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Bayelsa govt. gives account of total income, expenditure

Isaac Ombe, Yenagoa

The Bayelsa State Government has given a breakdown of its total expenditure and inflow for the months of May and June 2022.

The total receipts after FAAC deductions amounted to about 41.6 billion in the months of May and June 2022.

A breakdown of the above amount for the two months indicates that the month of May had total receipts after FAAC deductions came to N22,922,4559,81 while the month of June had a total of N18, 687,189, 000.

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Technical Adviser to the governor on finance, Mr. Timipre Seipulu, who briefed journalists on government’s income and expenditure for the months of May and June 2022, in Yenagoa, disclosed that the statutory allocation to the state, the inflow for the month of May was N2.57 billion.

Other aspects of inflow for the month, according to him, included derivation, VAT, excess bank charges, non-oil revenues as total gross income for the month of May amounted to N22,860,553,974.

Seipulu, who was flanked by Maxwell Ebibai, the state’s Commissioner for Finance and that of Information and Strategy, Ayiba Dubai, also disclosed that FAAC deductions Upfront for the month in question amounted to N154. 9 billion and IGR recovery.

According to him, total deductions Upfront for the month of May amounted to N1,622,782000.

Briefing journalists as part of the quarterly transparency briefing organised by the state government, the outflows for the month of May, the technical Adviser said this included bank loan payments, salaries for civil servants and political appointees, gratuity payments and salary grants for tertiary institutions.

For recurrent payments for the Month of May N2.9billion, bringing the total to N14.07 billion .

He said that the state also experienced a “deficit of N1,440,771,760.23k

“In April, we had a balance brought forward  to N3,886,44 billion. Closing balance that was carried to June amounted to N2, 435,272,740.

The total gross receipts for June amounted to N19.9 billion. Repayment and deductions including refund of budget surplus amounted to N1.6 billion and made up of  the  refund of budget support 14.91 billion.

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Total receipts after FAAC deductions amounted to N18,687,189,000.

Total outflow for June came to N8 163 billion

Net total receipts N10.52 billion before capital and recurrent payments

While recurrent payment for June was N2.5 billion, Capital payment had N6.94 billion

Total payments amounted to N9.44 billion.

Balance after payment for recurrent and Capital payments amounted to N18,83,332,88,65.

According to him, a balance brought forward from the month of May amounted to N2.435 billion, while the balance in June amounted to N3,518,607,782,67.