Bayelsa spends N139.3bn on loans servicing, others in 3 months

The Bayelsa State Government says it has spent N139.3 billion in servicing both foreign and bank loans, payment of salaries, ecological funds, commercial agriculture and others in the month of May, June and July 2024. Technical Adviser to Governor Douye Diri on Treasury and Account, Mr. Timinipre Seipulo, while reeling out the incomes and expenditures […]

The Bayelsa State Government says it has spent N139.3 billion in servicing both foreign and bank loans, payment of salaries, ecological funds, commercial agriculture and others in the month of May, June and July 2024.

Technical Adviser to Governor Douye Diri on Treasury and Account, Mr. Timinipre Seipulo, while reeling out the incomes and expenditures of the state government during the monthly transparency briefing on Monday, said the expenditure amount also included foreign loans to students, restructure of over 13 percent indices, commercial agricultural schemes, ecological funds, restructure of commercial bank loan repayment, civil servants’ salaries, political appointee salaries, promotion arrears, salaries to primary school teachers, contribution to EDTF, BHIS, provisions for the cost of IGR, bank charges, capital and recurrent for the three months.

He said the total inflow for the state was over N170bn, while the balance of N81.1bn brought forward in the month of April raised it to N251.6bn.

Seipulo disclosed that at the end of July 2024, the government had in its coffer a balance of N112.2bn committed to signature projects across the three senatorial districts in the state.

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He also confirmed the receipt of the N500bn grants from the Federal Government as part of the NG Cares initiative.

He said: “The NG Cares programme is a programme run by the states the Federal Government and the World Bank and the programme is running in such a way that the states are expected to make some expenditures.

“These expenditures include areas of agriculture through FADAMA and after some period, say quarterly, the expenditures are refunded. That is after the projects are independently verified.

“The support to SMEs and individuals like the vulnerable and elderly are done in accordance to World Bank templates before refunds can be made and not complying with the template can lead to delays.

“So the N10.8bn the state received for two months was money that the government, through the NG Cares, actually spent on projects in the state,” Seipolu said.

Earlier, the state Commissioner for Information, Orientation and Strategy, Mrs Ebiuwou Koku-Obiyai, said the state monthly transparency briefing instituted by law had continued with the present administration, saying minimum of three months, the programme should be aired to tell Bayelsans the income and expenditure of the state.

She restated the state government’s commitment to the transparency laws which make it mandatory to disclose the income and expenditure profile of the state.