The Bayelsa State Government has announced a balance of N112.2 billion as of the end of July, which is being earmarked for major infrastructure projects across the state.
This was revealed by the Technical Adviser on Treasury and Finance, Timipre Seipulo, during the Transparency Briefing for May, June, and July.
Seipulo highlighted that the surplus funds are dedicated to several significant projects under the Prosperity Government, including the ongoing construction of the Nembe/Brass, Yenagoa/Oporoma, Akaba/Okodi, and Glory Drive III roads.
Other key initiatives include the development of the New Yenagoa City project, New House of Assembly Quarters, and New Commissioners Quarters.
Despite the substantial funds in the state’s coffers, Seipulo emphasized that the financial demands of these extensive projects give the impression that the state has limited available resources.
According to the figures presented at the briefing, Bayelsa State received a total of N170.5 billion over the three-month period, which, when combined with the N81.1 billion carried forward from April, brought the total to N251.6 billion.
Expenditures, including FAAC deductions, salaries, and bank charges, amounted to N139.4 billion.
“This is the first time in Bayelsa State’s history that we have such a significant amount in our coffers,” Seipulo stated.
“However, it is crucial to note that most of these funds are committed to long-term major capital projects. The government is focused on completing these deep-pocket projects as much as possible before the end of this administration.”
In her remarks, the state Commissioner for Information, Orientation, and Strategy, Ebiowou Koku-Obiyai, who was attending her first briefing in the position, expressed gratitude to the media for its role in reporting on government policies and programmes.
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