GTB 737 banner Yudala banner

Bayelsa posts N4b net balance for March as internally generated revenue soars

By News Express on 19/05/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 201

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

The Bayelsa State Government on Thursday posted a total of four billion naira as net balance for the month of March 2017, saying it recorded some improvement in its internally generated revenue (IGR) in the preceding month.

Briefing newsmen on the income and expenditure profile of the state in Government House, Yenagoa, the Deputy Governor, Rear Admiral Gboribiogha John Jonah (Rtd.), said the state raked in an IGR of N983 million in February, as against N683 million in the month of January, 2017.

The Deputy Governor, who announced a gross inflow of N11 billion from the Federal Accounts Allocation Committee (FAAC) for March, explained that only N9.5 billion accrued as net inflow following the deduction of N1.5 billion at source.

Components of the gross inflow, according to him, included 13% derivation of N4.9 billion, statutory allocation N1.4 billion, petroleum profit tax (PPT) N1.8 billion, exchange differential and budget support of N1 billion each while value added tax (VAT) stood at N619 billion.

On FAAC deductions, Rear Admiral John Jonah said N741 million was deducted as restructured commercial bank loan repayment, 147 million as refund to Akwa Ibom and Imo states for previous overpayments, bond deductions N429 million, repayment of excess crude facility N126 million, commercial agriculture credit scheme two N66.6 million and foreign loan repayment N26 million.

Commenting on the expenditures for March totalling N6.2 billion, the deputy governor noted that government spent N3.7 billion on salaries for both civil servants and political appointees, bank loan repayment N1.6 billion, while 612million went as transfer to Local Government councils on account of the Paris Club Refund among other items.

He added that balance brought forward from the month of February stood at N7 billion with actual recurrent and capital payments gulping a total of N7.2 billion thereby leaving a negative balance of N106 million, which was taken care of by a N4.2 billion FAAC surplus that accrued to the state within the accounting period.

Earlier in his remarks, the Commissioner for Information and Orientation, Hon. Jonathan Obuebite restated the present administration’s commitment to its policy of transparency and accountability, and assured that the state resources would be judiciously utilised to pursue the common good of the people.

Source News Express

Posted 19/05/2017 12:07:46 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
APC suspends Senator Shehu Sani for criticising Governor...

Troops clear 9 Boko Haram strongholds in fresh...

Rivers terminates contracts of 10 service providers for...

Lagos apprehends woman using infant twins to beg...

Jonathan’s aides, Senator Paulkner face probe over anti-party...

Fleeing Boko Haram fighters meet waterloo •Victorious troops...

Ebonyi Governor pledges to pay June, July salaries...

3 suspected pipeline vandals land in police net...

Governor, 30,000 others omitted in October salary payment...

Jonathan clears the air on alleged pledge not...

Release Nnamdi Kanu, The Man of the Year...

Buhari inaugurates special committee on corruption and terrorism...

 

Latest News Nigeria, London and globalisation, By Emmanuel Onwubiko Northern Governors are lazy: Sultan of Sokoto Man goes on trial in America, slammed with 21-count charge over $4bn Bitcoin fraud NUPENG threatens strike over dispute with AMCON Osinbajo disappoints Rivers APC, commissions Wike’s projects Bill Gates regains title as world’s richest person 8 hours after losing it Aisha Buhari identifies obstacle to Vision 2030, SDGs Google to train 10 million Africans in online skills Court rules July 31 in case of lynched Aluu 4 UNIPORT students Senate halts planned concession of Port Harcourt Refinery Delta Govt. moves to tackle flood menace Echoes of Ezu River Police Massacre: How to end torture and extra-judicial killings in Nigeria (Part 3)

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (267,218 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (248,059 views) Shameless Genevieve Nnaji exposes breasts in public (202,004 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (172,778 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (169,803 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (151,524 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (131,112 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (123,719 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (115,549 views) Lagos plane crash: Journalist releases victims’ names (107,578 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (107,239 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (99,851 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,640) Business Verdict (18) Columnists (717) Complaints & Requests (92) Enterprise & Opportunities (167) Entertainment (345) Features (473) Global Business Monitor (167) International (1,467) Interviews (126) Live Commentary (28) Love Matters (64) News (26,877) Opinion (761) Pidgin (8) Politics (3,824) Religion (582) Sports (1,288) Stock Watch (20) AMA & Al Jazeera Global Update

 

CBN words on marble advert

 

 

Senator Adeleke on the dancing steps in London

 

APO Newsbreak logo

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!