Fidelity bank banner Camano 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: 465

•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...
Lagos offers 15 per cent discount on land...

Dogara hails Buhari over release of 82 Chibok...

Troops vanquish many insurgents, recover 147 stolen livestock...

Resource control: We won’t shift ground —Northern Confab...

All set for Ooni Ogunwusi’s TellAfrica International Art...

Senate invites Amaechi over abandonment of eastern railway...

17 Customs officers dismissed for drug addiction, certificate...

Team Nigeria to depart for IAAF World Championships...

Akwa Ibom Govt. warns contractors against poor quality...

Dangote trains South East block makers on proper...

FG moves to check student unrest on campuses...

Court reverses dismissal of UNILORIN ASUU chair, secretary...

 

Latest News Mike Ezuruonye speaks to the youth My own Xmas don start Manchester United sack Mourinho BREAKING: Police barricade National Assembly entrance Buhari no longer in charge — Secondus •Declares 2019 year of liberation for Nigeria 9 soldiers face court martial over indiscipline Travel ban: FG submits names of 39 alleged treasury looters to Immigration Pandemonium in Ekiti as lunatic chases teachers, pupils with stones 2019: Tinubu eyes 3m votes for Buhari in Lagos Police ban pasting of campaign posters at night EFCC arraigns fake prophet, doctor for alleged N2.4m fraud How oil companies evade taxes, royalties in Nigeria

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (431,229 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (395,617 views) Shameless Genevieve Nnaji exposes breasts in public (328,478 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (282,764 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (248,487 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,566 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (212,574 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,797 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (180,294 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,829 views) Lagos plane crash: Journalist releases victims’ names (167,628 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (154,056 views)

 

CBN banner Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (76) Business & Economy (3,889) Business Verdict (54) Columnists (974) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (681) Global Business Monitor (313) International (2,842) Interview (167) Live Commentary (28) Love Matters (147) Maggie's Blog (76) News (41,546) Opinion (1,154) Pidgin (13) Politics (8,225) Religion (920) Sports (1,828) 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