A Review of the Nigerian Energy Industry

Bayelsa declares N25bn earnings for September & October

Samuel Oyadongha

20 November 2012, Sweetcrude, Yenagoa – Bayelsa State government Monday put its earnings for the months of September and October from the federation allocation at N25bn.

The government also defended the evacuation of the flood victims from various relief camps, arguing that since the flood water has receded in the affected communities there was the need for them to go back and start their normal lives.

Presenting the state income at the monthly transparency initiative briefing Governor Seriake Dickson commended the people that identified with the state; Non Governmental Organizations (NGOs), government agencies and corporate organizations during its moment of grief.

He said the challenges before his administration was how to resettle the victims and rebuild the collapsed infrastructure now that the flood water has receded.

On the state financial status, the State Deputy Governor, Rear Admiral Gboribiogha John Jonah who gave the breakdown of the state income and expenditure for the month of September declared N2 billion as inflow from statutory allocation for the month of September while the gross inflow stood at N12 billion for the same month including over 8 billion Naira from derivation and N532 million was recovered from value Added Tax.

He announced that the state government got N311 million as refund from NNPC and N768 million was recovered as augmentation.

On the refund of excess crude savings, he said, government got N509 million while a refund of N187 million was recovered from the revised 13 percent from the month of August 2008 to 2009 as the 20th deduction.

Rear Admiral John Jonah noted that deductions amounted to N3 billion after FAAC deductions.

Out of this figure he explained that Bond deductions stood at over N1 billion while foreign loans came up to N12 million.

On refund of excess crude savings, the Deputy Governor gave N509 million and refund of overpayment on revised 13 percent derivation indices from August 2008 to December 2009 as the 20th deduction amounting to N187 million.

He also noted that a commercial agricultural credit scheme obligation stood at N83 million.

The Deputy Governor gave N86 million as refunds made for overpayment, while the Net inflow from FAAC after deductions amounted to N9 billion and IGR from the month of August came up to N479 million leaving a balance of N903 million.

According to him, the total fund available stood at N9 billion.
On the outflow, the Deputy Governor said bank repayment gulped over N1 billion while Federal Inland Revenue Service deductions stood at N200 million.

He explained that salaries of civil servants came up well over N3 billion, while that of political appointees was over N249 million.

He noted that N1 billion was made as monthly overhead payments, while monthly standing approvals stood at N194 million with gratuity payment coming up to N250 million, totaling N6 billion.

Giving N26 billion as balance brought forward from the month of August 2012, the Deputy Governor stated that total funds available to government as at 30th of September was N22 billion.

On the month of October, John Jonah stated that, the state got N2 billion from the FAAC and derivation was N9 billion.

According to him, VAT stood at N564 million, SURE- programme was N1 billion while NNPC refund came up to N311 million.

He said the gross inflow for the month of October was N13 billion, while a deduction of N3 billion was made, including bond deduction of over N1 billion.

He said foreign loans recovery was N12 million, refund of domestic crude savings account was N509 million as well as refund of overpayment of derivation which stood at N187 million.

The Deputy Governor gave over N3 billion as payment for civil servants’ salaries while N304 million went for salaries of political appointees.
Monthly overhead payments, according to him came up to N1 billion with total funds available to government as at the end of October standing at N23 billion.

Defending the administration decision to evacuate the flood victims from the relief camps back to their communities, Governor Seriake said “now that the flood water has receded, the challenges before us is how to resettle the victims and rebuild the affected public buildings including schools and hospitals and, as well put in place necessary measures to prevent outbreak of epidemics.

“The flood dealt a devastating blow on the state, as thousands of people lost their means of livelihood. Farmlands were washed away, while public buildings including schools and hospital were submerged.”

Warning people against playing politics with the recent development in the state, the governor said his administration has commenced move to upgrade and renovate the damaged public infrastructures.

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  1. Sweetcrude Reports via Facebook Reply

    It may be of interest to know how much the state also made from other sources such as IGR, ecological fund, etc.

  2. Minabote Inko-Tariah via Facebook Reply

    At $45m a piece, how many bombardier jets can be bought?