FG, States Shared N6.21tn From ECA In 4 Years – Okonjo-Iweala

It was gathered that the Federal Government yesterday night released details of how N6.21tn was shared from the Excess Crude Account (ECA) by the federal and 36 state governments between 2011 and 2014.

The Minister of Finance, Dr. Ngozi Okonjo-Iweala, released the breakdown through a statement by her Special Adviser on Communications, Mr. Paul Nwabuikwu.

Okonjo-Iweala had last week promised to make details of the account available, following a demand by the state governors under the aegis of the Nigeria Governors’ Forum (NGF) that she should explain how she had managed the over $20bn in the ECA between June 2013 and April 2015.

But in the document issued yesterday, Okonjo-Iweala said she needed to make public the details in order to “to clarify issues thrown up by recent claims made by Governor Rotimi Amaechi of Rivers State on behalf of some governors.”

The document showed that the Federal Government received N3.29 trillion while the 36 states got N2.92trillion from the ECA within the four-year period.

It also showed that the 36 states received N966.6bn in 2011; N816.3bn in 2012; N859.4bn in 2013 and N282.8bn in 2014.

The document attributed the low figure shared in 2014 to a sharp decline in revenues due to the impact of the crash in global oil prices, which commenced in the middle of that year.

Akwa Ibom State received the highest allocation of N265 billion from the ECA while Rivers and Delta states followed with N230.4 billion and N216.7 billion respectively.

Other states with highest allocations are Bayelsa, N176.3bn; Kano, N106.5bn and Lagos, N82.9bn.

But six states: Kwara (N52.8bn), Enugu (N51.6bn), Gombe (N47.7bn), Nasarawa (N46.9bn), Ekiti (N46.8bn) and Ebonyi (N44.3bn) received the least allocations

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