The Bayelsa State Government has expressed willingness towards a continued infrastructure and sectoral development of the state under the leadership of the Senator Douye Diri led ‘Prosperity ASSURED’ administration.
Speaking to newsmen Friday in Yenagoa, the state capital during the October–December 2024 monthly transparency briefing, State Commissioner for Information, Strategy and Orientation, Mrs Ebiowou Koku-Obiyai said the exercise became imperative as Government was ready to update the citizenry on the income and expenditures of the state.
She noted that all ongoing projects under the Governor Diri-led administration would be completed, urging citizens of the state to see and appreciated efforts the Government was making in the provision of critical infrastructure projects and sectoral development in all spheres of the state.
She said: “Transparency briefing, so far so good is all about reporting back to the citizens of the state the income and expenditures of the Government under the watch of our Dear Governor, the distinguished Senator Douye Diri
“As a Government we’ve a direction and if you watch closely you’ll better understand where the Government is going. We’ve earmarked critical projects to execute and key among these projects is the nine storey, new State Secretariat complex which would make workers more productive and their jobs more worthwhile.
“We’ve issues with power, and very soon we’ll also have our own independent power plant so as to solve the problem of incessant power blackout in the state”.
Rendering stewardship of financial accruals to the State for the three months of October, November and December 2024, State Commissioner for Finance, Mr Maxwell Ebibai gave details of the receipt and expenditures as follows:
October: Statutory allocation – 509m, Derivation -8.335m, VAT -5.291b, exchange rate gains -11.28b, non-oil revenue -905m, electronic transfer levy -175m, while total gross inflow from the Federation account allocation committee(FAAC) for the month, according to the Commissioner amounted to 26.514b, just as he said FAAC deductions gulped 1.735b.
He noted that, total net inflow after FAAC deductions stood at 24.779b, while other receipts were 86.431b, making sum total of receipt in the month 101.2b, with outflows gulping a total 16.971b.
Ebibai also declared net balance upon the outflows as 94.238b, noting that actual recurrent payment took 5.284b, capital expenditure according to him totalled 38.355b, the sum total of both capital and recurrent expenses made in the month amounted to 43.64b, as balance after capital and recurrent expenditures stood at 50.598b.
The Finance Commissioner further stated that total balance carried from September to October was 135.446b, while balance at the close of November was 186.44b respectively.
In November, according to the Finance Ministry, gross receipt from FAAC was 37.982,141,546b, while deductions at FAAC gulped 1.734b, leaving balance after FAAC deductions at 36.247,717,577b.
Other receipts for the month of November, including Internally generated revenue (IGR) was 39.254,383b, cumulative receipt from FAAC and other receipts for the month stood at 75.5b, while total outflows in November, was 24.275b, balance before capital and recurrent expenses stood at 51.226b, the balance after capital and recurrent expenses was 8.302b, while actual capital expenditure gulped 35.8b, actual recurrent expenditure took 7.1b, making the sum total of capital and recurrent expenses 42.9b.
The Commissioner said: “Balance brought forward from October was 186.44b, total balance as at the end of November was 194.346b. Balance at the end of December receipts and expenditures ended in the negative.
“Gross receipts from FAAC in the month stood at 52.269b, statutory deductions was 1.783b, revenue from IGR and other sources totalled 35.990b, while sum total of receipts in the month amounted to 86.476b.
“Outflows gulped 17.543b, balance from FAAC and other receipts before capital and recurrent expenses was 68.932b, while actual capital expenditure took 62.8b, recurrent expenditure gulped 6.889b, bringing total expenditure for the month of December to a total 69.7b, leaving a negative balance of 773m.
“Balance brought forward from November was 194.3b, total balance as at January 2025 is 193.573b”.
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