The Bayelsa State Government has assured that it will continue to pay subvention to tertiary institutions in the state stating that it has become a policy that can’t be stalled.
Speaking on Friday in Yenagoa during a transparency briefing for the months of April and May, Timipre Seipolu the technical adviser to the Bayelsa state governor on treasury and account flanked by his information, orientation and strategy commissioner, Ayiba Duba maintained that the monthly subvention increased recently because the government paid some arrears and gratuities that have been on the pipeline.
He said that most of the projects being handled by the prosperity are capital projects like the three senatorial roads and some internal roads
On how the internally generated revenue is handled he said that the board that handles is an independent body that takes a percentage of what it generates every month maintain that money is used to run the board and pay consultants.
Seipolu said “Government is implementing the subvention policy for tertiary institutions and government has continued to stand by that. There was a demand for arrears and thirty thousand minimum issues and government reviewed it and felt that all those should be the responsibility of government and government approved and directed immediate payment and the payment is ongoing in all the affected tertiary institutions.
“Most of our projects are capital projects. The AIT/ Elebele road, Nembe Brass road, the three senatorial roads are taking a lot of funds, internal roads and some other building projects are going on.
“A lot of internal roads are going on especially within this rainy season. Government is doing a lot to make sure that these roads are rehabilitated and new constructions carried out.
On the internal generated revenue, he said “The percentage of IGR made each month is paid to consultants and the board of internal revenue because the board is an independent unit so they have to do everything possible to generate revenue so the government does not require the board to come to government to make any approval for them.
“They are given a percentage of the money collected so it is their responsibility to ensure that they collect as much as they can and then they take a percentage of that and that is what we call cost of collection to run the operation.
Reeling out the income and expenditure of the state for the months of April and May, 2023 Seipolu stated that the gross inflow from FAAC for the month of April was FAAC was N25,885, 577,325.90 while other receipts came up to N5,436,183.33.17.
He said that the total money that the received at the end of the month deductions N28, 920, 416,860.41.
Outflows he read out were grant to tertiary institutions, N961,000,000, provision for cause of IGR, N154,000,000 among others adding that total outflow for April came to N8,762,826,230.97.
Net balance of N20, 157, 590,629.45 minus recurrent payments for April according to Seipolu the balance as at the close of April was N7, 943,323,854.
While in May 2023, net receipt from FAAC was N21, 951,439 while IGR and other receipts came up N15, 308,746.692 making everything N37, 260,185,740.
He said net balance of N28,148,983 minus expenditure of N29,313,7,358 brought a shortfall of N1,164,23,454.
plus balance of N7,943,323 brought forward giving balance as at May ending of N6,779,300,400.
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