BY PHILIP EKE, YENAGOA

The Bayelsa State Government has appealed to the Federal Government

for an extension of the moratorium on the deduction of loans and other

financial obligations, owed by various state governments.

The State Deputy Governor, Retired Rear Admiral Gboribiogha John

Jonah, who made the appeal in Government House, Yenagoa, said the

extension would enable the state governments to stabilize and tackle

the issue of payment of workers salaries.

Lamenting the steady decline in the revenues from the Federation

Accounts Allocation Committee, FAAC, he disclosed that, contrary to

expectations, the state government received only N2.4 billion for the

month of March, despite the federal government’s declaration

restraining FAAC from deducting loans.

The Deputy Governor, however explained that, the federal government

moratorium does not affect other financial obligations, such as bond

which deductions brought the net inflow of the state to about N1.1

billion even without the payment of salaries and overhead.

He said the state is in a dire financial difficulty, noting that, the

state government would continue to interface with organized labour to

proffer solutions to the problem of salary payment.

For the month of February, the Deputy Governor declared a gross of

N6.3 billion comprising statutory allocation of N1.6 billion,

derivation N3.7 billion, VAT N594m, exchange differentials N77.6

million.

Out of this amount, he said a total of N3.04 billion was deducted at

source made up of bond deductions N1.2 billion, federal government

restructured loan N741 million, three sets of deductions for

overpayment about N749 million, commercial agriculture loan scheme one

and two N162 million and repayment of Ekanga oil field N131million.

According to him, the total funds available for the month was N3.8

billion, which comprises net inflow to N2.9 billion and IGR for

January N397 million.

On outflows, Rear Admiral Jonah  said the state repaid a loan of N2.8

billion it obtained from banks to augment salary payment last year.