By John Ovie, YENAGOA
The Bayelsa State Government says it has successfully offset a restructured commercial bank loan taken about ten years ago by the previous administration of former governor, Seriake Dickson.
This was disclosed during the state’s monthly transparency briefing by the Accountant General of the state, Tokoni Ifidi, at the Treasury Building in Yenagoa.
The account general explained that during the 2016 financial crunch, which made it difficult for the state to meet most of its obligations, including difficulty in paying workers’ salaries, the previous government took a 10-year facility loan which has now been fully repaid the current administration.
Meanwhile, the Commissioner for Information, Orientation and Strategy, Hon. Ebiuwou Koku-Obiyai, appealed to Bayelsans to remain calm over concerns regarding the gas turbine and assured that government was working assiduously to ensure the project benefits all residents.
Reeling out the income and expenditure for January, February and March, 2026 the Technical Adviser to the Governor of Tresury and Accounts, Timipre Seipulo said the month of January 2026 total gross inflow from the federation account, was 36.9-1 billion-naira, statutory allocation was 616 million naira, deductions at Federation Account Allocation Committee, FAAC, was 1 billion naira while total receipts after FAAC stood at 44billion naira with salary related expenditures amounting to 12billion naira.
For February 2026, he said FAAC inflow was 40 billion-naira, 1.5-9 billion-naira for FAAC deductions, IGR as 3.5-3bilion naira and 20.9-4billion naira was the amount for total payments made, exclusion of recurrent and capital payments which were 5.9-8 billion-naira and 24.3-5 billion-naira respectively.
Our correspondent eports that with 40 billion-naira announced as FAAC inflow, salary related payments for the month of March stood at 13 billion-naira while recurrent and capital payments summed 30.3-4 billion-naira, resulting in a 1.8 billion-naira deficit but with the balance brought forward from February, the state account closes at 56 billion-naira as at March 2026.
