Isaac Ombe, Yenagoa
The Bayelsa State Government has accused the Federal Government of mortgaging the commonwealth of the people.
The state government also alleged As that the Federal Government has not bothered to engage the people on how their common wealth is used.
Mr. Maxwell Ebibai, the Commissioner for Fiance, in the state, made the remark, on Monday, at the last transparency briefing of the administration’s first tenure which ends February 14th, 2024.
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Ebibai who was flanked by the Commissioner for Information and Strategy and other top members of the finance ministry bemoaned the federal government for transacting business with the people’s common wealth without explaining how and.why it is being used.
According to him, even though the federal government is the custodian or trustee of the peoples commonwealth it behoves on the authorities concerned to engage the people.
He noted that currently there are a number of transactions involving the crude oil being used to swap or dollar swapping which the people do not know how government is going about it because no any form of engagement in this regard.
“It is a bit funny that the Federal Government is mortgaging the Commonwealth of everybody.
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“As much as they are the custodians or trustees on behalf of other parties, there is no engagement of the other parties to say this is our common wealth , this is what we are doing with it. This is how it is going to come.
“That engagement has not taken place, and for those of us who know what we should do …..If you are using our crude oil or swapping or dollar swapping with it, what is Bayelsa share.
According to him , “a number of crude oil related accounts…. ..that is what we are going to do and we are already doing”.
The Finance commissioner also informed that the with prevailing economic harsh economic realities , the state government is doing everything possible to recover every debt from all sources , no.matter how minute it would be ,as it’s focus would especially be on the Federal Government.
“As a government, we are feeling the huge impact of inflation in our society, currency fluctuation and other government policies especially at the Federal level.
“Well, when times gets tough people must device means to survive legitimately.
“For your government and those of us in finance , we are focused on , at this point , on ensuring that every single penny that is being owed the state is recovered.
“The government is focused on that .We still encourage citizens to pay their taxes but we need to look outside ….and we are particularly focused on the federal government to ensure that issues like condencent sales , where is our money, we want our 13% derivation,, Signature bonus , crude oil swap that is currently going on” added the finance commissioner.
He however assured Bayelsans of government’s determination to live up its responsibility but some projects would be reviewed to meet up with the current economic realities..l
“So be assured that as difficult as it is we clearly see that there will be adjustment in some.prpject cost because some of these projects were awarded when prices were low, now prices are high.
“Now there will be pressure on government. However, government is up to the task of meeting it’s responsibilities. Be assured that the 2024 budget will be fully implemented”.
