No Project Will be Stalled in Bayelsa State: Duba

 

 the Posperity Administration under Governor Douye Diri of Bayelsa winds up her first tenure, it has assured that no project in the state  will be Stalled or abandoned during their time  despite the paucity of funds from the federal government in recent times.

  The State Commissioner for Information, Orientation and Strategy, Ayibaina Duba, in his welcome remarks on Thursday in Yenagoa during the transperncy briefing  on the income and expenditure profile for the months of February and March 2023

He said  " Despite the  dwindling income from the Federation Accounts Allocation Committee (FAAC),  tell Bayelsa people that no project, no matter the cost implication will be Stalled.

 "As a responsive and responsible government, we will continue to meet our obligations.

Also in his remarks shortly before  he reeled out the infollow and outflow for the month s of February and March,  Ebibai, the finance Commissioner , stated  that the ministry of finance has the responsibility of funding all government projects .

" We in finance ministry,  is our responsibility to ensure that government  programmes are funded".

In the income and expenditure profile presented by the state Commissioner for Finance, Maxwell Ebibai,  he read that the total receipts for February less FAAC deductions stood at N22.472 billion and total recurrent expenditure was N21.292 billion.

 He continued that the state, however, had a closing balance of N9.863 billion for February due to balance brought forward from January, which Ebibai said was "Our positive closing balance as at the end of February. This was the money we had in our hands before we went into the month of March."

In March, Bayelsa also had a negative balance of N5.975 billion, which was only made good by the balance brought forward from February leaving a closing balance of N3.887 billion.

Ebibai disclosed that the government set aside a billion Naira for the payment of gratuities in February due to available funds.

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He further  explained the  internally generated revenue for the month of February  was.as high as N3.190 billion because of   payment of Payee remitted  in bulk by the federal government .

According to Ebibai, in the month of February, there was a  total inflow from. FAAC  N19.826billion. He said a  total deductions at FAAC amounted to  N2.4 billion. While the net inflow for the same month. was  N17.423billion .

"That was what we received at the state level", he said stressing that"total other receipts amounted to N5.049billion".

The finance Commissioner further disclosed that revenue for the month amounted to N22.472 billion, stressing, "That is what we received for the month".

While  the  total  recurrent payment for the month amounted  to N21.292 billion , he added   however that the state  had positive balance in February  with N17.771 billion.

"Our positive closing balance as at the end of February  amounted toN9.863 billion "' , he added, stressing "this was the money we had in our hands before we went into the month of March" .

Ebibai further announced that in the month of March, total receipts from  FAAC  amounted to N17.664 billion .

While total deductions at FAAC amounted to N2.398 billion "which gave us the Net FAAC receipt of N15.265 billion .

He further  explained the  Internally Generated Revenue for the month of February  was.as high as N3.190 billion because of   payment of Payee remitted  in bulk by the federal government .

" It was  payee which was suppose to be remitted by the federal government over the months.. came in bulk . Payee is an item for the board of Internal revenue. This made the state IGR  N3.190 billion in the February ".

However in March we had  N1.6 billion  for IGR., he  disclosed.

Ebibai said a  total other receipts for march amounted to  N3.26 billion . When added to the Net receipt from FAAC , it will amount to  N18.530 billion  as total revenue for March .

He explained that the total payment amounted to  N8.565 billion . While debts for  the month  amounted  to   N9.965 billion .

According to.him, total payment   also amounted to  N15.940 billion with a negative of N5.975 billion.We had N3.887b.

" That is how we closed the month of March", the finance Commissioner added.