Home News Bayelsa Govt. declares over N4bn as available fund for July

Bayelsa Govt. declares over N4bn as available fund for July


By Christian Ogbonna
Yenagoa –   The Bayelsa Government on Friday declared a total of N4.8 billion as money available to the state, as at the end of July.

The Deputy Governor, Rear Admiral Gboribiogha Jonah (Rtd), who disclosed this during the state monthly financial transparency briefing, said the gross inflow from the Federation Account (FAC) stood at N10.5 billion for July.

Jonah said the total net inflow from FAC was N9 billion, while bond from other sources amounted to N4 billion and second tranche of Paris Club Refund was N10 billion.

“For the month of July, the total amount available for spending was N23.8 billion,” he explained.

On Internally Generated Revenue (IGR), the Deputy Governor said the state generated N752 million in June.

“Out flow, bank repayment was N2.2 billion, salary of civil servant for July was N3.6 billion, political appointees, N300 million.

“So, because of the money we had, we were able to pay some salary arrears including September and December, 2016.

“Yes, the Paris Club Refund belongs to the state and the local governments, the sum of N919 million from the refund was released to the local governments to pay salaries.

“We have N10.8 billion as balance from July FAC, while fund available was N4.8 billion,” he said. (NAN)

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