The Bayelsa State Government has acknowledged the receipt of N27.5b as part of Federal Government’s refund for projects it earlier executed, explaining that it only received N27.5b from the Federal Government and not N38b as widely speculated.
Governor Douye Diri stated this during the monthly Transparency Initiative briefing for November and December 2020.
Diri, who was represented by his Technical Adviser on Treasury and Accounts, Timipre Seipulo, explained that the Federal Government structured the refund process such that states would have to wait for between four and five years before they could access the full refund.
He explained that for states that want their refunds, the full amount has to be discounted, and as such the N27b government announced represented the discounted amount from the N38b.
“Actually, Federal Government’s arrangement is such that states have to wait for three to four years to get refunded, otherwise the full amount is discounted at current rate.
“And considering the some factors and time value for money, you have to discount your fund and collect your money, otherwise you wait for four years to collect it. So, the N27b represents the discounted amount, which the state received from the Federal Government,” he said.
While giving a breakdown of income and expenditure for November and December, he said the refund and other money accruing to the state had spurred the government to commence works on rehabilitation of critical infrastructure in the state.
Commissioner for Works and Infrastructure, Moses Teibowei, restated Governor Diri’s commitment to the completion of all abandoned road projects in the state.
He stated this when he and his Information, Orientation and Strategy, counterpart, Ayibaina Duba, inspected some road projects for which the state government had mobilised contractors to site.
Some of the projects are, expansion of the Tombia-Etegwe Roundabout, failed portion of Opokuma Road, the Yenagoa-Oporoma Expressway, maintenance of the Alamieyeseigha Road and other internal roads in Yenagoa.
On the Tombia Roundabout expansion, Teibowei explained that as part of efforts build a befitting city, the state government took over and beautify it.
“We mobilised various contractors to sites about a week and some two weeks ago and you can see that one of the companies that was mobilised last week has commenced work.
“Work is already on progress on the Tombia Roundabout, the Commissioners Quarters and the failed portion of the Opokuma Road being handled by the Ministry of Works,” he stated.
Also speaking, Duba said the Bayelsa Central Senatorial road will reach Aguobiri and advance to Angiama in Southern Ijaw Council, stressing that Governor Diri was committed to his promise to connect all the senatorial district roads to Yenagoa for the benefit of all Bayelsa people.
