Diri signs N389.37bn Bayelsa budget

Governor Douye Diri of Bayelsa State has signed the 2023 Appropriation Bill of N389.37 billion into law. He also signed a bill on the state’s Contributory Pension Scheme. Presenting the two bills for assent at the Government House in Yenagoa, Speaker of the House of Assembly, Abraham Ingobere, explained that the state and local government […]

Governor Douye Diri of Bayelsa State has signed the 2023 Appropriation Bill of N389.37 billion into law.

He also signed a bill on the state’s Contributory Pension Scheme.

Presenting the two bills for assent at the Government House in Yenagoa, Speaker of the House of Assembly, Abraham Ingobere, explained that the state and local government workers would be required to contribute 8% of their salaries toward their retirement while the state government and local government councils as their employers would contribute 10% on their behalf.

Also, he noted that political officeholders are expected to contribute 10% of their salaries while the state government and local government councils contribute 15% on their behalf upon their retirement or disengagement from the service.

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On the 2023 Appropriation Law, Mr. Ingobere said the initial amount presented to the assembly for consideration was N385.21 billion but after consultation with ministries, departments and agencies, the figure was increased by N4 billion, thereby bringing the total amount to N389.37 billion for the 2023 fiscal year.

While assenting to the bills, Governor Diri said the Contributory Pension Law would put an end to the long delay and harrowing experience retirees go through before receiving their gratuities and other entitlements.

 The governor stressed that the pension scheme had to be backed by law because of its importance, which he noted would outlive his administration.

 According to him, the scheme covers all employees of the state as well as political office holders both at the state and local government levels.