NEDU MARK, Yenagoa
Bayelsa State Governor Seriake Dickson, Tuesday, expressed the worry that the state is finding it difficult to meet its obligations following the dwindling allocations accruing from the Federation Account.
Dickson who stated this during the Monthly Transparency Briefing in Yenagoa, noted that the state only received sum of N 6, 494, 732, 109.20 k revenue from the Federal Account for the month of October 2015.
Represented by his Deputy, Chief John Jonah, Dickson regretted that the state was witnessing austere times.
Dickson said the state was finding it increasingly difficult to meet its obligations.
According to the Governor, a total deduction of N2, 198, 490, 641.56 was effected at the source leaving the state with a net income of N 4, 296, 241, 554.64k for the month of October 2015.
The deductions included obligations for bonds, foreign loans, commercial agriculture credit schemes, and loans from commercial banks amongst others.
He said that the state also received N 522, 608, 000.00 as Internally Generated Revenue for the month of September.
The state, according to him, expended a total sum of N 6, 091, 848, 790.30 incurring a deficit of N 1, 272, 999, 235.66.
Dickson said that the state sourced the deficit from commercial banks to augment the revenue to meet the financial obligations of the state.
He said that despite the harsh economic climate, the state remained committed to meeting the salary obligation of its workforce.
