Bayelsa government on Thursday said it earned a gross income of N13.91 bn from the Federation account but ended up with a deficit of over N2 bn after expenses according to Mr Timipre Seipolo, Special Adviser to the Bayelsa Governor on Treasury and Accounts.
Seipolu, who gave the figures at the monthly income and expenditure breakdown said that after deductions at source, the state got a net revenue of N12.39 bn for November 2019.
According to him, after recurring expenses including salaries for civil servants and political appointees and obligations to banks for loans the state was left with a cash balance of N7.38 billion which was applied to capital expenditure and to offset a N4 bn liability from the previous month.
He said that the current liability of the state after utilization of accrued revenue stands at N2.12 bn.
Earlier, Mr Daniel Iworiso-Markson, Commissioner for Information said that the people of Bayelsa will miss the Gov Seriake Dickson led administration for the numerous impactful projects across the state as the government gets ready to hand over.
He said that the outgoing administration embarked on ambitious projects across all sectors like education, infrastructure and urged the people to continue to support the administration which places a premium on transparency in public finances