Bayelsa records N1b IGR in August

Bayelsa State Deputy Governor Rear Admiral John Jonah yesterday said the state recorded N1 billion Internally-Generated Revenue (IGR) in September.

He said N4.4 billion was available to the state at the end of September.

Jonah spoke while presenting the income and expenditure for August and September in the Government House, Yenagoa.

He explained that the N4.4 billion consisted of N3 billion balance brought forward from August and N1 billion balance at the end of September.

He said 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.

Jonah said FAAC deductions took 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.

He,  however, 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.

The deputy governor also explained that the total amount for outflows came up to N6.6 billion, consisting of contractual guarantees of N2.8 billion, salaries for civil servants, N2.8 billion while that of political appointees stood at N472 million.

Other components of outflows include salary grants to tertiary institutions, amounting to N630 million while 10% contribution to payment of primary school teachers was N47 million.

Rear Admiral John Jonah also pointed out that recurrent expenditure stood at N3 billion while N3 billion was used for capital payment

For the month of August, he said Gross inflow was N13.6bn, total FAAC deductions N1.6bn, bringing the net inflow to N12bn while total expenditure for the month came up to N6bn.

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

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