Bayelsa Business News

‘Bayelsa IGR hits N1.3bn in September’

The Bayelsa Government has recorded N1.3 billion as Internally Generated Revenue (IGR) in September, the Deputy Governor, retired Rear Adm. John Jonah, said on Friday.

Breaking the financial statement for September in Yenagoa, Jonah said the state had realised about N1.3 as IGR in August.

It can be recalled that Bayelsa had collected N868.58 million in the previous month.

The deputy governor attributed the increase to tax reforms which hiked tax drive on oil firms operating in the state.

He noted that the state Board of Internal Revenue was compelled to approach the courts to seal some companies that defaulted in paying their taxes.

Jonah said that the development had also increased the cost of collecting the huge revenue to N88 million.

On the revenue accrued to state from Federation Account for September, the deputy governor said Bayelsa had received N12.1 billion as against N9.94 billion in August.

Jonah said total deductions in September amounted to N1.8 billion as against the N1.7 billion deducted in August, leaving the state with a net inflow of N8.28 billion.

He said that the wage bill of the state for August salary captured in September’s statement stood at N3.7 billion for civil servants while N298 million was spent on the emoluments of political appointees.


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