The Bayelsa State Government has announced that it received a total net revenue of N26.8bn for the months of July and August 2021 from the Federation Account.
While the government got N14.2bn in July, the sum of N12.6bn accrued to the state in the month of August.
But the state’s total gross inflow for the two months stood at N31.5bn with N16.5bn for July and N15bn in August.
The Commissioner for Finance, Maxwell Ebibai, disclosed these during the income and expenditure briefing for the two months at the Treasury Building in Yenagoa.
Ebibai said receipts from other sources in July amounted to N12bn in addition to an internally generated revenue (IGR) of N1bn, bringing the total receipts for the month to N26bn.
According to him, the total deductions for July at Federation Account Allocation Committee was N2.3bn while total expenditure stood at N21.7bn, leaving a net balance of N4.6bn which was added to N2.9bn brought forward from June to close July with N7.5bn.
The Finance Commissioner said in August, the state also recorded N1bn as IGR while revenue from other receipts was N2bn.
He said that the total expenditure was N9.5bn which left a balance of N6bn from the N15.6bn net inflow for the month of August with recurrent and capital payments gulping N8.1bn.
Ebibai noted that the state recorded a deficit of N2.1bn in August, but the sum of N7.5bn brought forward from July ended the month (August) at N5.4bn.
