The Bayelsa State Government has successfully conducted its monthly transparency briefing, covering the months of May, June and July 2024.
The event which held at the Treasury Building’s Conference Hall, provided a detailed overview of the state’s income and expenditures for three months.
Addressing journalist, the commissioner for Information, Orientation and Strategy, Hon. Ebiuwou Koku-Obiyai, underscored the importance of briefings, noting that they are mandated by state law. “It is a legal obligation to hold these transparency briefings at least once every three months. This ensures that Bayelsans are fully informed about the financial status of the state, including income and expenditures,” she stated
Also speaking, the special adviser to the governor on Treasury and finance Chief Seipulou mentioned the ongoing Nembe/Brass, Yenagoa/Oporoma, Akaba/Okodi and Glory Drive III roads, New Yenagoa City project, New House of Assembly Quarters and New Commissioners Quarters as some of the key projects of the Prosperity Government.
Despite the huge funds in the state coffers, he stated that it is as if the state has nothing due to the huge financial demands of the projects.
According to figures announced during the briefing, the total funds that came into the state for the three months was N170.5 billion and when N81.1 billion, the balance brought forward from April, was added, it rose to N251.6 billion.
Total expenditure including FAAC deductions, salaries and bank charges for the three months stood at N139.4 billion, marking the first time in its history that Bayelsa State had such huge funds in its coffers.
His words, “We also note that most of these funds are actually committed to long-term major capital projects… like the roads.
“Most of them are committed to these projects to see that government completes all those projects that have commenced as much as possible before the end of this administration.”
