Bayelsa IGR Rises From N1.2bn To N5bn In 3 Months

Bayelsa State government has announced a surge in its Internally Generated Revenue (IGR), growing from N1.2 billion to over N5 billion within three months.

The commissioner for information, orientation and strategy, Mrs. Ebiuwou Koku-Obiyai, made the disclosure during the Transparency Briefing for January and February in Yenagoa yesterday.

She attributed the growth to the administration’s  policies aimed at fiscal discipline, economic expansion and improved governance.

Reaffirming the Douye Diri-led administration’s commitment to transparency and development-driven leadership, the commissioner noted that the government’s focus on impactful projects had begun yielding results.

The technical adviser to the governor on treasury and accounts, Mr. Timipre Seipulo, linked the revenue boost to an expanded tax base and implementation of the new minimum wage which had stimulated formal economic activities.

Giving a breakdown of the income and expenditure profile for the period, Seipulo said while the state closed January with a balance of N178.9 billion, it stood at N158.5 billion at the end of February this year.

He stressed that while the balance may appear huge, the funds were being expended on ongoing capital projects to ensure timely completion.