Bayelsa posts N1.2bn IGR for March

The Bayelsa State Government has announced N1.2bn as its Internally-Generated Revenue (IGR) for the month of March 2020.

Technical Assistant on Treasury, Accounts and Revenue to Governor Douye Diri, Mr Timipre Seipulou, said this during the government’s second transparency briefing for the months of March and April 2020 in Yenagoa, on Monday.

He said the figure was one of the highest recorded by the state within the last 12 months.

Seipulou explained that the gross inflow for the month of March stood at N12.8bn while total deductions from the Federation Accounts Allocation Committee, stood at about N1.5bn leaving a net balance of N11.3bn.

He said the IGR for February was N848.9m, funds from other sources came up to N1.5bn, local government refunds from bailout N16.3m, total of other receipts N2.4bn in addition to net FAAC and other receipts amounting to N13.7bn.

The governor’s aide noted that the state government made a total payment of N4.8bn for both capital and recurrent expenditures.

For the month of April, Seipulou announced a gross inflow of N14.3bn comprising statutory allocation of N2.5bn, derivation N6.3bn, extra savings from the Excess Crude Account N2.7bn, Value Added Tax N1bn and exchange differential of N1.5bn.

He also said total deductions from FAAC gulped N1.47bn, which include refund for budget support N152m, refund on overpayment of derivation indices N128.3m, Commercial Agricultural Credit (Scheme 2) N266.6m, among other components.

He declared N8.1bn as total outflows, consisting bank loans and contractual guarantees of N2.1bn, civil servants salary N3.9bn, part of arrears for payment of January salaries N409m, salaries for political appointees and members of boards N119m, gratuity payments N100m, among other items.

According to him, a balance of N5.86bn was left in the state’s coffers excluding capital and recurrent payments of N4.3bn, leaving a balance of N1.58bn.

He noted that the balance brought forward from the month of March was N573.5m in addition to the balance of April (N1.583bn) stood at N2.111bn at the end of April 2020.

Earlier, the Permanent Secretary, Ministry of Information and Orientation, Mr Freston  Akpor, said the transparency and accountability posture of the Diri administration would no doubt build trust and promote good governance.

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