Finance Ministry Explains How FG, States Shared N6.21trn From Excess Crude Account In Four Years
The federal and state governments shared a total of N 6. 21 trillion from the Excess Crude Account in the last four years.
According to a report by the Federal Ministry of Finance, yesterday, the Federal Government’s share from the ECA during the period was N3.29 trillion while the 36 states received a total of N2.92 trillion.
The figures showed that they received N966.6 billion in 2011, N816.3 billion in 2012, N859.4 billion in 2013 and N282.8 in 2014.
A statement by Mr. Paul Nwabuikwu, Special Adviser to the Mimister of Finance, Dr. Ngozi Okonjo-Iweala, said: “The low figeure 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.”
Each state’s allocation is as follows:
Akwa Ibom (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 the highest amounts from the ECA.
Others are: 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.