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Sam Hart: Ikpeazu Has Given Abia a Facelift
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Govs Insistence Threatens Resolution of Judicial, Parliamentary Workers Strike
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Published 28 April 2021
Why do Nigerian governments, federal, state or municipal, make it look as if a broke government is the same as a broke economy or lean Gross Domestic Product? Whatever its size may be, government spending is still a part of the economy.
That is why Nigeria’s 2021 Budget is N13.6 trillion, whereas projected 2021 GDP is $466.88 billion or N177. 47 trillion, if you go by official dollar exchange rate, or N226.44 trillion, if you choose the parallel market rate. The difference, obviously, is clear!
No doubt, government spending, through salaries of public servants, contractors’ fees and spending of what has been corruptly diverted to private purses, affects the economy or the GDP. The reverse is also true; the economy affects government.
Bayelsa: We won t retrench workforce amid dwindling revenues – official
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The Commissioner for Finance, Mr
Maxwell Ebibai, gave the assurance at the transparency briefing for the months of January and February 2021, in Yenagoa, the state capital.
News Agency of Nigeria (NAN) reports that under the state’s Bayelsa Transparency Law, it had become mandatory for the government to make public its income and expenditures on a monthly basis.
Ebibai, said the state government received N6.8 billion for February, 2021, as net receipts from the Federation Account, after first line deductions, as against the huge wage bill and other recurrent expenditures of N7.358 billion.
He noted that the cost of running government had become highly challenging, as the state was contending with dwindling federal revenues, coupled with low internally generated revenue.