BEYOND IGR, DEBT WAS INHERITED AMIDST CHALLENGES OF GOVERNANCE ...BAYELSA GOVT EXPLAINS

BEYOND IGR, DEBT WAS INHERITED AMIDST CHALLENGES OF GOVERNANCE ...BAYELSA GOVT EXPLAINS

 Bayelsa State Government has reacted to the reported debt profile of the State which was said to have failed the domestic debt sustainability analysis as documented by the Debt Management Office, saying while the substantive figures in the document were right, it was an inherited burden which the state government had made much effort to reduce to a bearable level even amidst the challenges of meeting the financial requirements of running the administration.

 In a statement yesterday, the Chief Press Secretary to the Governor, Daniel Iworiso-Markson, noted the fundamentals of the report, but was quick to point out that beyond the perceived huge IGR, responsibilities of government in the state were equally so large, adding that the repayment of debt had been on-going having established the total debts inherited from the previous administration even as concerted efforts are being made to liquidate the remaining part of the debt. “We noted the relative figures in the report which suggested concern but the reality is that the debts were solely inherited and we have made much efforts to reduce it significantly.

The Hon. Dickson administration has not borrowed a kobo since assumption of office, we have rather been saving money to finance development programmes and we can see the results so far.Also, we have to put it into context the challenges of running an efficient and effective administration and of course the numerous challenges of development we met in the state, which necessitated that while we continue to reduce the debt profile we inherited, we must also be mindful of the government’s responsibility to the people.

So in the face of these challenges, the perceived huge IGR in the state is still not sufficient to finance the ambitious restoration agenda of the Hon. Dickson-led administration. Yet, we are proud to state that while we have some outstanding debt, no fault of ours as it was inherited, but obliged to pay as a government, we have made substantial investments and progress in every facet of the state’s economy; from massive infrastructure to education to tourism and human capital development and job creation which cost so much relative to the IGR in Bayelsa State.

Overall, we are marching ahead with determination to make a remarkable difference in the development of the economy that has really impacted meaningfully on the people of the state even as we emphasize prudent and responsible leadership, which are essential values in financial management and advancement of our dear state.

Of course, our dedicated Savings bank account is part of the structural financial arrangement to deal with such issues as debt, but this cannot be done at the expense of pressing developmental challenges as we witnessed in the last one year, some of which were unforeseen like the terrible flooding which gulped several millions of naira.Still, we have to move on, doing our best in attending to so many issues of governance as a mark of responsibility to the people.

 To this extent, the reported debt was not and can not be a negative performance index on the part of the government of Bayelsa State but a fact of financial management to have a balanced budget which effectively covers the diverse sectors of the state’s economy and indeed the best interest of the people and not necessarily a factor of IGR mismanagement or any funds for that matter accruable to the state.

Our books are open to the public, which in any case we have consciously made known to the public on a monthly basis as usually rendered by his Excellency, Hon. Seriake Dickson.We will still continue to deliver on accountability, transparency and the essentials of our manifesto and indeed paying attention to the remaining debt untill it is finally liquidated.         

  Signed
 Daniel Iworiso-Marskon
Chief Press Secretary to the Governor of Bayelsa State