₦airaland Forum

Keeping to her promise to disclose what the states got from the Excess Crude Account, 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 account between 2011 and 2014.

A statement from the Federal Ministry of Finance released Sunday night said the 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) 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 statement added that “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.”

The fluctuation in the ECA the statement explained “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 are also made from the Excess Crude Account while the Federal Government’s share from the ECA during the period was N3.29 trillion.

sunnydayasaba:
If only the 8th assembly can pass d FOI bill...Nigerians deserves to know how much their state govt get as federal allocation monthly and how its spent, including contractors who execute govt contracts and how much is paid in phases.


Accountability is what we need to move dis country forward

neutrotoba:
Dem don dey confess


I expect drama on the eve of handing over day!

Madueke will cry in public

Jonathan will talk more trash

PEJ will once again pledge her support to Aisha Buhari like she didn't hear the fitst time
"
Doyin Okupe and FFK will "travel" just in case the word "flee" will be censored by moderators.

Nigerians will smile

Baba will sai

Trailblazer1:
Did you read the post or you just want to comment

kodded:
Kano (N106.5 billion)

HOW ? ........... WHY ?

NAIJASOM:
WHAT DOES kANO CONTRIBUTE TO DESERVE SUCH AMOUNT? AT LEAST WITH THE OIL PRODUCING STATES I UNDERSTAND BUT WITH KANO, IT JUST DOESNT MAKE SENSE.

Trailblazer1:
I laugh when I see under-aged dullards who didn't even pass Economics in WASSC turn economic experts to insult this woman on Nairaland.

emiye:
but, that bayelsa, what does the governor do with all that money, a state with freaking 8 local govts, and smallest population, yet no tangible devtal. projects.??

bogolobango:
tell us how uncle jona has transformed ur life cos am sick nd tired of dis ur noise "fake change"

Oponu