Bayelsa State Government has announced that it is investing N154 million to increase the state’s Internally Generated Revenue (IGR) through the Board of Internal Revenue.
The Technical Assistant on Treasury, Accounts and Revenue to Governor Douye Diri, Mr Timipre Seipulou, disclosed this during the government’s second transparency briefing in Yenagoa. The Board of Internal Revenue will use the funds to run administrative costs, pay revenue generating consultants, and embark on programs that attract investors to the state.
The fund will also help ensure the sustenance of the board’s autonomy, as they won’t have to run to the government to approve funds for them to accomplish their task every month. The government will continue to pay subvention to tertiary institutions in the state. The monthly subvention has recently increased because the government paid some arrears and gratuities that have been in the pipeline.
The government is also undertaking capital-intensive projects such as the three senatorial roads, AIT/ Elebele road, Nembe Brass road, and some internal roads. The Bayelsa State Government’s investment in enhancing its IGR profile is a positive step towards achieving financial independence.
