BAYELSA RECEIVES N10.7BN ALLOCATION FOR JANUARY, 2019
The Bayelsa State Ministry of Finance has declared receipt of the sum of N10.7 billion as allocation from the Federation Account for the month of January, 2019.
The Commissioner for Finance, Mr. Maxwell Ebibai, said in a statement on Thursday that the January receipt was N3 billion less than that of December which was N13.7 billion.
He said that the Finance Ministry found it pertinent to declare the receipts for the month of January in line with the Government’s policy of transparency and accountability.
Ebibai said that the N3 billion shortfall in allocation represented a significant reduction in projected income in view of the plan of the government to take advantage of the dry season and the weather to ensure project execution and even completion.
The Commissioner said that the State Governor, the Honourable Henry Seriake Dickson, directed immediate payment of salaries in spite of the major shortage because of his commitment to the welfare of workers in the State.
He restated the commitment of the government to its obligation to workers and pensioners as soon as the awaited last tranche of the Paris Club loans over deductions due to the state are paid.
He said, “In line with the spirit of transparency and accountability of the Restoration Government, the State Ministry Finance has declared receipt ofN10.7b as allocation for January 2019.
“The January receipt is lower than the N13.7b of December 2018 with a shortfall of about N3b which is very significant for a State and Government focused on taking advantage of the dry weather for completion of strategic projects.
“Despite the huge shortfall in revenue receipts and delay arising from the late receipt of funds, the Governor, the Honourable Henry Seriake Dickson directed the payment of January 2019 salaries which commenced immediately.”
Ebibai stated further that the government would give priority to the funding of capital projects with the revenue shortfall in the state.
He stressed that the state “is yet to receive these funds (last tranche of Paris Club refund) as the Federal Government has delayed payment to only selected states”