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.
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