GOV DICKSON DECLARES N28.9B BALANCE IN STATE’S COFFERS FOR MARCH 2013, AS IGR HITS ALL TIME HIGH OF N1B

GOV DICKSON DECLARES N28.9B BALANCE IN STATE’S COFFERS FOR MARCH 2013, AS IGR HITS ALL TIME HIGH OF N1B 

In keeping with the tradition of the present administration’s policy on transparency and accountability, Governor Seriake Dickson of Bayelsa State has declared a total of N28.972bn as balance of funds available for the state as at the end of March, 2013. Addressing the press on the financial position of the state for the months of February and March, this year at the Banquet Hall in Yenagoa, Governor Dickson also gave N19.7bn as total balance standing to the credit of the state for the month of February.

 In a breakdown of the figures for February, the Governor declared N19.7 as Gross Inflow comprising Statutory Allocation of N2.4bn, Derivation amounted to N10.04bn, while Value Added Tax came racked in N648 million, Subsidy Re-Investment and Empowerment Programme, SURE-P came up to N1.1bn among other items. On the Outflows, Governor Dickson explained that a total FAAC deduction of N2.38bn consisting of Bond deduction of N1.241bn, Foreign Loan obligation of N11million, Refund of overpayment to the Federal Government on the Excess Crude Account in three tranches of N509.8 million, N187million and N392.8million was made, leaving a Net Inflow of N17.270bn. 

According to the Governor, salaries of Civil Servants gulped N3.817bn, that of political appointees stood at N335 million with monthly overhead payment of N1.1bn while statutory approvals stood at N230 million, gratuity payment of N250 million as well as transfers to the State Compulsory Savings Account of N250 million. He said the sum of N100 million was remitted to the State owned Niger Delta University for the payment of salary arrears owed its workers, pointing out that actual recurrent expenditure gulped N2.5bn while that of Capital was put at N10bn.

 For the month of March, Governor Dickson reported a Gross Inflow of N24.bn made up of Statutory Allocation of N2.3bn, Derivation of N9.5bn, VAT amounting to N658 million, SURE-P stood at N1.068bn while augmentations was put at N10.3bn, noting that there was no disbursement from the Excess Crude Account. 

Governor Dickson also stated that N2.38bn was deducted at source by FAAC, giving the breakdown of the figure to include salary obligation for civil Servants as N3.8bn, political appointees N336 million, overheads of N1.1, IGR of N80 million, land acquisition N250 million.

 The Governor who used the opportunity to commend the state workforce for their understanding and cooperation on the present tax regime, said revenue accruing to the state coffers has increased to N300 million on a monthly basis. 

He also added that the overall monthly IGR came up to N1bn assuring that government would make judicious use of the resources to develop physical infrastructure, create wealth and jobs for the people to get value for their money.  

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