AGAINST the backdrop of speculation, has said Bayelsa State Government that it has not received the 2nd tranche of the Paris/London Club refund, and urged the people of the state not to be misguided by the rumour mill in the state.
The government also said that it was commendable that for the first time, it recorded N1.13 billion as its internally generated revenue (IGR) for the month of March, 2017 as against N983 million declared in February, due to government’s aggressive drive to shore up revenue for the state.
Deputy Governor, Rear Admiral Gboribiogha John Jonah (Rtd), who announced this during the transparency briefing for the month of April, 2017 in Yenagoa, said the government is yet to receive the second tranche of the Paris club refund.
He noted that the state government received N14.5 billion in November last year out of the N21.168 billion due the state for the first tranche of the Paris Club refund.
The deputy governor, however, disclosed the receipt of additional N6.61 billion in the month of March, as the balance of the N21.168 billion, out of which N1.9 billion was released to the local government councils.
His words: “The Paris Club refund to states is not a gift from the Federal Government to pay salaries; it is state governments’ money that was deducted without consulting the states. At a meeting, it was decided that the money should be paid in two instalments.
“A chart was drawn up and the entitlements of every state were written. But, the Federal Ministry of Finance and the Central Bank of Nigeria decided that if that money was released to states for payment of salaries, there would be too much money in circulation. It was then decided the money would be paid in four instalments, which is 25 per cent at a time.
“When the first 25 per cent was paid, Bayelsa State could have got N21.168 billion, but then, when the money came, they only released to us N14.5 billion. The first tranche was supposed to have been N21.168 billion. But again, that N14.5 billion was not for the state government alone, because out of the amount, N1.3 billion was for the local government councils. So, what actually came to the state government was the balance of N13.2 billion.”
Jonah, who noted that the state made significant improvement in the IGR in recent times, attributed the development to deliberate efforts to beef up the revenue base of the state.
The deputy governor explained that though the state experiences seasonal fluctuations in its IGR, the government hopes to sustain its current drive, particularly in the area of wooing investors to increase the revenue.
Presenting the income and expenditure profile, he said the state government was left with N7.3 billion as total funds available as at the end of April, 2017.
He, however, noted that out of the gross inflow of N11.6 billion, FAAC deductions gulped N1.5 billion, thereby bringing the net inflow to N10.4 billion.
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