By Samuel Oyadongha
YENAGOA—The Governor Seriake Dickson-led administration in Bayelsa State has said that it has not obtained any foreign loan to finance any of its development projects and programmes since its inception in 2012 due to the prudent management of the state’s resources.
Deputy governor, Rear Admiral Gboribiogha Jonah (retd), stated this, weekend, in Yenagoa, while presenting the financial statements of the state for the months of July and August, 2016.
He said that though the government had made attempts to secure a foreign loan to fund the Maritime Academy facility at Okpoama in Brass Local Government Area of the state, it failed to obtain same as the Federal Government could not guarantee the deal.
He explained that the deductions being made by the Federation Accounts Allocation Committee, FAAC, were in respect of foreign loans incurred by previous administrations, but inherited by the present government.
Giving the financial position for the month of August, Jonah announced a gross inflow of N8. 7 billion, comprising, derivation of N2.8 billion, statutory allocation of N1.5 billion, budget support of N1.3 billion and exchange differential of N1.4 billion.
On FAAC deductions totaling N2.3 billion, he said that the bond gulped N1.2 billion, restructured commercial bank loan accounted for N741 million, commercial agriculture loan schemes One and Two, amounting to about N161 million, Excess Crude Account loan N126 million and foreign loan N21 million.
He noted that, the total funds available for spending comprising a net inflow of N6.7 billion and IGR of N560 million for the month of July, stood at N7.02 billion.
Jonah, who declared a deficit balance of N1.9 billion, said N1.4 billion was spent on bank loans, civil servants’ salaries N2.1 billion, capital payment of N3.2 billion, recurrent payment N1.4 billion, while that of political appointees came up to N472 million, thereby bringing the total outflows to N8.9 billion.
Source: Vanguardngr News Feed