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He said "As government, we have always been telling Bayelsans and indeed Nigerians the state of the Bayelsa finance and we kept our promise that we will not play politics with the development of the state and welfare of the citizens".
- Restates commitment to developmental projects From Femi Folaranmi, Yenagoa Bayelsa State Government has disclosed that the state revenue as at
The Bayelsa State government on Wednesday confirmed it received N90 billion from the Excess Crude Account (ECA) from the federation account as of October 2022. ECA warehouses oil revenue in excess of the budget benchmark of crude oil prices for redistribution to states on a quarterly basis. The Technical Adviser to the Bayelsa Governor on Treasury and Accounts, Timipre Seipulo, announced the figure at the monthly breakdown of income and expenditure for September and October 2022 in Yenagoa.
Domestic debt stock data from the Debt Management Office for Bayelsa as at 31 March stood at N151.41 billion.
Represented by his Technical Adviser on Treasury and Accounts, Timipre Seipulo, he explained that the federal government has structured the refund process in the way that state have to wait for four to five years before they can access the full amount of the refunds. But according to him, for states that want their funds, it has to be discounted and as such the 27billion naira that was announced by the government is the discounted amount from the 38 billion naira. The state House of Assembly members were rumoured to have begun impeachment process against the governor for not disclosing the am...