FG, Sates Share 391b From Excess Crude Account

The federal government and
the 36 states have agreed to
share $1.7billion of the
$2billion balance in the
Excess Crude Account.
After the amount, which is
about N391billion,is shared,
there will be just about
$.3billion remaining in the
account which was created to
help the two tiers of
government save for raining
The Edo state governor,
Adams Oshiomole, had told
journalists after the National
Economic Council (NEC)
meeting, last week Tuesday,
that following a spate of
curious withdrawals from the
account by the last
administration, only
$2billion was left in the
President Muhammadu
Buhari had recently raised a
committee to explore the
possibility of sharing revenue
from the account after state
governments, some of whom
are owing months of salaries
to the workers, approached
him for bailout.

About The Street Reporters