Business
Commissioner Explains Bayelsa’s Dwindling Allocations
Bayelsa State government has said that the attacks on oil pipelines in neighbouring states were parts of the reasons for its dwindling allocations from the Federation Account since the last quarter of 2008.
The State received N4.45 billion allocation in June and got internally generated revenue (IGR) of N300 million while the total expenditure stood at N7.2 billion, recording a shortfall of about N2.4 billion.
Asara A. Asara, State Commissioner for Information, Strategy, and Orientation, who addressed newsmen on the outcome of the weekly state executive council meeting, expressed outrage at the development, noting that militants in Bayelsa are not blowing up oil pipelines, so the State should not be accountable for attacks on oil pipelines in neighbouring states.
He gave the monthly expenditure figures which include N2.3 billion loan repayments, N1.8 billion ISPO commitments, N2.53 billion for salaries and federal deduction of N600 million.
In spite of the financial situation, Asara said a N1.12 billion contract was awarded for equipping the Cottage Hospital, Opolo, which, he said, ranks one of the best of its kind in the country.
On why the State government has withheld the payment of overheads to ministries and parastatals, Asara alleged conversion of the funds for personal use by the various ministries and departments, assuring, however, that the State government would commence the payment of overheads when the financial situation of the State improves.

A cross section of bankers at a public function organised by the Rivers State Sustainable Development Agency in Port Harcourt, recently.
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