Bayelsa Assembly passes 2017 Appropriation Bill

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The Bayelsa State House of Assembly on Friday passed the state’s 2017 Appropriation Bill of N243.2 billion.

The Speaker of the House, Mr Konbowei Benson, expressed optimism that the funds would be judiciously used to improve the quality of lives of the people.

A breakdown of the 2017 Appropriation Bill showed that N191 billion was projected as revenue from statutory allocation, N6.9 billion from Value Added Tax and N15.1 billion from independent revenue sources.

The budget indicated that N8 billion was expected from grants and N21.9 billion from internal loans. Personnel costs would gulp N52.3 billion, overhead costs N41.3 billion, while consolidated revenue fund charges N61.4 billion Capital expenditure is to get N88.1 billion.

Benson urged the executive arm of government to ensure proper implementation of the budget.

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