Okonjo-Iweala clarified that an aggregate entirety of N6.21 trillion from the ECA was shared between the individual governments.

Finance Minister, Ngozi Okonjo-Iweala has explained how funds from the Excess Crude Account (ECA) were shared by the Federal and State governments between 2011 and 2014.

Okonjo-Iweala explained that a total sum of N6.21 trillion from the ECA was shared between the respective governments.

She disclosed this via a statement released on Sunday, May 24, 2015, by her Special Adviser on Communications, Paul Nwabuikwu.

The breakdown shows that the Federal Government received the sum of N3.29tn, while the 36 states got a total of N2.92tn from the ECA within the four-year period.

The minister had promised to disclose the details of accrual into and disbursement from the ECA after the Nigerian Governors’ Forum (NGF) led by Rivers State Governor, Rotimi Amaechi alleged that the sum of $20 billion had gone missing from the...
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