Bayelsa State Government yesterday said it posted N2.8 billion, including Subsidy Re-investment Programme (SURE- P), as funds available as at the end of February 2015, just as it announced N758 million as IGR for the month of January.
Governor Seriake Dickson represented by his deputy, Retired Rear Admiral Gboribiogha John Jonah announced this at the monthly transparency briefing in Yenagoa.
Governor Dickson, who announced a gross inflow of N10.9 billion from the Federation Accounts Allocation Committee, FAAC, comprising statutory allocation of N2.3 billion, derivation N7.6 billion, VAT N572 million, Excess Crude N257 million and NNPC refund of N156 million.
On FAAC deductions, he explained that, Bond deductions stood at N1.2 billion, foreign loans N12.9 million, commercial agricultural credit scheme two was N66.7 million, fertilizer for 2013 farming season, the 4th out of 6 installments, amounted to N2.9 million, while refund of arrears of derivation revenue to Akwa Ibom State on the Iro Ekanga Oil field was N132 million, totaling N1.5 billion.
These deductions, according to Governor Dickson, brought the net inflow from FAAC to N9.5 billion, putting the IGR receipt for January 2015 at N759 million, while funds from other sources amounted to N500 million, in addition to special refunds N751 million.
On expenditure, he said bank loan repayments stood at N5.2 billion, salaries of civil servants, including pension payments was N4.035 billion while that of political appointees came up to N404 million, noting that there was no monthly overhead and 18% minimum arrears payments.
Total Payments gulped N1.4 billion, comprising recurrent of N983 million and capital payment was N1.1 billion, leaving a balance of N2.8 billion, including SURE –P.
For January, 2015, the Governor declared N10.7 billion as net inflow from FAAC, N809 million as IGR receipts for December 2014, funds from other sources was N1 billion and Bond refunds to the state of N1.5 billion bringing total funds available for spending to N13.987 billion.
On expenditure, Governor Dickson posted bank loan repayments of N4.968 billion; salaries of civil servants were N4.015, political appointees N394 million, monthly overhead payments stood at N921 million, monthly standing approvals was N241 million, but there was no payment for the 18% minimum wage.

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