The Minister of Finance, Ngozi Okonjo-Iweala-Iweala Sunday said the 36 states of the federation, received a total of N2.92 trillion from the Excess Crude Account between 2011 and 2014. Her disclosure is in response to the accusation by the state governors that the federal government mismanaged funds in Excess Crude Account. They also claimed that states were sidelined in disbursement of the money. A statement from the Federal Ministry of Finance released Sunday night said that it had become necessary to make the figures public following recent accusations by the Rivers State governor on behalf of state governors. The statement from the federal ministry of Finance noted that the “figures show that they (states) received N966.6 billion in 2011, N816.3 billion in 2012, N859.4 billion in 2013 and N282.8 in 2014. The low figure for 2014 reflects the steep decline in revenues due to the impact of the crash in global oil prices, which began in the middle of the year. “Akwa Ibom got the highest with (N265 billion), Rivers (N230.4 billion), Delta (N216.7 billion), Bayelsa (N176.3 billion), Kano (N106.5 billion) and Lagos (N82.9 billion). “Kwara (N52.8 billion), Enugu (N51.6 billion), Gombe (N47.7 billion), Nassarawa (N46.9 billion), Ekiti (N46.8 billion) and Ebonyi (N44.3 billion) received the least amounts in that order”. It added that “the summary of the inflows and outflows from the Account shows that the opening balance was $4.56billion in 2011 and reached a peak the following year at $8.7 billion before declining to $2.3 billion in 2013. The balance as at May 2015 is $2.07 billion.” The statement explained that fluctuation in the ECA “reflects the sharing of the proceeds usually requested by state governors as well as the practice of Augmentation which involves additional sharing from the ECA when available funds are not adequate to meet revenue projections.” The ministry noted that Subsidy and SURE-P payments were also made from the Excess Crude Account while the Federal Government’s share from the ECA during the period was N3.29 trillion.
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Posted: at 25-05-2015 10:07 AM (8 years ago) | Addicted Hero
Mr. Fasola what do you have to say. Is this figure also debateble. All of Una wey use Una state money run election must vomit am before leaving office oooo.
Posted: at 25-05-2015 03:32 PM (8 years ago) | Upcoming
The figure is true. All the governors are criminals. Rotimi Amechi receives 230 billion,and he was the first to accused jona. Nigeria leaders are very greedy,and they will end up in hell. The are greedy more than judas in the bible that sold Jesus. The are selling us.
Posted: at 26-05-2015 02:24 AM (8 years ago) | Upcoming
Deepsea81 at 26-05-2015 05:15 AM (8 years ago) (m)
Lol make we wait this animals make them come out make noise say them no receive the money as she publish it out, she has been protecting the fools especially that animal Amechi and him no use him brain hide himself them want to put their blame on jona so they will look innocent but, God catch them. Mr. Change Fashola we want to hear your own side of the story oo,
Posted: at 26-05-2015 05:15 AM (8 years ago) | Upcoming
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