Bayelsa Receives N12.6B From FAAC for July 2012


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Bayelsa State Government says a total of N12.6 billion was received as gross income for the month of July 2012 from the Federation Accounts Allocation Committee (FAAC).

Speaking at the fifth Bayelsa State Transparency Initiative Monthly Press Briefing in Yenagoa, Deputy Governor, Retired Rear Admiral Gboribiogha John Jonah, who rendered the accounts of the State on behalf of government explained that, out of the figure received for the month of July, derivation accounted for N7.740 billion while the statutory allocation was N2.390 billion.

According to retired Rear Admiral John Jonah N1.18 billion was paid for Subsidy Reinvestment Empowerment (SURE) Programme while NNPC refund came up to N311.6 million.

Also, the Deputy Governor announced, N6.91 billion as the total amount for Expenditure which included N3.89 billion as salaries for civil servants and N215 million as salaries for Political appointees.

Other deductions according to him were N227 million for gratuity payment to retiring civil servants for July 2012 while 169 million was paid as gratuity for retiring Primary School teachers.

Retired Rear Admiral John Jonah stated that total amount of deductions made at source was N3.21 billion out of which N1.24 billion was payment for bond and N187 million for refund on overpayment of revised 13% Derivation indices from the month of August 2008 to December 2009.

(Do you have an article for publication? Please email it to bayelsanewmediateam@gmail.com)

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