The Rivers State Governor, Rotimi Amaechi, has announced that President Goodluck Jonathan has approved the sharing of $1bn from the controversial Excess Crude Account among the 36 states of the federation and the Federal Capital Territory.
Amaechi who disclosed this at the end of the 45th meeting of the National Economic Council (NEC) which took place in Abuja on Tuesday, said the President approved the sharing of the money to enable the state governments execute more people-oriented projects in line with his administration’s transformation agenda.
“The Minister of State for Finance, Dr. Yerima Ngama, briefed the council on the state of the Excess Crude Account, which he said has a total balance of $9.242bn, after $1bn was spent on subsidy payments.
“He also informed the council that the President, Dr. Goodluck Jonathan, has approved the distribution of among the 36 states and FCT to enable them execute more people-oriented projects in line with the government’s transformation agenda and the need to deliver more democracy dividends” he said.
Leave a Reply