The Bayelsa State Government has presented its income and expenditure profile for the months of August and September, 2026, announcing a closing balance of N59.417 billion.
The presentation was made during the monthly Transparency Briefing held at the Treasury Building, Yenagoa.
Speaking at the briefing, the Commissioner for Information, Orientation and Strategy, Hon. Ebiuwou Koku-Obiyai, said the exercise goes beyond routine event, noting that it is in fulfilment of the covenant of the Governor Douye Diri-led ASSURED Prosperity Administration to render regular account of public funds to Bayelsans.
She said the administration remains committed to people-oriented development, listing ongoing signature projects to include the 9-storey secretariat complex, the Glory Drive, the Nembe-Brass Road, the State House of Assembly Complex, the FIFA-standard stadium at Igbogene, the Angiama-Enewari Road, community development projects, as well as sustained implementation of welfare-related allowances and prompt payment of salaries and pensions.
The Commissioner dismissed social media reports alleging that a section of the Nembe-Brass Road had been cut into two, describing the report as misleading and urged journalists to undertake on-the-spot assessment to ascertain the true state of the road.
Giving a detailed breakdown of the finances, the Technical Adviser to the Governor on Treasury, Accounts and Revenue, Mr. Timipre Seipulou, disclosed that total FAAC inflow for August stood at N79.207 billion, comprising N12.73 billion statutory allocation, N50.14 billion derivation and N60.36 billion Value Added Tax.
According to him, total FAAC deductions for the month amounted to N993.29 million, including N288.435 million for foreign loans and federal government recovery and N128.36 million for restructured refund on overpayment of FAAC derivation indices, leaving a net FAAC receipt of N78.214 billion.
He further explained that other receipts, including N3.39 billion Internally Generated Revenue for July reported in August, N7 billion Infrastructure Development Fund and N9.76 billion refund from Excess Crude, brought total receipts for August to N99.250 billion.
On expenditure, Seipulou said the state spent N5.32 billion on bank loan repayments, N2.06 billion as grants to tertiary institutions, N7.8 billion on civil servants salaries and N1.99 billion on political appointees among other items, amounting to N19.95 billion, while recurrent expenditure was N7.56 billion and capital payments N78.73 billion, totalling N86.293 billion.
For September, he said gross FAAC inflow was N56.639 billion, comprising N8.66 billion statutory allocation, N39.32 billion derivation and N8.7 billion VAT, with total deductions of N882.485 million, including N287.43 million for foreign loans and federal government recovery and N232.93 million for ecological fund, leaving a net receipt of N55.757 billion.
He added that other receipts of N28.314 billion, which include N7 billion Infrastructure Development Fund, N4.15 billion SABER, N3 billion State Security Fund and N3.056 billion NNPC Management Fees, brought total available funds to N84.7 billion.
On outflows, the state spent N20.35 billion on bank loan repayments, salary-related items and special allowances, including N5.73 billion for bank loans, N13.2 billion for special allowances and N613 million as 5 percent contribution to Students Loan Board, Bayelsa Health Insurance Scheme and Education Trust Fund.
Seipulou stated that after deductions, the state had N63.720 billion before capital expenditure of N28.36 billion and recurrent payment of N7.26 billion, amounting to N35.628 billion, adding that balance after payments was N28.91 billion which, together with balance brought forward from August, left a closing balance of N59.417 billion.
