The Bayelsa State Government has announced a closing balance of N37.08 billion for May 2026, while reaffirming its commitment to completing ongoing projects and promoting transparency in public finance management.Commissioner for Information, Orientation and Strategy, Hon. Ebiuwou Koku-Obiyai, disclosed this during the state’s April-May 2026 transparency briefing held at the Treasury Building in Yenagoa.
She said the briefing was part of the administration’s accountability policy and assured residents that ongoing projects, including the Ekeremor-Agge Road, Nembe-Brass Road, the nine-storey Secretariat Building and the 25,000-capacity Olympic Stadium at Igbogene, remained priorities.
Technical Adviser to the Governor on Treasury and Accounts, Timipere Seipulou, presented the financial details, stating that Bayelsa received a gross FAAC inflow of N42.33 billion in April. The April receipts included N27.27 billion from derivation revenue, N7.48 billion statutory allocation, N6.33 billion VAT and N1.24 billion from non-oil revenue. After deductions, the state recorded a net FAAC inflow of N41.43 billion, while total receipts, including other sources, stood at N44.71 billion.
For May, Seipulou said the state received N52.81 billion gross FAAC allocation, which rose to N63.86 billion after additional receipts.He explained that May expenditure included N13.1 billion in salary-related payments, while recurrent expenditure stood at N6.98 billion and capital expenditure at N20.37 billion.
According to him, Bayelsa ended May with a surplus of N14.93 billion, which, added to the previous balance, brought the closing balance to N37.08 billion carried forward into June. On the Atala Oil Field, Seipulou clarified that the state’s equity participation would generate revenue through declared dividends rather than direct monthly payments.
