STATE governors on Thursday
approved the release of $1billion
from the country’s excess crude oil
account to the federal government to
help fight Boko Haram insurgency
in the North-East.
The account holds foreign
reserves from excess earnings from
sales of crude and currently totals
$2.3billion.
According to Edo State governor,
Godwin Obaseki who briefed State House reporters at the end of the National Economic Council, NEC,
meeting yesterday in Abuja, “We are pleased with the federal government
achievements in the insurgency war and in that vein, state governors have
approved that the sum of $1billion be taken from the excess crude account by
the federal government to fight the insurgency war to its conclusion.
“The money will cover the whole array of needs which includes purchase
of equipment, training for military personnel and logistics,” he said.
Obaseki said the decision was taken at the 83rd meeting of the National
Economic Council which held inside the council chamber of the Presidential
Villa Abuja and chaired by the Vice President, Prof. Yemi Osinbajo.
He explained that “the approval was announced during the NEC meeting
by the chairman of Nigeria Governors Forum, NGF, and governor of Zamfara
State, Abdulaziz Yari.”
Earlier, governor of Gombe State, Ibrahim Hassan Dankwambo put the
balance of the Excess Crude Account at $2.317billion as at December 13, 2017. He said “the 83rd meeting of
NEC which coincided with the
10th meeting in 2017 some of
the issues that were considered
included the taking of update
from the forensic audit of revenue
that accrued into the federation
account up to 2015 and as a
follow up to that report that was
submitted last month, council
was informed that KPMG is
still conducting the audit of the
Nigerian customs service and
the Nigerian Communications
Commission hopefully by
January 2018 these audit will be
concluded and reports will be
submitted to the council.”
Dankwambo continued:
“Council was also informed
by the Accountant General
of the Federation that the
balance in the Natural Resource
Development Fund Account as
at 13th December 2017 stands at
N106.984billion. The accountant
general of the federation also
informed council that the balance
in the Excess Crude Account as
at 13th December 2017 stands
at $2.317billion dollars. Update
of the current balance of the
stabilisation fund account was
also reported by the Accountant
General of the Federation which
as at 13th of December 2017
stands at N7.78billion.
“Update on budget support
facility loan granted to states was
also reported to council and that
for the month of June, July and
August, states have been paid and
the Federal Ministry of Finance
is working on the payment of
the month of September budget
support.
“The minister of finance
informed council that the
budget support facility to
states is also based on certain
conditions as agreed under the
fiscal responsibility plan, but
she complained that most states
are yet to comply and added
that noncompliance will make
her ministry stop any further
to be given to states that do not
comply.”
The insurgency in the North-
East is in its ninth year, with
deadly attacks on the military
and civilians continuing and large
areas out of government control.
The United Nations appealed
to donors for $1.05 billion to fund
humanitarian aid in the northeast
in 2017, and says it will require
another $1.1 billion in 2018.
According to respected
news agency, Reuters, military
officials, speaking on condition of
anonymity, have said troops are
undersupplied and underpaid,
with weapons, vehicles and
other basic equipment often in
disrepair or lacking. Some have
alleged their own officers are
skimming from already meagre
supplies.
The release of the funds
is a further sign the federal
government and military may
be abandoning their two-year
narrative that Boko Haram has
been all but defeated.

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  • vic

    ROGUES AND THIEVES LOOTING NIGERIAN COMMONWEALTH IN THE SAME STYLE AS CLUELESS JONATHAN WHO STOLE BILLIONS OF DOLLARS ASSIGNED TO FIGHT BOKO HARAM.

    BUHARI IS A BIGGER LOOTER THAN JONATHAN.