This Day (Lagos)

29 January 2013

Nigeria: Excess Crude Account - Jonathan Approves U.S.$1 Billion to States

In what may appear to be an attempt to placate governors, who had been at daggers-drawn point with the Presidency, President Goodluck Jonathan Tuesday approved the distribution of U.S.$1billion from the Excess Crude Account (ECA) among the 36 States and the Federal Capital Territory (FCT).

This was one of the outcome of the first 2013 edition of the National Economic Council (NEC) presided over by Vice President Namadi Sambo Tuesday.

Chairman of the Nigerian Governors Forum (NGF) Rotimi Amaechi, who is also the governor of Rivers State, told State House corrrespondents that the fund was released in order to enable them embark populists projects that are in tandem with the incumbent administration's Transformation Agenda.

Ads by Google

Copyright © 2013 This Day. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.