IGR: Bayelsa generates N1.8bn in September

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Bayelsa Government on Thursday said it had spent N148.38 million in generating N1.86 billion in September.

The state Deputy Governor, retired Rear Adm. John Jonah, told newsmen that the amount was the highest Internally Generated Revenue (IGR) recorded in the state history.

The News Agency of Nigeria (NAN) reports that the state government also spent N88 million to collect N1.3 billion in August.

He explained that the state government was compelled to drag the oil firms operating in the state to court before they were made paid their taxes.

Jonah said that the development was responsible for the huge cost of collecting the internally generated revenue.

The state recorded an increase of N554 million in September from the N1.3 billion generated in August, according to the deputy governor.

Jonah said the state received N10.72 billion as net inflow from the Federation Account for October after N1.721 billion was deducted at source from a gross inflow of N11.793 billion.

He said that after expenditures, the government had a total balance of N2.893 billion in its coffers as at October 31.

The deputy governor said the recurrent payment was standing at N2.338 billion, capital payment N4.450 billion, civil servants’ salaries N3.7 billion and political appointees N258.74 million. (NAN)