The Bayelsa State Government has declared N 7 bn as a total balance in the state ’s account after loan deductions , salary payment and recurrent expenditures.
The Deputy Governor of the state , Rear Admiral Gboribiogha Jonah (retd . ), stated this on Thursday while briefing journalists during the monthly transparency status of the state ’s revenues.
Jonah said the Federal Government ’s economic strategy had impacted positively on states leading to improved funding for recurrent and capital spendings.
He said though the state government was still worried about the level of the state ’ s Internally Generated Revenue, the improved economic policies of the Federal Government impacted positively on states.
The deputy governor declared that a total balance in Bayelsa State account was N 7 ,079 ,454 ,439 after loan deductions , salary payment and recurrent expenditure .
Jonah said , “ Though we are dependent on oil sales controlled by the Federal Government , things are improving . Figures don ’t lie .
“ I would have liked to see the Internally Generated Revenue improve for the state . I am not happy about the IGR. The state ’s IGR is fluctuating between N600 m 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 finances for February, the deputy governor said the gross inflow during the month under review was N10. 5bn with a total of N 1. 4 bn deduction from Federal Accounts Allocation Committee on bonds, loans and bail out for the state .
Jonah further explained that a balance of N 6 .9 bn was brought forward from January and added to the February balance of N4 .3 bn .
According to him , the payment made on recurrent was N 2 bn and capital payment of N 2 bn, bringing the total balance to N 7bn .
Punch
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