Bayelsa posts N4bn as balance of funds for September, declares N1bn IGR


The Bayelsa Deputy Governor, Rear Admiral Gboribiogha John Jonah (rtd) on Tuesday declared N4.4 billion as balance of funds available to the state as at September 30, 2018.

John-Jonah announced this while presenting the income and expenditure financial statements for the months of August and September in Government House, Yenagoa, in line with the administration’s accountability and transparency policy.

He explained that the amount consisted of N3 billion balance brought forward from the month of August and N1 billion balance of funds at the end of September.

According to him, gross inflow from the Federation Account Allocation Committee (FAAC) for last month, stood at N14 billion, comprising 13 per cent derivation of N10.7 billion, statutory allocation N3 billion and Value Added Tax of N1 billion.

He said that total FAAC deductions gulped N1.6 billion, including restructured commercial bank loans (N741 million); bond obligation (N421 million), restructured refund of overpayment (N128 million) and Excess Crude Account facility of N126 million.

John-Jonah noted that total receipts for September stood at N14 billion, comprising net FAAC inflow of N12.8 billion, IGR for August N1 billion, funds from other sources, N400 million.

He also explained that the total outflows stood at N6.6 billion consisting of contractual guarantees of N2.8 billion, civil servants’ salaries (N2.8 billion) and while that of political appointees stood at N472 million.

He listed other components of the outflows to include, salary grants to tertiary institutions amounting to N630 million while 10 per cent contribution to payment of primary school teachers was N47 million.

The deputy governor also noted that recurrent expenditure and capital payments each stood at three billion naira.

For the month of August, he said Gross inflow was N13.6 billion, total FAAC deductions N1.6 billion, bringing the net inflow to N12 billion while total expenditure for the month stood at N6 billion.

Earlier, the Commissioner for Information and Orientation, Daniel Iworiso-Markson, said the transparency and accountability policy had earned the state so much respect and honour both within and outside

Iworiso-Markson also commended Gov. Seriake Dickson for providing responsive and purposeful leadership, adding that the achievements of the present administration would remain an enduring legacy for posterity.


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