Nigeria: Govs Call for Withdrawal of U.S.$2 Billion From Excess Crude Account

20 November 2014

Abuja--For the fourth month running, statutory revenue available for distribution between the three tiers of government dropped as the total revenue for October stood at N593.34 billion. The amount is about N10.192 billion lower than the N603.529 billion shared in September.

This is just as governors of the 36 states of the federation called for the withdrawal of $2 billion, or about N320 billion from Nigeria's $4.11 billion Excess Crude Account to be used for the completion of projects and for provision of security across the country ahead of the 2015 general elections.

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