Bayelsa Govt Blames Opposition for Rumoured N19bn FAAC Allocation

  • Puts actual allocation at N7.2bn
By Emmanuel Addeh in Yenagoa
The Bayela state government on Tuesday refuted insinuations that it received about N19bn as against N7.2bn as allocation from the Federal Accounts Allocation Committee (FAAC) for the month of July, 2016.
It said it was aware that the wrong information was being carried by the opposition in the state with a view to scoring cheap political points.
It noted that the clarification had become imperative since ‘’uninformed persons’’ within and outside the state had been peddling different figures as regards the allocation received from the federal government for the month.
‘’The amount being dished out by the mischief-makers which ranges from N10 billion to N19 billon, is all aimed at giving the impression that the government now has a lot of money at its disposal to clear all outstanding salaries and pensions.
‘’While we acknowledge that there has been a sharp increase from the latest allocation as compared to previous months, especially for this year, we want to for the benefit of hindsight make public the authentic details of the amount from the various sources’’, a statement by the state commissioner for information, Mr. Jonathan Obuebite noted.
Giving a breakdown of the amount received, the state disclosed that Statutory Allocation was N2, 310,274,788.13; 2.3 percent derivation  amounted to N3, 126,869,735.56; Value Added Tax was  N609, 108,530.22 and Exchange Gain   rose to N1, 189,970,982.76, adding up to   a gross total of  N7, 236,224,036.67.