The Deputy Governor of Bayelsa State, Rear Admiral John Jonah, has dispelled rumours in the state that Bayelsa State got the sum of 19 billion Naira from the federation account for the month of July.
He revealed that the exact amount available for spending in the state after all the deductions is N3,502,822,482.66.
According to him, because of the harsh economic situation the state is currently undergoing that has led to civil servants receiving half of their monthly salary, some persons who he described as mischief makers have seized the opportunity to misinform the public.
He said “While we acknowledge that there has been a sharp increase from the latest allocation as compared to previous months especially for this year, we want to for the benefit of hindsight make public the authentic details of the amount from the various sources.”
He provided a breakdown of the declared figures as follows:
SOURCE AMOUNT
Statutory Allocation N2, 310,274,788.13
13 percent derivation N3, 126,869,735.56
Value Added Tax N609, 108,530.22
Exchange Gain N1, 189,970,982.76
GROSS TOTAL N7, 236,224,036.67
FAAC Deductions N2, 308, 843,297.75
Net FAAC Receipt N4, 927,380,738.92
Local Debt Service N1, 424,558,256.26
NET TOTAL N3, 502,822,482.66 .
To ensure absolute transparency in the financial activities of the state a website was launched.
The website is www.bayelsawatch.org.
