Bayelsa State Governor, Hon. Seriake Dickson has given a dramatic account of how his administration grew a paltry N4, 451 inherited from his predecessor in February 2012 to over N16bn.
The governor also spoke of the challenge posed by the N50bn bond his predecessor secure, which was set to hit N104bn in 2017.
Presenting his administration’s financial scorecard for December in Abuja, Dickson disclosed that the state’s Internally Generated Revenue (IGR) would hit the N2bn monthly mark by the end of this year, up from about N300m it was when he assumed office.
Represented by Commissioner for Finance, Hon. Duate Iyabi, Dickson explained that 2013 has been dedicated to consolidation of the gains of the preceding year, and promised that ongoing projects would be completed.
According to the finance commissioner, N1.5bn was drawn from the state’s savings to assist people who were displaced during last year’s flood. He noted, however, that despite the devastating effects of the flood, the state still achieved an impressive 85 per cent implementation of the capital expenditure content of 2012 budget.
He decried the N50bn bond and another N16bn bank loan obtained by former Governor Timipre Sylva, noting that the processes were abused.
Hon. Iyabi disclosed that IGR consultants have been engaged by Government to shore up the monthly Internally Generated Revenue (IGR) from the N518 realised in November 2012 to about N2bn from the end of the current fiscal year.
He described as unacceptable a situation where 97 per cent of the state’s revenue comes from the federal allocation, stressing that the only way to guarantee a better and safer future for the state is to reverse the trend.
The governor also promised to continue giving priority to education, healthcare delivery, agriculture and tourism,in a bid to transform Bayelsa to one of the most developed states in the country.
