Paul Nwabuikwu, her special adviser on communications, released a statement late Sunday, revealing that the federal and state governments shared a total of N6. 21 trillion from the ECA between 2011 and 2015.
A breakdown of the sum collected by the state governments were N966.6 billion in 2011, N816.3 billion in 2012, N859.4 billion in 2013 and N282.8 billion in 2014. Okonjo-Iweala had promised to disclose ECA details after the Nigerian governors forum (NGF) alleged that $20 billion being accruals of the excess crude account (ECA) from May 2013 till April 2015, was unaccounted for.
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NOI: Governors got
N2.92tr from ECA in 4 years
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NOI: Governors got N2.92tr from ECA in 4 years
May 25
07:58
2015
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👤by Taiwo George
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Five days after Ngozi Okonjo-Iweala, minister of finance and
coordinating minister of the economy, promised that the ministry would
publish details of the excess crude account (ECA) for the last four
years, the information has been made public.
Paul Nwabuikwu, her special adviser on communications, released a
statement late Sunday, revealing that the federal and state governments
shared a total of N6. 21 trillion from the ECA between 2011 and 2015.
A breakdown of the sum collected by the state governments were N966.6
billion in 2011, N816.3 billion in 2012, N859.4 billion in 2013 and
N282.8 billion in 2014.
Okonjo-Iweala had promised to disclose ECA details after the Nigerian
governors forum (NGF) alleged that $20 billion being accruals of the
excess crude account (ECA) from May 2013 till April 2015, was
unaccounted for.
The minister dismissed the allegation, asking the governors to consult
their commissioners of finance if they needed clarification.
“The statement by the governors is totally strange because Federal
Accounts Allocation Committee (FAAC), meets every month and the ECA is
discussed at every session with all the state commissioners of finance
present,” she had said.
“Nothing is hidden. At these meetings, the minister of state, who is the
chairman of FAAC, announces the balance in the ECA which is then
discussed. Governors who want any information about the ECA should ask
for details from their commissioners who should have the records of what
was discussed and agreed upon.”
From the figures released, five states, including Akwa Ibom, Rivers,
Delta, Bayelsa, Kano and Lagos top the list of highest recipients with
N265 billion, N230.4 billion, N216.7 billion, N176.3 billion, N106.5
billion and N82.9 billion, respectively.
While Kwara, Enugu, Gombe, Nassarawa, Ekiti and Ebonyi states received
the lowest allocations of N52.8 billion, N51.6 billion, N47.7 billion,
N46.9 billion, N46.8 billion and N44.3 billion respectively.
The balance of the ECA as at May 2015 was put at $2.07 billion.
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 fluctuation was attributed to 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 were also made from
the account.
Below is a breakdown of the allocations.
S/N STATE
Read more at: http://www.thecable.ng
Read more at: http://www.thecable.ng
NOI: Governors got
N2.92tr from ECA in 4 years
⌂Back To Homepage
Subscribe To RSS Feed
NOI: Governors got N2.92tr from ECA in 4 years
May 25
07:58
2015
Print This Article
Share it With Friends
👤by Taiwo George
0 Comments
Five days after Ngozi Okonjo-Iweala, minister of finance and
coordinating minister of the economy, promised that the ministry would
publish details of the excess crude account (ECA) for the last four
years, the information has been made public.
Paul Nwabuikwu, her special adviser on communications, released a
statement late Sunday, revealing that the federal and state governments
shared a total of N6. 21 trillion from the ECA between 2011 and 2015.
A breakdown of the sum collected by the state governments were N966.6
billion in 2011, N816.3 billion in 2012, N859.4 billion in 2013 and
N282.8 billion in 2014.
Okonjo-Iweala had promised to disclose ECA details after the Nigerian
governors forum (NGF) alleged that $20 billion being accruals of the
excess crude account (ECA) from May 2013 till April 2015, was
unaccounted for.
The minister dismissed the allegation, asking the governors to consult
their commissioners of finance if they needed clarification.
“The statement by the governors is totally strange because Federal
Accounts Allocation Committee (FAAC), meets every month and the ECA is
discussed at every session with all the state commissioners of finance
present,” she had said.
“Nothing is hidden. At these meetings, the minister of state, who is the
chairman of FAAC, announces the balance in the ECA which is then
discussed. Governors who want any information about the ECA should ask
for details from their commissioners who should have the records of what
was discussed and agreed upon.”
From the figures released, five states, including Akwa Ibom, Rivers,
Delta, Bayelsa, Kano and Lagos top the list of highest recipients with
N265 billion, N230.4 billion, N216.7 billion, N176.3 billion, N106.5
billion and N82.9 billion, respectively.
While Kwara, Enugu, Gombe, Nassarawa, Ekiti and Ebonyi states received
the lowest allocations of N52.8 billion, N51.6 billion, N47.7 billion,
N46.9 billion, N46.8 billion and N44.3 billion respectively.
The balance of the ECA as at May 2015 was put at $2.07 billion.
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 fluctuation was attributed to 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 were also made from
the account.
Below is a breakdown of the allocations.
S/N STATE
Read more at: http://www.thecable.ng
Read more at: http://www.thecable.ng
NOI: Governors got
N2.92tr from ECA in 4 years
⌂Back To Homepage
Subscribe To RSS Feed
NOI: Governors got N2.92tr from ECA in 4 years
May 25
07:58
2015
Print This Article
Share it With Friends
👤by Taiwo George
0 Comments
Five days after Ngozi Okonjo-Iweala, minister of finance and
coordinating minister of the economy, promised that the ministry would
publish details of the excess crude account (ECA) for the last four
years, the information has been made public.
Paul Nwabuikwu, her special adviser on communications, released a
statement late Sunday, revealing that the federal and state governments
shared a total of N6. 21 trillion from the ECA between 2011 and 2015.
A breakdown of the sum collected by the state governments were N966.6
billion in 2011, N816.3 billion in 2012, N859.4 billion in 2013 and
N282.8 billion in 2014.
Okonjo-Iweala had promised to disclose ECA details after the Nigerian
governors forum (NGF) alleged that $20 billion being accruals of the
excess crude account (ECA) from May 2013 till April 2015, was
unaccounted for.
The minister dismissed the allegation, asking the governors to consult
their commissioners of finance if they needed clarification.
“The statement by the governors is totally strange because Federal
Accounts Allocation Committee (FAAC), meets every month and the ECA is
discussed at every session with all the state commissioners of finance
present,” she had said.
“Nothing is hidden. At these meetings, the minister of state, who is the
chairman of FAAC, announces the balance in the ECA which is then
discussed. Governors who want any information about the ECA should ask
for details from their commissioners who should have the records of what
was discussed and agreed upon.”
From the figures released, five states, including Akwa Ibom, Rivers,
Delta, Bayelsa, Kano and Lagos top the list of highest recipients with
N265 billion, N230.4 billion, N216.7 billion, N176.3 billion, N106.5
billion and N82.9 billion, respectively.
While Kwara, Enugu, Gombe, Nassarawa, Ekiti and Ebonyi states received
the lowest allocations of N52.8 billion, N51.6 billion, N47.7 billion,
N46.9 billion, N46.8 billion and N44.3 billion respectively.
The balance of the ECA as at May 2015 was put at $2.07 billion.
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 fluctuation was attributed to 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 were also made from
the account.
Below is a breakdown of the allocations.
Read more at: http://www.thecable.ng
Read more at: http://www.thecable.ng
NOI: Governors got
N2.92tr from ECA in 4 years
⌂Back To Homepage
Subscribe To RSS Feed
NOI: Governors got N2.92tr from ECA in 4 years
May 25
07:58
2015
Print This Article
Share it With Friends
👤by Taiwo George
0 Comments
Five days after Ngozi Okonjo-Iweala, minister of finance and
coordinating minister of the economy, promised that the ministry would
publish details of the excess crude account (ECA) for the last four
years, the information has been made public.
Paul Nwabuikwu, her special adviser on communications, released a
statement late Sunday, revealing that the federal and state governments
shared a total of N6. 21 trillion from the ECA between 2011 and 2015.
A breakdown of the sum collected by the state governments were N966.6
billion in 2011, N816.3 billion in 2012, N859.4 billion in 2013 and
N282.8 billion in 2014.
Okonjo-Iweala had promised to disclose ECA details after the Nigerian
governors forum (NGF) alleged that $20 billion being accruals of the
excess crude account (ECA) from May 2013 till April 2015, was
unaccounted for.
The minister dismissed the allegation, asking the governors to consult
their commissioners of finance if they needed clarification.
“The statement by the governors is totally strange because Federal
Accounts Allocation Committee (FAAC), meets every month and the ECA is
discussed at every session with all the state commissioners of finance
present,” she had said.
“Nothing is hidden. At these meetings, the minister of state, who is the
chairman of FAAC, announces the balance in the ECA which is then
discussed. Governors who want any information about the ECA should ask
for details from their commissioners who should have the records of what
was discussed and agreed upon.”
From the figures released, five states, including Akwa Ibom, Rivers,
Delta, Bayelsa, Kano and Lagos top the list of highest recipients with
N265 billion, N230.4 billion, N216.7 billion, N176.3 billion, N106.5
billion and N82.9 billion, respectively.
While Kwara, Enugu, Gombe, Nassarawa, Ekiti and Ebonyi states received
the lowest allocations of N52.8 billion, N51.6 billion, N47.7 billion,
N46.9 billion, N46.8 billion and N44.3 billion respectively.
The balance of the ECA as at May 2015 was put at $2.07 billion.
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 fluctuation was attributed to 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 were also made from
the account.
Below is a breakdown of the allocations.
Read more at: http://www.thecable.ng
Read more at: http://www.thecable.ng
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