By- Alambo Datonye
Bayelsa State Government has reiterated its commitment to fulfilling all financial obligations to ongoing capital projects being executed by the present administration.
Commissioner for Information, Orientation and Strategy, Ebiuwou Koku-Obiyai made the pledge in Yenagoa at the Income and Expenditure profile briefing for the months of May, June and July this year.
The state government declared a closing balance of over one hundred and sixty-five billion Naira in its coffers as of the end of July.
The Commissioner for Information, Orientation and Strategy said the Bayelsa State government has institutionalized the monthly income and expenditure profile briefing as part of its commitment to transparency and public accountability.
Mrs. Ebiuwou Koku-Obiyai stated that the policy philosophy is behind all the ongoing projects in the State to fast track development, stressing that the Governor Douye Diri led Administration would continue to finance the projects with the goal of completing them before leaving office.
Technical Adviser on Treasury, Revenue and Accounts to the Governor, Mr. Timipre Seipulou while giving a breakdown of the income and expenditure profile of the State for the months of May, June and July this year said over N165.8 billion was the balance in the State’s coffers as of the end of July after recurrent and capital expenses.
He said much of the funds were being expended on capital projects which gulped, N94.8 billion for May, N35 billion for June and N79 billion for July while recurrent expenditure was N7.3 billion for May, N6.4 billion for June and N6.3 billion for July.
On the Tax Reform, Mr. Seipulo noted that the new Tax Law Act when implemented will have effect on the revenues of the State.
