…declares N7bn balance for February
By Samuel Oyadongha
YENAGOA—BAYELSA State Government, yesterday said the new economic strategy put in place by the President Muhammadu Buhari-led Federal Government was impacting positively on states with improved funding for recurrent and capital spending.
The government spoke through the Deputy Governor, Rear Admiral Gboribiogha John-Jonah (retd), in Yenagoa while briefing the media on Monthly Transparency Status of state fund.
He said though the state government was still worried about the level of the state Internally Generated Revenue, IGR, the improved economic policy of the Federal Government was impacting positively on states.
The deputy governor declared that a total balance in Bayelsa State account was N7,079,454,439 after loan deductions, salary payment and recurrent expenditure.
He said: “Though we are dependent on the oil sales controlled by the Federal Government, things are improving. Figures do not lie. I would have loved to see the Internally Generated Revenue improved for the state. I am not happy about the IGR. The state’s IGR is fluctuating around N600 million monthly. It is not enough. We expect taxable companies and persons to declare what they earn and pay the required taxes.
“ Giving a breakdown of the state’s finances for the month of February, he said the Gross In flow during the month under review was N10,554,336 with a total of 1.4 billion deduction from FAAC on bonds, loans and bail out for the state.
The deputy governor added that a balance of N6.9billion was brought forward from January and added to the February balance of N4.3billion.
According to him, the payment made on recurrent was N2billion and capital payment of N2billion bringing the remaining balance to N7,079,454,439.