Fidelity bank banner UBA banner
Bayelsa Government raises alarm as allocation shrinks by N700m

By News Express on 16/05/2018

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

Views: 443

•Seriake Dickson
•Seriake Dickson

Deputy Governor, Rear Admiral Gboribiogha John Jonah (Rtd) has warned that Bayelsa must urgently do something to avoid sliding into insolvency, adding that without reforms, Bayelsa stands the risk of becoming a failed state.

Jonh made the assertion while presenting the income and expenditure profile of the state for the month of April 2018, in Yenagoa.

The Deputy Governor decried the drastic reduction of federal allocation to the states in recent times, in spite of the improvement in all the critical indicators in the oil industry.

Jonah, who noted that Bayelsa’s allocation from the federation account reduced by over N700 million in the month of March, observed that, accruals to the federation account in recent times had defied predictions.

“Funding is a very difficult thing in this country now. Recall that between March and April this year, our income reduced by over N700 million and it is still threatening.

“And the strange thing about this reduction at the federal level is that the accruals to the federation account has defied all mathematical predictions. You can no longer calculate it sitting down here.

“Ordinarily, we should expect that if oil price and production increase with the naira devalued, there is no justification why we should not have sufficient money to pay salaries.

“All the indicators are improving but the money coming to us is decreasing. “That is why state governors have been insisting that they should be part of those calculating the money,” Jonah said.

According to the Deputy Governor, Bayelsa's Gross FAAC inflow stood at N14.5 billion, comprising a statutory allocation of N2.6 billion, derivation, N9.2 billion, Excess Bank charges N1.8 billion, Value Added Tax N741 million and refund from other states N57 million.

He announced total FAAC deductions of N1.6 billion,  which include, bond loan deduction of N421 million, restructured commercial bank loan N741 million, Excess Crude Account facility to states N126 million, refund of overpayments to the states N128 million, bringing the net inflow to N12.9 billion.

Jonah, who declared N1.2 billion for the Month of March as internally generated revenue, explained that the state government expended a total of N6.2 billion on salaries, contractual guarantees, subvention to tertiary institutions and ten percent contribution to payment of primary school teachers.

He also said recurrent payment gulped N2.7 billion, while capital expenditure was N6.6 billion, adding that, the state government was left with a balance of N7.6 billion as at the end of April 2018.

Earlier in his remarks, the Commissioner for Information, Mr. Daniel Iworiso Markson, emphasised the need for the public, particularly media practitioners to partner with government in driving the reform agenda in the public sector.

While reaffirming the administration's determination to sanitise the system with fairness, he assured that government would provide succour to those, who would be affected by the exercise.

“I can’t imagine that we are still doing N4 billion in terms of monthly salaries in Bayelsa. We are even doing much more in terms of our wage bill. That is not sustainable so we need everybody’s hand to be on deck to clean up the payroll.

“It’s better we swallow the bitter pill today so that we safeguard the future of our children and the ones yet unborn. I believe very strongly most Bayelsans who are in the public service can do better outside the service as entrepreneurs,” Iworiso-Markson said.

Source News Express

Posted 16/05/2018 12:21:08 PM

 

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


 

CLASSIFIED ADS

 

You may also like...
We didn’t give fresh conditions to end strike...

Blow for South African banks as Moody’s lowers...

Eviction order: Five Shell officials to appear in...

Arewa youths to review Igbo quit notice

Fitch casts fresh vote of confidence for Nigerian...

N43 billion Fuel Subsidy Scam: Police tighten noose...

70-year-old man stoned to death in Kano

Democracy Day: FG declares May 30 public holiday...

Jonathan tasks security agencies over anti-Igbo song •Condemns...

Buhari tasks lawyers as NBA Annual General Conference...

Governor Abubakar dismisses purported threat to Bauchi lawmaker’s...

21 Police AIGs retired

 

Latest News Boko Haram kills Army Commander, several soldiers We won’t substitute Ganduje over bribe allegation — APC •Explains source of ‘bribes’ Osun PDP members sue Adeleke over fake certificate Man charged with sex crimes involving 300 boys INEC removes names of 1,931 persons from Kaduna voters’ register Fayemi reinstates five Perm Secs sacked by Fayose, to get salary arrears Gunmen kidnap 20 students from Cameroonian school Anambra lawmakers to IGP: Caution the State Command over sealing of Assembly Complex 2019: Atiku doesn’t have second term hidden agenda — Campaign Strategist 8th Senate worst in attendance: Ndume Gov Abubakar imposes 12-hour curfew on five Bauchi communities Army flushes out criminals in Northwest

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (422,664 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (390,772 views) Shameless Genevieve Nnaji exposes breasts in public (323,856 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (272,551 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (244,814 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (227,806 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (209,585 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (191,128 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (176,472 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (168,898 views) Lagos plane crash: Journalist releases victims’ names (165,473 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (152,308 views)

 

Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (74) Business & Economy (3,803) Business Verdict (54) Columnists (964) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (568) Features (670) Global Business Monitor (311) International (2,707) Interview (167) Live Commentary (28) Love Matters (146) Maggie's Blog (38) News (40,698) Opinion (1,145) Pidgin (13) Politics (7,819) Religion (903) Sports (1,780) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera