Fidelity bank banner Bayelsa State banner
Bayelsa renegotiates bond; to end repayment in 2019 •Declares N6.7b balance from Jan. 2017

By News Express on 03/03/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 867

•Bayelsa Deputy Governor John Jonah.
•Bayelsa Deputy Governor John Jonah.

The Bayelsa State Government says it will complete the repayment of the N50 billion bond loan inherited from the previous administration in 2019, following the successful renegotiation of the facility.

The Deputy Governor, Rear Admiral Gboribiogha John Jonah (Rtd.), stated this at the monthly transparency briefing for the month of January 2017 on Thursday in Yenagoa.

Rear Admiral John Jonah said that based on the restructuring, the amount paid monthly had been reduced from N1.24 billion to N422 million, in view of the economic downturn.

The Deputy Governor also announced that, the state government had concluded payment on scheme 1 of the Commercial Agricultural loan, while it paid the usual N66.7 million for the scheme 2.

Speaking further on the Federation Accounts Allocation Committee deductions, he explained that, N1.4 billion was the total amount deducted at source, which include, excess crude account facility  of N127 million, restructured commercial bank loans of N741 million and foreign loans N30 million.

Rear Admiral John Jonah, who announced N7.8 billion as net inflow from FAAC, said the state government received internally generated revenue of N863 million for the month of December, 2016.

According to him, total funds available for spending in January, amounted to N11.7 billion due to the N3 billion the state government secured from a financial institution as lease for the purchase of vehicles for state legislators and the security outfit.

On expenditure, the Deputy Governor noted that, the total amount expended was N5.7 billion, comprising civil servants salaries of N3.7 billion, political appointees salaries N256 million, bank loans N1.6 billion, capital payments N10 billion, while actual recurrent payments stood at N1.9 billion, leaving a balance of N6.9 billion.

In his remarks, the Commissioner for Information and Orientation, Hon. Jonathan Obuebite, said the transparency policy of the present administration would be further strengthened, with the collaboration of the Independent Corrupt Practices and other Related Offences Commission.

Responding to questions, the Special Adviser on Treasury, Revenue and Accounts, Mr. Timipre Seipulo, described the internally generated revenue for December 2016 as encouraging, adding that, the government expects to achieve its target of N1.2 billion soon.

Source News Express

Posted 03/03/2017 12:32:29 AM


Share on facebook Yahoo mail icon Gmail icon Share on Google+



REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...


You may also like...
Fidelity Bank discusses digital revolution at 2018 Social...

Oshiomhole, Oyegun test might over Edo APC governorship...

NiMet predicts rainy, cloudy weather conditions for today...

Boko Haram: Nigerian military laments distraction

Senate amends Electoral Act, adopts new sequence of...

Ikeja Electric announces one-month power interruption

Oyo Governorship Tribunal commences sitting, warns against frivolous...

996 functional PHCs provide routine immunisation in Kaduna:...

Boko Haram gives condition to release Chibok girls...

Insecurity: Peace group ends Plateau tour, thumbs up...

Ohanaeze not doing enough for Nnamdi Kanu, other...

NDLEA seizes 683kg of illicit drugs in 5...


Latest News We will stop ISIS from using Nigeria as training ground- FG Bayelsa indigenes flee homes over fear of military invasion Anambra Special Anti-Cultism Squad nabs armed robbers FG okays 94 cattle ranches in 10 states Nigeria to host 28 African countries to tackle insecurity Generator fumes kill mother and 5 children; father in coma Amaechi: Western Corridor Rail Line to be completed in 36 months Wealth of the world’s millionaires and billionaires grows to more than $70 trillion for first time ever Floods wreak havoc in Ghana, renders hundreds homeless General Electric booted out from Dow Jones for the first time in 110 years Truck falls off Lagos bridge, crushes buses, car US quits UN Human Rights Council over alleged bias against Israel


Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (352,056 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (351,291 views) Shameless Genevieve Nnaji exposes breasts in public (279,986 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (229,909 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (208,945 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (208,547 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (181,670 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (163,744 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (153,820 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (148,446 views) Lagos plane crash: Journalist releases victims’ names (143,733 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,579 views)


Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,255) Business Verdict (44) Columnists (868) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (505) Features (607) Global Business Monitor (283) International (2,040) Interview (154) Live Commentary (28) Love Matters (123) News (36,334) Opinion (1,003) Pidgin (10) Politics (5,283) Religion (770) Sports (1,551) Stock Watch (30) AMA & Al Jazeera Global Update


CBN banner

Firstmobile banner




Portugal v Spain 2018


APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera