PRESS STATEMENT: Federation Account Allocation Committee (FAAC) meeting for the month of May, 2017

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Dickson Governor of Bayelsa state

PRESS STATEMENT
Consistent with Government’s policy thrust on transparency, accountability and continuous engagement with the general public, be informed that Bayelsa State Government  received the total sum of N8.497Billion only as net receipts from the just concluded Federation Account Allocation Committee (FAAC) meeting for the month of May, 2017 held in Abuja. You may recall that the sum of N10.04Billion was the net receipts for the month of April, 2017.
Comparatively, FAAC receipt for the month of May represents a drop of about N1.543Billion.

When viewed against the backdrop of Government almost fixed personnel cost of N4Billion and local debts servicing obligations, a 15% dip in revenue is not only considerable but a worrisome deviation from Government
projections.

Government will continue to re-strategize on ways of creatively improving on the Internally Generated Revenue profile of the State. Also, efforts are also being directed at reducing the cost of governance through improvement in efficiency and value for money, eliminating wastages, and blocking leakages through deployment of appropriate technological solutions in government financial management systems.

We therefore call for patience and understanding from all well meaning people of Bayelsa State. We assure that Government is resolutely committed to the fulfilment of its responsibilities to the people despite the uncertain financial times.

Sign
Maxwell Ebibai
Commissioner for Finance

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