{"id":68445,"date":"2019-08-16T16:01:15","date_gmt":"2019-08-16T15:01:15","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=68445"},"modified":"2019-08-16T16:01:15","modified_gmt":"2019-08-16T15:01:15","slug":"dickson-offsets-payment-of-n104bn-inherited-bond-from-sylva-administration-igr-surpasses-n1bn","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/dickson-offsets-payment-of-n104bn-inherited-bond-from-sylva-administration-igr-surpasses-n1bn\/","title":{"rendered":"Dickson offsets payment of N104bn\u00a0 inherited bond\u00a0 from Sylva administration &#8230;IGR surpasses N1bn"},"content":{"rendered":"<div>\n<div class=\"gmail_quote\">\n<div dir=\"auto\">\n<div dir=\"auto\">Bayelsa State Government on Friday said it has completely\u00a0 defrayed the N104 billion bond loan inherited from the Timipre Sylva administration.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The state Commissioner for Finance, Mr. Maxwell Ebibai disclosed this during the monthly transparency briefing for the Months of June and July, 2019 in Yenagoa.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Mr. Ebibai explained that the state government painstakingly undertook the repayment of the debt in spite of numerous financial obligations.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The Finance Commissioner who noted that the Governor Dickson-led administration is not against deficit financing, but emphasized that borrowed funds must be utilized for development purposes.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">His words:&#8221;The state government has concluded the payment of bond that was taken by the previous administration.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;And as a government, our concern is that it carries the assets and liabilities of every government. We have taken on that responsibility painfully and we are done with it.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;There is nothing wrong with a government deciding to do deficit financing but what is important is what we are using it for and we have put it behind us as a state.&#8221;<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Presenting the revenues and expenditures for the month of July, Mr. Ebibai said in the month of June, it recorded an internally generated revenue of N1.5 billion as against N910m in May.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">He noted that the gross income from the Federation Accounts Allocation Committee, (FAAC), stood at N11.6 billion, while total FAAC deductions amounted to N1.1 billion.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">According to him, the statutory allocation for the month of July was N3.4 billion, derivation, N7 billion, Value Added Tax, N928 million and exchange gain differential of N23 million.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Mr. Ebibai further explained that total funds available for spending was N13.4 billion, consisting of a net FAAC inflow of N10.4 billion in addition to total other receipts of N3 billion.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u00a0On outflows, the Finance Commissioner said government spent\u00a0<a href=\"https:\/\/www.google.com\/maps\/search\/N2.4?entry=gmail&amp;source=g\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/www.google.com\/maps\/search\/N2.4?entry%3Dgmail%26source%3Dg&amp;source=gmail&amp;ust=1566050057397000&amp;usg=AFQjCNFmPwVDPgJuYZ4PqFtnMR9M_SJ2mg\" data-mt-detrack-inspected=\"true\" data-mt-detrack-attachment-inspected=\"true\">N2.4<\/a>\u00a0billion on bank loans, civil servants and political appointees salaries came up to N3.5billion, grants to higher institutions N695 million among other items.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The Commissioner who announced N701.5 million as balance brought forward from the month of June, put funds available as at the end of July as N399 million.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Mr. Ebibai also said recurrent and capital payments gulped a total of N6.4 billion.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Earlier in his remarks, the Commissioner for Information and Orientation, Hon. Daniel Iworiso-Markson had expressed expectation that the transparency and accountability policy would be sustained as it is backed by law.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Hon. Iworiso-Markson who was full of gratitude to Bayelsans for their support to the Dickson administration, urged the people to maintain the peace and ensure a smooth and hitch-free transition programme.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">He also called on media practitioners to sustain their cooperation with the present administration to enable it bequeath a new culture of peace and stability particularly in a transition period.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Bayelsa State Government on Friday said it has completely\u00a0 defrayed the N104 billion bond loan inherited from the Timipre Sylva administration. The state Commissioner for Finance, Mr. Maxwell Ebibai disclosed&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":45071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-68445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dickson offsets payment of N104bn\u00a0 inherited bond\u00a0 from Sylva administration ...IGR surpasses N1bn - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/dickson-offsets-payment-of-n104bn-inherited-bond-from-sylva-administration-igr-surpasses-n1bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dickson offsets payment of N104bn\u00a0 inherited bond\u00a0 from Sylva administration ...IGR surpasses N1bn - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"Bayelsa State Government on Friday said it has completely\u00a0 defrayed the N104 billion bond loan inherited from the Timipre Sylva administration. 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