Nigeria’s minister for finance, Dr. Mrs. Ngozi Okonjo-Iweala, has finally opened up on how the excess crude account was run.

Following accusations by the Nigeria Governors Forum, NGF last week, the supervising minister of the economy revealed that each state got a total of N2.92 trillion from the excess crude account between 2011 and 2014.

Nigeria’s finance Dr. Mrs. Ngozi Okonjo-Iweala, seems to be explaining how the money was spent.

The federal ministry of finance, via a statement on Sunday, made the figures public thus: “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) respectively got these amounts from the ECA. 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.“The summary of the inflows and outflows from the Account shows that the opening balance was $4.56 billion 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”. - See more at: http://www.exlinklodge.com/2015/05/how-we-spent-excess-crude-money-okonjo.html#sthash.lfIpA3P6.dpuf

These explanations wount save you from the wrath of the incoming government.



You have more explanations to make.

I didnt waste my time to read them tho

*modified*

comment to first the i am?

Na wa oooo

And I think b4 say na only dis woman with her fat jaw chop d money

Dis jst d beginning, U go reveal tire..........! I sit down cross my leg dy observe.

Dis Governors too chop o and na dem shout pass