Gov Diri left N26.84 bn in treasury after first tenure as debt stock rises to N 129.32 bn
The Gov Douye Diri led government in Bayelsa says it is leaving N26.84 in the treasury at the end of its first tenure against the backdrop that it reportedly inherited an empty treasury on Feb 14, 2020.
The current administration which was re-elected on Nov 11, 2023 will be inaugurated for a second term of four years on Feb. 14.
The government said on Thursday that it received a total of N140 bn from the federation account for November, December 2023 and January 2024.
Mr Timipre Seipulo. Technical Adviser to the governor on Treasury and Account gave the figures to newsmen at the Treasury Building in Yenagoa.
Mr Maxwell Ebibai, Bayelsa Commissioner for Finance who also spoke to newsmen noted that the current inflationary trend in the country is putting pressure on the finances of Bayelsa.
He noted that the trend has compelled the government to review ongoing contracts which will necessitate looking beyond federal allocations into internally generated revenue sources.
Meanwhile the total domestic debt stock released by the Debt Management Office (DMO) on Dec 20, 2023 stood at N129.32 bn
Data obtained from the website of the DMO indicate that the debt is up from the N123 bn the current administration inherited on assumption of office in February 2020.
