Bayelsa State Govt. Presents May, June, July, 2024 Transparency Briefing
Amgbare Ekaunkumo, Yenagoa, by Trek Africa Newspaper
Government of Bayelsa State has presented the income and expenditure profile for May, June and July, 2024 during the Transparency briefing at the State Treasury Building, Yenagoa.
The Commissioner for Information, Orientation and Strategy, Hon.Obiyouwo Kokou Obiyan in her opening remarks commended journalists for the positive reportage of the programmes and policies of the State Government.
She described the media as the mirror of the society and promised to work with news men in the state to ensure continuous flow of stream of news and information to propagate the activities of Bayelsa State Government.
Giving the break down of the income and expenditure profile, the Technical Adviser to Governor Douye Diri on Treasury,vAccount and Revenue, Mr. Timipere Seipulo stated that the gross inflow for the month of May, 2024 was 31.05bn which comprise statutory allocation of 1.3bn, derivation 13.479bn, value added tax 5.19bn and total deductions from Federation Account Allocation Committee made up of restructured commercial bank loans of 741 million naira, foreign loans to states from federal government recovery 216 million naira, restructured over payment of 13% derivation indices 128 million naira among other payments.
The Technical Adviser informed that the net income receipt of 29.643bn, receipt from internally generated revenue for April stood at 2.215bn while infrastructural signature bonus amounted to 28bn, transfer from ecological fund 101 million naira with other total receipts amounting to 30.457bn leaving a net FAAC receipt of 60.1bn
Mr. Seipulo announced a total payment of a total payment of 14.79bn comprising 6.18bn of bank loans repayment,civil servants salaries 4.97bn and political appointees gulped 405 million naira.
Other payments Mr. Seipulo listed include grants to Tertiary Institutions 1.10bn leaving a balance of 45.19 bn. He said the state spent 4.92bn for recurrent expenditure while payment for capital projects took a chunk of 26.867bn which brought the total amount to 31.78bn.
The Technical Adviser giving a further break down informed that after recurrent and capital payments, the state had a balance of 13.515bn in addition to 81.1bn balance brought forward from April with a closing 94.615 bn.
For June, Mr.Seipulo said the gross inflow came to 26.694bn made up of statutory allocation of 722 million naira, derivation 7.76bn, value added tax 5.26bn, exchange rate gain 13.2bn, FAAC deductions 1.489bn including foreign exchange loans from federal government to states deductions gulped 216 million, excess crude account facility to states 82.68 million among other items which accounted for a net FAAC receipt of 25.204bn
According to him internally generated revenue from May was 2.28bn, funds from other sources 19.45bn, transfer from ecological fund 93 million naira that brought the total receipts to 21.82bn with a balance of 47.29bn.
The Technical Adviser noted that total payments before capital and recurrent expenditure chalked up 15.09bn which consist of bank loans payment of 6.4bn, salary related items 8bn.
He itemised transfer of ecological funds to NDDC 46 million naira which left a balance of 32.86bn while 4.15bn was expended on recurrent expenditure, capital payments gulped 16.795bn.
Mr. Seipulo stated that 11.14bn balance in addition to 94.6bn brought forward from May left the state with a closing balance of 105.7 bn for June 2024.
For July, Mr.Seipulo said the grsos inflow came to 26bn, statutory allocation 571 million, derivation 9 billion, exchange gain 10.3billion, non oil revenue 1.24 billion, electronic money transfer levy 148 million.
Seipulo said deduction for July was 1bn, restructure thirteen percentage derivation payment 128 million, commercial agriculture credit scheme 199 million.
According to the technical adviser, the internally generated revenue for July came to 2.6 bn and signature bonuses 24.9 billion.
He announced a closing balance of N 112.2 billion for the month of July, 2024 , adding that the money is locked down for big signature projects.
Seipulo mentioned the ongoing Nembe/Brass, Yenagoa/Oporoma, Akaba/Okodi and Glory Drive III roads, New Yenagoa City project, New House of Assembly Quarters and New Commissioners Quarters as some of the key projects of the Prosperity Government.
