By Samuel Oyadongha

Bayelsa State Government has declared a deficit of N889 million for the month of June, 2016, out of a net inflow of N4.4 billion from the Federation Accounts.

Presenting the income and expenditure profile of the state in Yenagoa, yesterday, the deputy governor, Rear Admiral Gboribiogha John-Jonah (retd), said that the state received the sum of N6.8 billion as gross inflow for the month under review.

The amount, according to him, includes, statutory allocation of N1.3 billion, derivation N3 billion, Value Added Tax N575, exchange differential of N62 million, ESCROW Account N230 million, refund from Rivers State N57 million, while budget support, which is a Federal Government loan to states, stood at N1.4 billion.

On FAAC deductions totalling N2.3 billion, the deputy governor noted that bond deduction gulped N1.2 billion, foreign loans N21 million, commercial agricultural loan schemes, 1 and 11 came to N102 million, re-structured loan facility N741 million, salary bailout N16 million and Excess Crude Account loan facility N126 million.

Jonah said that there was an improvement in the Internally Generated Revenue for May, which is N719 million, a difference of about N202 million as the state recorded an IGR of N517 million in the previous month.

He announced a total outflow of N2.9 billion, comprising bank loans repayment of N1.2 billion, civil servants salary N1.5 billion, political appointees N120 million, adding that actual recurrent payments stood at N1.1 billion, while that of capital payments for the month was N2.04 billion.

Jonah, who threw some insight into the state of the model boarding secondary schools being introduced by the state government, explained that efforts were ongoing, to ensure their take-off within the year.