Bayelsa recurrent expenditure hits N16.6bn in march

Bayelsa recurrent expenditure hits N16.6bn in march

The Bayelsa State government has said that its total recurrent expenditure in March 2019 was N16.6 billion while total capital payment gulped N13.5 billion in the same month. Gboribiogha Jonah, the State Deputy Governor, disclosed this during the income and expenditure monthly briefing for the month of March 2019 in Yenagoa. He said that the

The Bayelsa State government has said that its total recurrent expenditure in March 2019 was N16.6 billion while total capital payment gulped N13.5 billion in the same month.

Gboribiogha Jonah, the State Deputy Governor, disclosed this during the income and expenditure monthly briefing for the month of March 2019 in Yenagoa.

He said that the first line deductions from Federal Accounts Allocation Committee (FAAC) stood at N1.5 billion, comprising bond deduction of N421.5 million and foreign loans to states, N33.3 million.

Jonah, a retired Rear Admiral of the Nigerian Navy, stated that other components deducted at source included, Commercial Agricultural Credit Scheme N79.4 million; salary bailout to local government councils, N16.3 million; excess crude account loan facility to states N126.6 million and restructured commercial bank loan of N741 million.

He said that bank loans and contractual guarantees gulped N3.2 billion, salaries for civil servants for the month under review was N2.8 billion, while that of political appointees came up to N416.7 million.

Other expenditures included salary grant for tertiary institutions N630 million; 10 percent contribution to primary school teachers’ salary N47.6 million; transfer from local government Paris Club refund, N1.2 billion and (outstanding) salary for civil servants for the months of April and May, 2016, N4.3 billion.

He further said the state received N13.2 billion as gross inflow from FAAC.

He explained that the gross inflow included statutory allocation of N2.6 billion; derivation N8.4 billion; foreign exchange equalisation N1.3 billion; and refund from other states N57.5 million.

Jonah noted that the net inflow from FAAC, in addition to the gross inflow, excluding the first line deductions, left a balance of N11.7 billion.

He said other receipts were internally generated revenue (IGR) for February 2019 N739 million; Paris Club debt refund of N16 billion; funds from other sources N500 million; and refunds from the local government bailout N16.3 million.

Total receipts that accrued to Bayelsa in March 2019, according to the deputy governor, amounted to N16.8 billion while total receipts from net inflow from FAAC was N28.5 billion.

Jonah, however, declared a balance receipt of N3.7 billion as at the end of March 2019.

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