Bayelsa Govt Declares N4.5bn Balance From December, 2014 At Transparency Briefing
Bayelsa State Government on Wednesday declared a total of N4.3bn as the balance of funds available for spending as at the end of December 2014.
The state Deputy Governor, Rear Admiral Gboribiogha John Jonah (Rtd), who made the disclosure at the monthly transparency media briefing in Yenagoa, presented the state income and expenditure for the months of November and December, 2014.
Giving a breakdown of the inflow from the Federation Accounts Allocation Committee, FAAC, he explained that the balance of funds, include receipts for subsidy re-investment programme, SURE-P.
According to the Deputy Governor, gross inflow to the state was approximately N14bn out of which N2.2bn was deducted at source, leaving the state with a net inflow of N12bn.
The breakdown indicates that, Internally generated revenue receipts for November stood at N630 million, funds from other sources totaled N4bn and ecological funds accounted for N2bn.
Rear Admiral John Jonah said, the gross inflow comprises statutory allocation of N2.3bn, derivation N7.4bn, SURE-P N1bn, Excess Crude of N1.08bn as well as NNPC refunds amounting to N1.6bn among other items.
On FAAC deductions, he noted that, the State's pending bond repayment gulped N1.2bn, commercial agriculturalscheme N266 million, fertilizer for 2015 farming season N2 million, foreign loans N12 million, refunds of arrears on derivation to Akwa Ibom State N131 million, which was the 16 th out of 24th installments.
Giving the statistics on the expenditure for the month of December, 2014, the Deputy Governor disclosed that, bank loan repayment was N7bn, Federal Inland Revenue service, N90 million, overhead payments N909 million, Civil servants salaries N4bn, while that of political appointees was put at N425 million.
Explaining further, he stated that, the payments, which totaled N4.05 billion, include recurrent payments, which gulped N3.6bn, while that of capital was put at N445 million.
For the month of November, the Deputy Governor declared N13.5bn as total funds available for use, which comprises net inflow from FAAC and revenue from other sources.
He said the state received N2.6bn as statutory allocation, derivation of N8.5bn, funds from EFCC N262 million, other sources generated N1.2bn, while IGR for October stood at N708, which was higher than that of November.
On outflows, bank loans gulped N6.09 million, civil servants salaries N3.9 billion, political
Appointees N437 million, 18% minimum wage arrears gulped N125 million, monthly overhead N877 million and standing approval of N242 million.
Rear Admiral John Jonah, who posted a total of N2.01bn, as balance of funds available for November, puts therecurrent payments at N1.3 billion, with N423 million as capital payments.
Daniel Iworiso-Markson
Chief Press Secretary to the Governor of Bayelsa State
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