Mkpoikana Udoma
Port Harcourt — Bayelsa State Government has announced that it got a gross income of N13.91billion from the Federation Accounts Allocation Committee, FAAC, in the month of November 2019.
Special Adviser to Bayelsa State Governor on Treasury and Accounts, Mr Timipre Seipolo, who disclosed this at the monthly income and expenditure breakdown, said the state ended up with a deficit of over N2billion after expenses.
Seipolu explained that after deductions at source, the state, however, got a net revenue of N12.39billion for November 2019.
“After recurring expenses including salaries for civil servants and political appointees and obligations to banks for loans, the state was left with a cash balance of N7.38billion which was applied to capital expenditure and to offset a N4billion liability from the previous month.
“The current liability of the state after utilization of accrued revenue stands at N2.12bilion.”
Also speaking, Bayelsa State Commissioner for Information, Daniel Iworiso-Markson, said that the state will miss governor Seriake Dickson, for his numerous impactful projects across the state as the government gets ready to hand over next month.
