer price Index (CPI) of most items has been on the increase in the last few months and became pronounced after the lockdown, * Some items of work which might have been done before the onset of heavy rains may be halted and delayed up to the peak of the rainy season in July 2020 due to unavailability of materials as stated above. * Inflation rose in March in Nigeria to its highest level in 23 months according to data released by the National Bureau of Statistics [NBS]. * Nigeria's annual inflation rose for a seventh straight month, as border closures and lockdown of the country occasioned by the coronavirus pandemic pushed prices higher. * Due to Covid-19 Ministry of Works Laboratory and that of University of Nigeria Nsukka (UNN) are not fully functional, therefore, contractors are facing the problem of testing of materials 2 Rehabilitation/Construction * =Ditto 1 above= of 270.059km rural roads * Prolonged lockdown and inter -state border closure made the supply of equipment and materials like cement, aggregates and re-enforcements very difficult for the contractors from outside the State. This has affected the performance of some of the Contractors. 3 Construction of 21Nos River COVID-19 lockdown has affected the movement of men Crossings in Enugu State and materials to the sites by the Contractors and aswell limited the scope of operations of the contractors 14 SECOND RURAL ACCESS AND MOBILITY PROJECT (RAMP 2) IMPACT OF COVID-19 ON IMO SPIU 1. THE EFFECT AND IMPACT ASSESSMENT Assessing the Effect/Impact of the COVID- 1 9 crisis in our various Projects are fundamental to inform, direct and guide us and also our Sponsors/Donors. The objective of this Report is to explore the potential effect/impact of the COVID- 19 outbreak on the projects management. 2. THE EFFECT OF THE COVID-19 PANDEMIC ON RAMP 2 PROJECT The Project (Imo RAMP 2) have experienced significant effect/impact from COVID -19 Pandemic resulting from the slowdown, suspension and stopping of work on sites temporarily because of the human health and life involved and the Federal and State Governments directives of lockdown. 3. EFFECT ON THE ENVIRONMENT The COVID- 19 Pandemic crisis impacted much concern on the environment of the various projects sites because Imo State was one of the affected States with index cases. Hence, ecological and human systems were at stake, which prompted the projects suspension and slowdown, 4. EFFECT ON THE EQUIPMENT/MATERIALS The COVID- 19 Pandemic brought an unprecedented blow to our already planned and scheduled projects. The Contractors no longer have access to most of their equipment and materials because of Global Lockdown. 5. EFFECT ON THE CONTRACTORS /WORKERS AND THE STAFF The sudden outbreak of COVID-19 Pandemic crisis present a dangerous Global Health Hazard and the daily rising death in the Country and in the State. The life of the Contractors, workers and staff were at stake hence, the suspension of the various projects premised by the Federal and State Governments lockdown of the whole Country. 6. EFFECT ON MANPOWER TRAINING AND DEVELOPMENT The COVI D-19 Pandemic affected Year 2020 scheduled and planned Manpower Training and Development. The planned training could not take place because of COVID-19 threat and the Social Distancing directives. We hope that with the easing of lockdown, the training resumes. However, we were encouraged and refreshed by the Virtual Video Conferencing but not without its attendance challenges of incessant Power outages and Network problems. 7. SUMMARY The damage, destruction, delay and the hazardous environmental impact and effects caused by COVID-19 Pandemic cannot be over-emphasized. We expect that the COVID-19 Pandemic threat will eventually fade away, as the Ebola, Zika and even the Severe Acute Respiratory Syndrome (SARS) virus have in recent years, to enable us reposition and focus on our Projects delivery and management. 15 8. RECOMMENDATION To help us understand the Effect, the Impact, the Exposure and the way forward to COVID-19 Pandemic and most importantly, Reposition, Focus and Deliver on our various Projects Phase by Phase and meet the deadlines: A COVID-19 PANDEMIC INTERIM COMMITTEE BE SET UP in different RAMP PROJECT STATES to Review, Evaluate, Assess and Appraise the work done so far and proffer the Way Forward to meet up the Phase-by-Phase projection and analysis of various projects and forward their findings to the Project Consultant (World Bank). This will serve as a living methodology that will improve and enrich the over-all assessment and targeted delivery of various projects, 16 SECOND RURAL ACCESS AND MOBILITY PROJECT (RAMP 2) IMPACT OF COVID-19 ON OSUN SPIU 1. List of Ongoing Contracts likely to be impacted by Covid-19 and the likely impact i. Ongoing 2nd phase road construction: The roads are expected to be delivered by 4' of March, 2020 after two months extension was granted. As at now, only 14 out of the 28 roads had been handed over while the others are near completion. There are also some remedial activities and safeguard issues being attended to prior to the lockdown of the state, all these activities have been temporarily suspended until things are back to normal. ii. The likely impact of Covid- 19 lockdown on the project is mild. This is because the project only need few weeks from the end of the pandemic to fully deliver on all the on-going projects based on the percentage progress of about 90% recorded so far. 2. List of on-going procurement process that the outbreak of Covid-19 could impact and how i. The ongoing 2nd phase road rehabilitation/construction is the only on-going procurement process as explained above. 3. What the Bank can do to help in 1 & 2 above: i. None for now, 4. Interstate movement restriction hindered free movements of contractor's personnel and equipment as a result of the directive of the Federal and State Government due to Covid-19 Pandemic. The State Project Implementation Unit (SPIU) is however taking steps by liaising with the State Government to obtain a clearance for Osun RAMP 2 Contractors for ease of movement during this period. 5. In the meantime, the Contractors have now been able to re-mobilize back to site due to relaxation of the Covid-l 9 lockdown. The project was also able to secure clearance for the Contractors to address the challenge of interstate movement of Construction equipment, materials and personnel. 6. Currently, all the project's contractor staff and also the staff of the Supervising Consultants are within the state carrying out construction work due to ease of movement, Osun RAMP 2 will do all that is necessary to assist the Contractors to complete the outstanding construction activities with compliance to the Covid-I9 guidelines and ensuring that the health and safety of both Contractor, Consultant, SPIll staff and the communities alike are not compromised. 17 SECOND RURAL ACCESS AND MOBILITY PROJECT (RAMP 2) CONSOLIDATED STATEMENT OF FINANCIAL PERFORMANCE AS AT 31ST DECEMBER, 2019 NOTES 2019 2018 INCOME: IDA Credit 1 4,045,835,419.90 - ** AFD Credit 1,890,000,000.00 - ** Counterpart Fund 1,305,493,199.91 ** Miscelleneous Income 14 4,644,151,528.66 267,506,782.84 11,885,480,148.47 267,506,782.84 Expenditure: Community Based Road Maintainance and Annual Mechanized Maintainance 2 1,468,938,722.80 1,091,908,548.48 Project Management and Strengthening of State and Federal Sector Institution 3 1,377,362,059.35 637,372,404.34 Upgrading and Rehabilitation of Rural Roads Transport Infrastructure 4 12,868,789,192.82 6,383,704,195.79 Depreciation Charges 16 265,768,392.52 207,388,975.12 15,715,089,974.97 8,320,374,123.73 Surplus/(Deficit) for the year (3,829,609,826.50) (8,052,867,340.89) Note ** In 2018, the incomefron IDA, AFD credit and Counterpart Fund were nil because they were classified as Funds in the Statement of Financial Position. This is not in line with Matching Concept 18 SECOND RURAL ACCESS AND MOBILITY PROJECT (RAMP 2) CONSOIJDATED STATEMENT OF FINANCIAL POSITION AS AT 31ST DECEMBER, 2019 2019 2018 ASSET NOTES N N Current Assets Cash and Cash Equivalents 15 11,861,876,827.96 18,735,423,470.94 Fixed Deposit 7 700,000,000.00 700,000,000.00 Receivables 5 3,786,535,237.53 4,464,010,657.83 Prepayments Inventory 6 4,469,685.00 4,469,685.00 Total Current Asset 16,352,881,750,49 23,903,903,813.77 Non-Current Assets Property, Plant & Equipment 16 411,401,309.64 619,149,944.30 Total Non-Current Assets 411,401,309.64 619,149,944.30 Total Assets 16,764,283,060.13 24,523,143,608.07 LIABILITIES & NET ASSETS Current Liabilities Payables 8 241,781,460.42 241,781,450.42 Total Current Liabilities 241,781,460.42 241,781,450.42 Net Assets/Funds: Accummulated Surplus/ (Deficit) 18 (26,889,939,383.39) (19,131,078,825.46) IDA Credits / Funding to Date 10 32,994,893,200.07 32,994,893,200.07 AFD Credits/Funding to date 11 8,688,510,712.21 8,688,510,712.21 State Government Contribution to Date 12 1,729,037,070.83 1,729,037,070.83 Net Assets/Funds: 16,522,501,599.72 24,281,362,157.65 Total Liabilities & Net Assets/Funds 16,764,283,060.13 24,523,143,608.07 These financial statements were approved and authorized for issue by the key Project team of RAMP 2 on................2.. .....2020 and signed on Its behalf by: Engr. Ubandoma Ularamu Mr. J. A. Okoh National Coordinator, RAMP Project Accountant The notes on pages........... to ............. are an integral part of these financial statements. 19 SECOND RURAL ACCESS AND MOBILITY PROJECT (RAMP 2) CONSOLIDATED STATEMENT OF CASHFLOW FOR THE YEAR ENDED 31ST DECEMBER, 2019 NOTES 2019 2018 N N Cash from Operating activities Surplus/ (Deficit) for the year (8,557,017,943.22) (8,052,867,340.89) Cash inflow adjustment 13 943,415,522.82 882,572,975.82 Items not Involving movement of cash Depreciation 16 265,768,392,52 207,388,975,12 Working capital changes Receivables 5 677,475,420.30 1,354,610,644.65 Prepayments Inventory 6 (147,190.00) Payables 8 10,00 (548,702,483.01) Net cashflow from Operating activities (6,770,358,597.58) (6,157,144,418.31) Cash flow from Investing Activities Deposit Other non-current assets 16 (103,188,035.40) (384,053,412.00) Net cashflow from investing activities (103,188,035.40) (384,053,412.00) Cash Flow from financing activities IDA Credit 1 - 7,766,825,835.86 AFD Credit 18 304,447,755.18 STATE GOVERNMENT CONTRIBUTION 1 878,343,265.56 Net cashflow from financing activities 8,949,616,856.60 Net cash changes for the year (6,873,546,632,98) 2,175,311,051.73 Cash and Cash equivalent at 1st January 18,735,423,460.94 17,270,671,543.97 Cash and Cash equivalent at 31st December 15 11,861,876,827.96 19,445,982,595.70 20 斤 о rv ,-� м � т т о ьл й г:я о м о,� ���� � г� л о т и ш о о и оо f`� r-1 д M1 l0 СТ V N N f� l0 б ОС] 00 ОО � сУ 1� ,--+ Ш V еУ а5 н 00 �п ш О С4 +--+ М ш 1� h 01 l0 N ц1 т ц� i� t7'1 SЛ О f� 41 N � т 41 S1 .-i N f71 и lO' О О м h 00 � С7 Q С7 lD N N 1� н lp о �°• ¢;р � О N 7 N 01 И ED lO LП т д' N 1� N б1 q� N н`-ry qq 'и'� r` т� иу д' � N $+� С71 4'1 Q и М 1'� 00 Н � ы,..н... о д' mV 00 .у N '" '-� � � О� .�л 4 м lD � Qт М N Р г+1 О f� О и�.D N R О v--1 CG н оо о rv. с4 и rч об оо о м�л ш о и ао M1� et W 41 М N 1`� N 00 4' ГV Г'� N N h-- С � 00 й] W Т V1 � �� т lD Н н и N т н р(} и т W н М N J R l0 � h О1 о Г�. 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STATF.S' Р[EOJE!'f SТлТF.\1EN1' ОР EI.`Iл}I4'1AL Р651T1UV FRR TE1F. УЕАд EN1}Е1Э 3IST UECEtiI8Ep.111lЧ tPMV А[1AMAWq SТдТ€ даМР 2 ENVGU S1ATE йАМР 2 N1GEfl SТАТЕ йдМР 2 OSVN 5Та7Е йаМР 2 2019 2018 2019 2018 2019 201В 2019 201В 2019 201В 0.55ЕТ5 NOTES И И Ч И И И М И И Ч Сигг.глЕ Аsгггг' [ashaпdCash€ПЧiуаlепг 15 17,334,575�31 172,829,594-1а й,ОfЮ,243.333�11 4.503,534,203-78 6,36191Sб96.9T 6,б14.664,2А007 1J56,69?865�81 2,247,10З.368.3t 25,a6г,99G�7D 3.197.292Д24�44 F�.eANepas�u 7 - ' - ' ' - ' .. 700,000.000.00 100,000,О90�оо д¢гei�aЫes 3 67,ОЗг,305.27 67,012,305.27 ЗФ3620,59193 356,50П.ООО.9Я 2.896,5г0,737.00 1,846,520,737,б0 715,614.150,00 7k5,614,3SU.60 {23fi,252.746.б7� Ф28,34J.165.56 PrepaYment . . . - . lпчепЕоец 6 - 4,469:685.Од 4,46966500 _ ' . ' - � --- ° -"'°� ' � о1Т.ОТ � 2,172,31г,гt5.81 2,462,7l7,718.5Т 489,210.250..03 4,325,БЗ5,У90�00 7и[a�tutren[ASSe1s Я4,SВ6,890.64 239,B61,899A1 4,3Q8,}}5910.04 9,В54,50Э,е68.78 9,25В,4Э6,6Э3.97 11,921,185. . Non-CUrrent а3ге13 Property,Plaпc&Equlpmenl l6 44372115.81 1г,003р03.{15 31,300.9з94г 88,213,784.79 22,7о6,935.Э3 Э8,440,5598В 9T,S39,529.51 156�Э22.098.75 195,г87,е89.57 Э22.12б,497.84 Таtаlпоп°currenlaisel3 AA,372,115.e1 12,003,W3.05 51,500,834.42 � ЯЯ,2I3.784.79 22,706,43S�З1 38,П90,55988 9T,539,529.51 l5В;Э2г,098-75 195.281.еЯ9�57 322,1г0,4Ч7.е4 TqYalASSels 12В,958,956.Ф5 251,864,90Е.Д6 4,Э99,8Э6,649.46 4,952;717.4Т3=57 9,г81,143,569.Э0 11,5Ф9,675,516.95 2,г69,851,745.32 3,121,039,817.2Б 684,Ф92,139.Бб 4,64Т,Т55,Т87,е4 Ца Ы1}[йе5 & N¢I A55ets rиггепи ttль �f1�es РаУ Ьр г R 49,179,863.93 48,179,867.91 40,Ъ19,393.Ь8 40.519.}9З.18 78,4ФВ,i19.12 39,490,559.9В _ - LS4,634,б64�.23 I14,6}оД54.21 Тога1 Currents 11iЪ11Э[Эег 4в,1Т9,86Э.91 � 48,179,®63.9k 90,519,393.18 40;519,393.18 � Э8,ФФ8,i39.1г � ЭВ,490,559.88 -� �' �114.БЗФ.Р64.21 4,9Э3,121,73Э.БЗ гагг А55ег5/ типа: 18 Аггипи�лгедsигрiигlOeFй1 Ч {s26,244,го1sг) {ео3.зз8.иss1} (4,19e,6so.zx�1.761 t3,645,769дos.6sy 879.831,ь33.z6 з,1ав,47Э,ц0-91 �e,7o3,1з1,z6a.37I 17.4s1,9П3,396л31 S14.Э41.Т63,ЭР_Oq �1о,Эгвsоl.ыв.п� iPqCredilfFundMgtodлlc 10 9з9,990,988�79 939,9Ч0,98В,74 6k70,942,48604 6,670,942,48б09 6,211А04,652.68 б,2l1,Вб4,63Р.68 В,31Э,197,63Ф.21 Я,313.187,034-21 19,858,96R,038.35 10,858,9б8,ОЗН-35 � агоггед'�VFипаэп$юдаге 11 � � 1,043,z3o000.00 1,o43,xs0,oo00o г,9зб,lsz,ыо.а4 i,936,15x.62a.z4 z,o84,79s,9a9.48 z,084,795,979ле з,ыа,31г,1о8.49 а,б24,312,1оs.49 � i1a[гG4И-СФтгЬиtiопгодл[е 12 6Т,032,З05,27 67,032,З05.27 847,775,бОб00 843,775,б90,00 214,ев5,500.00 21Ф,886,500-00 175,д00.Ф96.04 ы5.9W.СЮ000 42В,343,г655_Б 42$,Э43,2GЪ.36 I Ne2ASxe1s/Wпds б0,779,092.54 203,585,038,55 4,359,311,25б.28 4.912,198,280.ЭЧ 9,г-02,б95,4З0.1е l1,S11,317,287.83 2,259851;7Я5.32 3,121,039,817.26 564,858,075.Э9� 4,533,121,73Э.6Э � Тпlтsаль�гryьЧегаssе[s/ЕипаS 1ге,яsв,9sб.45 гsl,в6ы,е0z,46 4,ЭSя,8Э6,649.44 -� 4,9sх,717,ы Эsт 9,28],д43,s69,3о г1,sа9,еоi,е47.г1 �z.z64ss1,749sz. 3,1zt,oз9,в1T.z6 б8а.4эг.1З9.60 9,о6ь,243,Фбз.zS � . � Е3 � Иk.ЧИ:1гl1,СЧtй]FtT\1л.V.aS3F:s1t:\Tl�\1С -----.... . - .-. . . .+х:(:11\'11 Hl'�1lAL.lCY't:чс дЛ"11 ��иьЧ1L1Т5' РЧ(!}1(-Г 1К.1\1Р зИ 9TдTFti' РКt1.11'tTtiT,ltt:\1F.\Т1Г} ('Лс11И1.С�и iгЭ1г С11И' 1'С.SК F.`.'f1}:1111л'Т Е1И.('F\1ЧИ:Ч- г+119 Г(П PkO1Etf МАНАGЕмЕЧТцЧR АодМАWА SfqfE RгеЧ1Р 2 6ЧVGJ SГдГЕ ММР г юGЕК 9ГА1Г RAMP! 03ЧИ SгдПМмР г ЧаГЕS 1014 ZOIB 2019 2П1В 2019 2018 2019 2д18 ë014 2018 W у ц р й Ч Ч И И S.�,o�Wlueririцln,гaevp�� 11u6.BV4.dгйsq f+z3S5r,53oa21 1ыб,аввАзгггl 11,58Э,гьь,s4ч.оа1 (3.1ю.1zs.9iапж] 1а1Э,5г9,о1]ь5} (в4],оог.ыгiSУ (г.юг�а,пЪ},аь31гИ lьае?851,гоэбдl 1г,4m,5w,4ssloy [ьsM1�пПоЧадj�гьпепi 1Э 116П39.б1Иб11 9Ь,д3П.а6}65 118,w>.WdOi eB1eg1,9a1fik 88Р,НЭ16sЭ13 (5)9.9дЬ.ь43ЭС1 (Э,lell,s99.39/ 1,4М,п9i,61вФ�1 1И3,!<).ББ1,Ы1 155l,Вгq65Э9д1 -пчп5,�.пи мо.гп,гы мИ га�м - - - о<опг��>г'ап ьп цs}},iП1га 5.зга.ахчт 19,бвг.кяаsб аиsьб.бzвп задьб.иаяss ха.ьаэ.гьо.и ах.иs.окнп аs.vи.пб.чг 8И.иа.чаогч 1вьа1-r1.3ь woгNn{ рэR+1 �ап1г+ екенааьег Iл}.п44,рБgййг sг.вг9,463v ео.}аьвгz.lИ 1.tsT4o?заг.qо - 654.5цб,оlгlЭ s.w3,as3.l9 Pгr�wvmemч ' - � пчгпьогу 6 � � 114г.19а.оо1 - - р,w,ы.гг в 1sr.ыl.вог.SЛ � П6.he.eц.yl � залев.и9ц - Wь3.1е5,зьв1вl lадо 1sй,sзl,ыв.ыд мегса.�мРпwгrпмаvелИипаггпгмк. роп,9s1,3}ы.Гп .�____Uея.охы.юlч.оыl 1soo,9x6.эz9-sn! I Rs ..ыl9iпар 1х.хэs.Эвгsи-эо1 1ь4,пг.яааsь [1s9цгь;ыэ.zзl Ч.в9гsз9.nз.ьв7 _.Р.vв.Иы .1оаа1 1ЭА1ь,Эо9,аи.воl sйПvwlюм inreNFrц anx+hкs�. а Р ,г � h�мп-г„пsпгаsсеls чь 151,3]г.sгобоf 1г.6пb.WзЕ°1 1г 3�11111 -. llое.зао.обпМ1 1 ez.9цrtol 16.865.roбW1 --. 11©,БЭЭ,аs91l1 1515пвьсотl 11.465.в56аР1 4lы.1 ечгооl . soe,oao.[а1 Iк.аьь,еsо.об� рог,пы,4lг.аа( меггаьмгю,нЧотlпчтЧпж,пнп��г, 1sa.3zt.sгa6бl 1].ппб.апо.об( ._. (й.й?Эя1.1Э1 _, (1вс.3а4,аоа.ооl 1.ве,еъаеаl 1ьАы.осю.о61 I1o,ьд3.s94aI 1 �°� Жfр^Г {acM1Aow M1wп Пммп1 апмЧгг: � 1OR 11гд�1 l 221.398.]]9 в4 1.k16.219.11920 ' ? О)3,11о ВВ6ПЧ 1.к5l,]94.965 в3 д%ОСгед�1 1в - � � � � � 30.1,4А],155.1в ' S1aleGare+nment4лnь:GuГinn L - � гОФ.пСО.РWВб - )5.6W,IXЮPO . 5г-ч,Сбб,С9пбб - . --. вlы,Эа]l6556 1 Не[ч�ИИоwFотГiпа�мfп0ммitlеь � 2йl.Эча,ггаыд - }.416.х19.к19.го - 15.600.,игв_оо 1,х5в.41в,в8п.бп г,9и5,581,9ы6.56 j иеtигИSлапвеsl®ь1МгVеаг � l155,гг5,о58.lг} 11];,61ПбJв.кJ1 {i0}.гВВ6аU�бг1 1o,s11:k81.33 (гг5i.й4&)вЭ�1о1 2}1161.Э]J56 1139.F6S.i02г% . Е,п6 1sв.Эг 1зi]1В19б1г.гJ1 (2ы85].50Bta1 j [эгмапд[агмеq��и4пИаИ1,11мшгу 112.В29,594.14 . . Баг.3а 1,5Ы.51JZ0.11B й 81,н1ь,v ыs_ t6146в42вбп] b,3B эos5t 1У4Р1U1,9б].54 10вА1 D22P.19 Э14 . аа 411�,16l651W j гл.lмаwияИе®пн.мпьлииlаек�ыгг �°' Easse,sls.3r vtaz9,994-14 4,оои,гп,tп.и аsог.5и.гмlа�� аы,9хs,Б9ь.аг ь,вивы,йевба 1,а5ь.ь9?вьs.еl хzиlоЭ,зьикsх Рг,аьй.ч9`ь;Го Э.ю?ы,иыно 1 i гs FED ERA I.PROJECT,% IAN,,LG.,%4ENT UNIT SECOND RURAL, ACCESS ANnNIOB I LITY PRO ECT(RANTP 1) STATENTENTOF('11ANCES IN NET ASS ETS/ EQUITY FOR TFIE YEAR ENDEDJIST DEC EA11WR, 2019 ADAMAWA STATE ENUGU STATE PRIOR YEAR PRIORYEAR YEAR 2019 OPENING AMOUNT FOR THE ADJUSTMENT/ YEAR 2019 CLOSING YEAR 7019 OPENING AMOUNT FOR THE ADJUSTMENT/ YEAR 2019 CLOSING BALANCf YEAR 2019 UNREPORTED FUND BALANCE BALANCE YEAR 2019 UNREPORTED FUND BALANCE N N N N N N N Accumulated Surplus/ (Deficitj (3,64S,769,205-65) (670,888,032.12) 118,007,008-01 14,198,650,22936) 3,148,473,510.91 (3,149,423,GS7 081 880,801,799.43 879,851,653.26 IDA Credits 6,670,942,11WOZI 6,670,942,486.04 6,211,804,652.GB 6,211,804,652 68 AFD Credits 1,043, S!3,001).DO 1,043,250,000.00 1,936,152,624-24 1,936,152,624L24 State Government Contribution 843,775,000-00 843,775,000.00 214,885,500.00 214,886,500 00 CHANGES IN NET ASSETS 4,912,198,280.39 (670,888,032,121 - 4,359,317,Z56,28 11,511,317,287.83 (3,149,423,657.08) 880,801,799.43 9,242,695,430,18 NIGER STATE OSUN STATE PRIOR YEAR PRIOR YEAR YEAR 2019 OPENING AMOUNT FOR THE ADJUSTMENT/ YEAR 2019 CL05ING YEAR 2019 OPENING AMOUNT FOR THE ADJUSTMENT/ YEAR 2019 CLOSING BALANCE YEAR 2019 UNREPORTED FUND BALANCE BALANCE YEAR 2019 UNREPORTED FUND BALANCE N N N N N N 1`4 N Surplus/ (Deficio (7,4SI,943,196.43) (847,007,672 55 (4,180,399-39) fB,303,131,268.371 (10,3 79,501,6 78 77) (80,411,94() 16) (14,341,765,337 01) IDA Credits 8,313,187,D34 21 B,313,187,03C21 10,358,968,038 35 AFD Credits 2,D94,795,979-40 2,084,795,979AS 3,624,3 1 M 0 a 49 3,624,312,[08,49 C..t6b.t.- 175,000,DOO.OD 175,000,000.00 428,343,265,56 428,341,265.56 CHANGES IN NET ASSETS 3,jZj,D39,R17,2G (847,UO7,672-55) 14JF10,39939 2,269,951,745-32 4,S33,121,733-63 13,882,851,7D9.08) (80,411,949,16) 569,858,075-39 FEDERAL PROJECT MANAGEMENT UNIT PRIOR YEAR YEAR 2019 OPENING AMOUNT FOR THE ADJUSTMENT/ YEAR 2019 CLOSING BALANCE YEAR 2019 UNREPORTED FUND BALANCE 18 N N N Accumu$atLd Surplus/ (Deficit) (803,3313,ZSS-51 (106,846,872 401 J16,I)S9,D73.61) (926,244,201.52) IDA Credits 939,990,98939 939,990,98839 AFD Credits - State Government ContribuVon 67,D32,ADS.27 67,D32,305,27 CHANGES IN NET ASSETS 203,685,038.55 (106,846,972.40) (16,059,073,61) 80,779,092.54 6 FEDERALIROJECT MANAGEMENT UNIT SECOND RURAl. ACCESS AND MOBILITY PROFCT (RAMP 2) STATE'S PROJECT STATEMENT OF BUDGET PERFORMANCE FOR THE YEAR ENDED 3IST DECEMBER, 2019 ADAMAWA STATE ENUGU STATE Upgrading and Rehabilitation of Rural Transport Infrastucture: BUDGET (N) ACTUAL (N) VARIANCE(N) BUDGET (N) ACTUAL (NJ VARIANCE (N) Upgrading/ Rehabilitation of Rural Roads: Works 4,039.39325 n7 1.b3.tlO.17,a4 2,.04139A 3b50 3,52S,658,940.15 Z,693,088,382-91 832,570,557.24 Upgrading/ Rehabilitation of Rural ROds: Consultancy 16a'es.5o60ra ( alasssso a 517.099,460.88 517.099,460.88 Upgrading and Rehabilitation of River-Crossings: Works nG20se,an-a a05.17.24.26 ns,a3335 84 1,451,347,267.00 384,288,02858 1.067,059,238.42 Upgrading / Rehabilitation of River- Crossings: Consultancy 8 n219.667 (a,uan.6s7 Sub-total 4,M,18,30o 01 1t,6.73t,7 24 5,494,105,668.03 3,077,376,411,49 Community-Based Road Maintainance and Annual Road Maintainance Works Contracts 497.m.o730 n2s,32us23 I3o1oss622- 106,115,001.31 (106,115,001.31) Technical Assistance/ Consultanting Services 52.00Ro8.00 62'590.5n1.5 sd (,582,5s5 5 26.247,051.87 [26,247,051.87) Sub-total 54,.432730- 560.915.31175 132,362,1153.18 Project Managementand Stregthening of State and Federal Road Sector Institution: State Project Management: Fixed Asset (Goods) ,sc0co co -1,t0 66,560,000.00 1,532,3R8.4 65,027,611.60 State Pro1ect Management: Technical Assistance '00`000 - x1.c00(nto - 4,180.300.00 (4,180,300.00) State project Management Studies & GIS-Based Road Investment -24,570,782 35 (24,570,782.3S) State Project Management: Training, Capacity Building 1 n.3o3.000 00 ar,nosno3. Iross 01 44,216,330.00 (44716,330 00) State ProjectManagemevt: tperating Costs 133.50D.CQU-W t17,assnsea 79.139lt 574,8fi5,068.00 373,954,318.58 200,910,74942 Federal Project Management: Fined Assets (Goods) Federal Project Management. Technical Assistance Federal Project Management Baseline & Impact Evaluatmon Sur 1800 Federal Project Management: Operating Costs Sub-total 272,330,018.00 200,475,707.59 641,425,05B00 448,954,119.33 192,470,94867 Grand Total 5,543,020,05S.07 Z,486,122,207.58 6,135,530,736.03 3,658,692,584.0a 21 FED ERALPROJECT MANAGE [1ENT IUNIT SECOND RURAL ACCESS AND MOBILITY PROECT (RAMP 2) STATE'S PROJECT STATEMENT OF BUDGET PERFORMANCE FOR THE YEAR ENDED 31ST DECEMBER, 2019 NIGER STATE OSUN STATE upgracing ana nenauitarion or Rural Transport Infrastucture: BUDGET (N) ACTUAL (N) VARIANCE(N) BUDGET (N) ACTUAL (N) VARIANCE(N) Upgrading/ Rehabilitation of Rural Roads: Works 5,434,929,701.41 3,735,861,182.73 1,699,068,518.68 20,424,309,12 3,918,501,636.05 (3,9Ra,0n7,326 93) Upgrading/ Rehabilitation of Rural Roads: Consultancy 454,295,094.78 381,770,084.56 72,525,010.22 749,255.24 110,158,621.50 (lss.,ssals) Upgrading and Rehabilitation of River-Crossings: Works - 58,632,277.62 (58,632,277.62) - (130,242,199.37) 130,242,19937 Upgrading / Rehabilitation of River- Crossings: Consultancy Subtotal 5,889,224,796.19 4,176,263,544.91 21,173,564.36 3,898,418,058.18 (3,877,244,493.82) Community- 3ased Road Maintainance and Annual Road Maintainance Works Contracts 475,771,932.13 319,001,984.13 156,769,948.00 2,620,609.00 408,232,406.92 (405,fi1,797.92) Technical Assistance/ Consultanting Services - 18,658,089.58 (18,658,089.58) 162,091.35 4,921,827.14 (4,759,735,79) Subtotal 475,771,932.13 337,660,073.71 2,782,700.35 413,154,234,06 (410,371,533.71) Project Managementand Stregthening of State and Federal Road Sector Institution: State Project Management: Fixed Asset (Goods) 90,708,092.00 30,643,459.47 60,064,632.53 5,025.00 1,466,850.00 (1,461,825 00) State Project Management Technical Assistance - 6,200.00 1,446,112.00 (1,439,912o1 State project Management Studies & GIS-Based Road Investment State Project Management Training, Capacity Building 16,000,000.00 7,448,396.86 8,551,603.14 50,000.00 2,482,447.70 (2,432,447 70) State ProjectManagement: Operating Costs 117,703,500,00 160,910,509.53 (43,207,00953) 766,705.81 275,675,301.92 (274,908595.111 Federal Project Management: Fixed Assets (Goods) Federal Project Management: Technical Assistance Federal Project Management Baseline & Impact Evaluation Sur Federal Project Management Operating Costs Sub-total 224,411,592.00 199,002,365.86 25,409,226.14 827,930.81 281,070,711.62 (2B0,242,7O0 81 Grand Total 18.00 4,712,925,984.48 1,876,482,335.84 24,784,195.52 4,592,643,003.86 (4,sG7,as,a8.34) 2B l …갼 - l l FEI)ERAI,PROJECT NIAN, GE,NIP'N'f IJN IT SECOND RURAL ACCESS ANDMORUATY PROIECT (RAMP 21 NOTES TOTHP ACCOUNTS FO]R'l'flL YEAR FOIRTHE YEAR ENDED31STI)ECENIBEIR,2019 HQ ADAMAWA ENUGU NIGER 05LJN TOTAIL I Fund Inflow for the Year N N N 1`4 N N IDA Credit 91,8oo,000,00 1,1139,305,195 Z4 2,024,986,G14 90 4,045,835,419L90 AFD Credit 1,890,000,000.00 1'8q0'ffl()'0()0.00 Conterpart 120,051,000.32 403,218,237 00 782,203,9G2,59 1,305,493,199 91 Total 211,8 1,0(10.32 492,981,645.76 3,914,986,614.90 782,203,962.59 7,241,328,619.81 Community- Based Road Maintainance and Annual Mechanized 2 Maintainance Road Maintainance Works Contracts 505.324JA6 21 11015,115,001.31 319,001,984.1 408,232,406-92 1.139,674,179.57 Technical Assistance/ Consul tanti,,g Service 115,847,040.10 62,S90,535 54 26,247,051-87 18,658,089-58 4,921,827L14 Total 16,347,040,10 132,362,053.19 337,660,073.71 413,154,234.(16 1,468,938,722.00 Project MaintainanCe and Strenthening of State and Federal Road 3 Sector institution: State Project Management: Fixed Assets (Goods) 1,532,388.40 1,S32,388.40 State Project Management : Technical Assistance 4,180,300 00 1,446,112 00 5,626,412-00 Slate Project Management: Studies & GIS-Based Road Investment 24,570,782,35 24,570,7a2.35 State Project Management: Training, Capacity Building 2,674,980-00 21,989.801 OD 44,716,330 00 7,448,396.86 2,482,44T70 81,310,957.56 State Project Management Operating Costs 176.486X4 59 3 73,954,318.58 160,91D,509.53 275,675,301.92 997,027,034 62 federal Project Management: Fixed Asses (Good5i Federal Project Management Technical Assistance 47,778,788-07 47,778,798.07 Federal Project Management Basefine Impact Eval. SUR 39,244,91&SO 39,2414,918.50 190,210,238m Total 279,908,925.3H 2UU 1,377 362,059-35 FEDEItAI.PROJECT MANAGEMENT UNIT SECOND RURAL. ACCESS AND MOBILITY PROECT (RAMP 2) NOTES TO THE ACCOUNTS 1OR THE YEAR FOR THE YEAR ENDED 31ST DECEMBER, 2019 HQ ADAMAWA ENUGU NIGER OSUN TOTAL N N N N N N 4 Upgrading and Rehabilitation of Rural Transport Infrastructure: Upgrading / Rehabation of Rural Roads: Works - I,135,170187 47 2,593,088,382-91 3,73S,861,182.73 3,918,501,636 05 11,482,621,389.16 Upgrading / rehabilitation of Rural Roads- Consultancy - tGsHt on is 381,770,08456 110,15g,621 50 660,094,783.84 Upgrading / Rehabilitation of River- Crossings: works 405,175,245 2 384,288,028.SR 58,632,277 62 (130,242,199.37 717,853,312.09 Upgrading / Rehabilitation of River- Crossings: Consultancy 8,1966775 ... 8,219,66773 Total 1,716,731,178.24 3,077,376,411.49 4,176,263,544,91 3,898,418,056.18 12,868,789,192 82 5 Receivables Bal b/fwd 715,614,35000 428,343,26556 1,143,957,6156 Staff Advances 11 2ama40s 071 (12,879,408-07) Counterpart Fund 67,032,305.27 356,5000000o0 2,896,520,737.00 1614,596,012 23) 2,655,457,030.04 Sundry Debtors Total 67,032,305.27 343,620,591.93 2,895,520,7370 715,614,350.00 (236,252,746.67) 3,78G,535,237.53 6 Inventory I PAD 4,66501 ________ _______ 4,469,685M0 Total _______ 4,469,68S.00 _________ ________ 4,469,685.881 7 Fixed Deposit Opening Balance 700,000,000-00 700,000,000 00 18 Closing Balance 700,000,000.00 8 Payables WHI 31,197.118.S0 Z4,734,041UE 25,500,063.94 4,224,856.52 85,656,08004 VAT 16,179,96321 15 Mas, M 1o 12,948,075 18 109,582,423 81 154,495,814.30 Cueditars Local Accrual (Expenss) Others 802,782-20 826,783.88 1,629,566-08 Total 48,179,863.91 40,519,393,18 38,448,139.12 114,634,06421 241,781,468.42 is Э веиЕил{.епп�е(.т ли�лсемь:�т и,vп SЕСПNд КUR.i1.,it'LESS .liъ(д ,510д1Е1ТV AROF.i'1' (ПА1вР 2! NOTES TU TffE .(СГ(1lfYT9 FuR Гf[Е \'ЕаП FQR Т1{Е УЕдП ENDEд 715}' OF.I'FAl8F.И, 211I9 Н(1 АдИМАWА ENl16u N1GEA OSUN TOSAI Н И М Н Н И 9 иплг гевг дсттчlакед ги,ъдs ди)usf msпt. vr�orveaглcc�muraЭedsuгдiuslue&иъ 1наз.з38,ц5�5г1 lзsи,,ьч.ъпsьs! з.(ев.4г3,5{иэt i�пsг.эаз.ь9ь.4s! ри,згв,wlыа.гl} 11ч,цt,o78,ezs-as! 5игрl,л/(tnssllorгncrear 11a6,8aG.e72sa} lып.виа.аьz-sг! 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_.,_ ....._я,ааЭ,гSо,тоа.оо .. 1,93s,152,fi1Aгa 2,a84,795,9i4.a8 э,62а,зц,(08.а9 а,ьва,5lб,гег,2( 12 Саип1¢rpart Fundine 2о dale @а!@lгwд 6г,бэzJ45�п ыэ,vs,anw 214.8efi,SUaW ll5.Lb0,9бд00 аzв,еаз.2ьs.5ь 1,гz4,о9г.оrо.аз Frior Уеаг linreportad ' qF� Credut receipt �п да19 ......� �..__.._._ - � То(а1 fundlпg гл date s7.aэa,;os.n еаз,n5,обгг.оо z14,0в6,5ра.ац п5.ооо,(7ав.оо ааа,заэ,гьssь 1,г2э,озг,а7а.ез Э2 I Э I i Э t � � ! i FEDERALPROJECT MANAGEMENT UNIT SECONF) RURAL ACCESSAND NIOBILiTy PROE(7T(RANlP 2) NOTES,mTHE ACC:OUNTS FOR TIIIE YEAR FOR THE YEAR ENDED 31ST DECENIBER, 2011) HQ ADAMAWA ENUGU NIGER OWN TOTAL N N P4 N N N 13 Cash inflow Adjustment PricirYear Adjustment (16,059,073-61) 118,007,008-01 880,891,649.43 (4,180,399,39) (35,243,661-62) 943,415,522.82 Exchange TOTAL (16,059,073.61) 118,007,008.01 880,891,649,43 (4,180,399,39) (35,243,661.62) 943,415,S22.8Z 14 Miscelleneous Income: Interest Received from Dollar Bank Account 10,489,579-20 38,737,628-33 11,714,10831 181,849.31 61,123,164.61 Interest Received firom Niira Bank Account 4,487.52 1,564,562J9 157,SO 100.00 1,569,307.21 Sales Tender Document 4,S20,000-00 6,150,000.00 10,670,000.00 Sales from Consultancy Miscclieneous Receipt 11,500.00 1,579.99 9,136,252.65 9,149,33 ,64 Total Miscelleneous Income 11,500.00 15,014,065.72 46,453,770.51 11,714,Z66.27 9,318,201.96 82,511,804,46 33 FEDERALPROfECT MANAGEMENT UNIT SECOND RURAL ACCESS AND MOBILITY PROECT (RAMP 2) NOTES TO TILE ACCOUNTS FOR THE YEAR FOR TilE YEAR ENDED3iST DECEMBER, 2019 FEDERAL PROJECT MANAGEMENT UNIT ADAMAWA STATE RAMP 2 ENUGU STATE RAMP 2 $ N $ N $ N 15 CASH AND CASH EQUIVALENT: IDA Special Account (ISD) at year end per bank statement 45.473.1t 15,917,30350 9622473.07 3.3G7.flS.514.So 13,013,976.67 4,554,891,834.50 Special Account 244,331,553.65 Counter part fund (Naira) 197,846.28 188,398,293.45 412,397,145.32 IDA Draw-Down Account (Naira) 1,193,089.35 52.154.079-16 7,726,237.01 IDA Interest (Naira) Bank Account 3,50077 ,89400 120,405,915.00 IDA Interest (Dollar) Bank Account 242,795.47 12823-67 4,4EB,24.50 344,016.90 AFD Special Account (USD1 at year end per bank statement 542315.45 18%810,47.50 759,482.41 265,818,843.50 AFD Draw down Account s,nD,1ss.22 696,219,089.49 AFD Interest (Naira) Bank Account AFD Interest (Dollar) Bank Account 196302.76 68,705,966.00 171,786.51 60,125,278.50 Counter part fund (Naira) 31,014.86778 Drawdown Account TOTAL CASH AND CASH EQUIVALENT 45,478.01 17,554,535.37 10,373,914.95 4,000,245,533.11 14,289,262.49 6,361,915,896.97 NIGER STATE RAMP Z OSUN STATE RAMP 2 $ N $ N IDA Special Account (USD) at year end per bank statement 3,044,90643 .o65,7n1,zsu so 3,771.64 1.320.0740.U Counter part fund (Naira) 1,795,1i.m l,22G57 IDA Draw-Down Account (Naira) 51,1.17704 1,080,468.77 IDA Interest (Naira) Rank Account GG9Z7365 IDA Interest (Dollar) Bank Account 82,460.28 28,861,98 co AFD Special Account (USD) at year end per bank statement 537,724 31 s8,zosso8 so (2.86) (l,ool.oal AFD Special Account (USD) at year end per bank statement II (5,102,595.30) AFD Draw down Account 149.1s5.343 70 (3,159,932.821 AFD Interest (Naira) Bank Account Deposit Counter part fund (Naira) Drawdown Account AFD Interest (Dollar) Bank Account 70sun 2,481,360.00 TOTAL CASH AND CASH EQUIVALENT 3,589,720.34 1,456,697,865.81 86,229.06 25,462,996.70 FEDERAL PROJECT MANAGENIENT UNIT STATE SECOND RURAL ACCESS AND MOMILtTV PROJECT (RAMP 2) NOTES TO TIE ACCOUNTS FOR THE YEAR FOR THE YEAR ENDED 31ST DECENIBER, 2019 16a Property, Plant & Equipment Schedule FEDERAL PROJECT MANAGEMENT UNIT Plant & Motorcycle & Lab Working Motor Vehicles Furniture & Fittings Office Equipment Machinery Tricycle Equipments Tools Total (N) (N) (N) (N) (N) Cost As at Ist January. 2019 - 22,041,093.10 - - - - 22,041,093.10 Additions 41,999,820.00 - 12,322,700 00 - 54,322,520 00 Disposal - As at 3 Ist December, 2019 41,999820.00 -34,333,793.10- - - - 76,363,613.10 Depreciation As at I st January, 20 19 - 10,038,090.05 - - - - 10,038,090.05 Charge for the year 10,499,955.00 - 1,453,452 24 - - - - 21,953,40724 Disposal As at 31st December, 2019 10,499,955.00 - 21,491,542.29 - - - - 31,991497.29 Net Book value as at 31st December, 2019 31,499,865.00 - 12,872,250,81 - - - - 44,372,115.81 Net Book value as at 31st December, 2018 - 12,003,003.05 - - - - 12,003,003.05 % 25% 12.50% 33.33% 25% 25% 33.33% 50% 3) FEDERAL PROJECT MANAGEMENT UNIT STATE SECOND RURAL ACCESS AND NOIILITY PROJECT (RAMP 2) NOTES TO THIE ACCOUNTS FOR TH1E YEAR FOR TilIE YEAR ENDED31ST DECEMBER, 2019 16b Property, Plant & Equipment Schedule ADAMAWA STATE Motor Vehicles Furniture & Fittings Office Equipment Plant & Machinery Tri-Cycle Total (N) (N) (N) (N) (N) (N) Cost As at tst January, 2019 114,411,906,25 11,342,820U1 10,384,806.81 2,323,047.92 19,250,000.00 157,712,58[.19 Additions 2,372,341.13 2,372,341.13 Disposal As at 3 1st December, 2019 114,411,906.25 1 1 ,3 4 2 ,8 2 0 .2 1 12,757,1494 2,323,047.92 19,250,000.00 160,084,922.32 Depreciation As at Ist January, 2019 49,035,521.67 3,750,329.22 8,466,454 67 3,433,990,84 4,8 12,500,00 69,498,796.40 Charge for the year 28,602,976.56 1,417,852.53 4,251,957.41 - 4,812,500.00 39,085,28650 Disposal As at 31st December, 2019 77,638,498.23 5,168J1L75 12,718,412.08 3,433,990.84 9,625,000.00 108,584,082.90 Net Book value as at 31st December, 2019 36,773,408.02 6,174638.46 38,735.86 (1,110,94292) 9,625,000.00 51,500,839.42 Net Book value as at 31st December, 2018 65,376,384.58 7,592490.99 1,918,352,14 (1,110,942.92) 14,437,500.00 88,213,784.79 % 25% 12.50% 3333% 25% 25% 36 FEDERAL PROJECT MANAGEMENT UNIT STATE SECOND RURAL ACCESS AND MOBILITY PROJECT (RAMP 2) NOTES TO THE ACCOUNTS FOR THE YEAR FOR THE YEAR ENDED JST DECEMBER, 2019 16c Property, Plant & Equipment Schedule ENUGU STATE Furniture & Motor Vehicles Fittings Office Equipment Plant & Machinery Motor/Tricycle Total (N) (N) (N) (N) (N) (N) Cos As at Ist January, 2019 74,513,623.98 3,549,86392 21,394,177.76 4,674,799 17 - 104,132,46483 Additions - 3,893,550.00 - 10,489,314.80 14,382,864 80 Disposal As at 31st December, 2019 74,513,623.98 3,549,863.92 25,287,727.76 4,674,799.17 10,489,314.80 108,026,014.83 Depreciation As at I s s January, 2019 44,077,843,32 1,070,911.98 17,984,395.89 2,508,753.76 - 65,641,904.95 Charge for the year 18,628,406.00 443,73299 7,303,321.87 1,168,699.79 2,622,328,70 30.166,489.35 Disposal - As at 31st December, 2019 62,706,249.32 1,514,644.97 25,287,717.76 3,677,453.55 2,622,328.70 93,186,065.60 Net Book value as at 31st December, 2019 11,807,374.67 2,035,218.95 10.00 997,345.62 7,866,986.10 22,706,935.33 Net Book value as at 31st December, 2018 30,435,780.66 2,478,951 94 3,409,781 87 2,166,045.41 - 38,490,559.88 % 25% 12.50% 33.33% 25% 25% 37 FEDERAL PRO.JECT MANAGEMENT UNIT STATE SECOND RURAL ACCESS AND MOB[LITV PROJECT (RAMP 2) NOTES TO THE ACCOUNTS FOR THE YEAR FOR TIE YEAR ENDED 31ST DECEMBER, 2019 l6d Property, Plant & Equipment Schedule NIGER STATE Furniture & Plant & Motorcycle & Motor Vehicles Fittings Office Equipment Machinery Tricycle Lab Equipments Working Tools Total (N) (N) (N) (N) (N) (N) (N) (N) Cost As at Ist January, 2019 208,456,275 00 6,364,008.33 13,604,302 22 20,504,250,00 74,165,412.50 43,869,777 78 6,546,630.00 373,510,655,83 Additions 13,090,000.00 - 5,836,789 87 - - - 11,716,669.60 30,643,45947 Disposal As at 31s1 December. 2019 221,546,275.00 6,364,008.33 19,441,092.09 20,504,250.00 74,165,412,50 43,869,777.78 18,263,299.60 404,154,115,30 Depreciation As at [st January, 2019 92,529,075.00 2,947,050 00 9,065,625.55 19,413,000 00 40,817,418.75 43,869,767 78 6,546,620 00 215,188,557 08 Charge for the year 55,386,568.75 795,501.04 6,479,715 99 1,091,240,00 18,541,353 13 9,131,649.80 91,426,028.71 Disposal - As at 31st December, 2019 147,915,643.75 3,742,551.04 15,545,341.54 20,504,240.00 59,358,771.88 43,869,767.78 15,678,269.80 306,614,585.79 Net Book value as at 31st December, 2019 73,630,631.25 2,621,457.29 3,895,750.55 10. 00 14,806,640.63 10.00 2,585,029.80 97,539,529.51 Net Book value as at 31st December, 2018 115,927,200.00 3,416,958.33 4,538,676.67 1,091,250.00 33.347,993.75 10. 10.00 158,322,098.75 y 25% /2-50% 33.33% 25% 25% 33,33% jWX 38 FE DERAI PROJECT NIANAGEMIENi UNIT STATE SECOIND RURAL CCESS AND MOBILITV PROJECT (RAMP 2) NOTESTOT{E1ACCOGNTS FORTHEYEAR FORTHE YEAR ENDED3ST DECEMIER,2019 16e Property, Plant & Equipnnt Sehedule OSUN STATE Furniture& Office Plant& Motor Cycle& Land Building Motor Vehicles Fittings Equipment Machinery Tricycle Working Tools Road Sign Talal (N) (N) (N) (N) (N) (N) (N) Cost As at liJwamry, 2019 53,100,00000 51.559,5I5.91 283,15636! 58 16,924,38292 11,14173889 14,423,565.73 20.428,84094 7,86,81250 9,374,222.22 467,995.940.69 AddiaLons 1,211,350.00 225.500 00 1466.850.00 Disposal As at 3 st Deceber. 2019 53,108,000.00 51,559,515.91 283,156,86 1.58 18,165,732.92 1 367,238.89 14,423,565.73 20,421,84W94 2,886,812.50 9,374222.22 469,462,790 69 Depreciation As at l s Janoay, 2119 - 4,260,555.80 131,656,754 25 6,681,886 88 11,141,728 89 4,730,458.60 15,311,321 25 7,886.802 50 9,374,12 22 ' 104],70 39 Charge for te ycar - 1,288,987 90 70,789,215 40 2,270,716.62 75,159 15 3,605,891.4] 5,107,21024 - - 83,137,180.73 D isposal As at 31st Decenber, 20 19 5,549,543.70 202,445,969.65 8,952,603.50 11,216,888.,i4 B,336,350.03 20,418,531.49 7,886,802.50 9,374,212,22 274,180,901.12 Net Book value as at 31st December, 2019 53,100,000.00 46,009,972.21 80,710,891.94 9,213,129.43 150,350.85 6,087,215.70 10,309.46 100.0 10.00 195,281,889.57 Net Book value as at 31st December, 2018 53,100,000 00 47,298,960 Il 151,500,10733 10,242,496.04 10,00 9,693,107.13 5,117,519 69 1000 In00 276,952,220.30 % 0% 2.5% 25%, 12.50% 33.33% 25% 25% 50% 50% 39