Wednesday, May 15, 2019

NOI: Governors got N2.92tr from ECA in 4 years

NOI: Governors got N2.92tr from ECA in 4 years
May 25
07:58 2015

Five days after Ngozi Okonjo-Iweala, minister of finance and coordinating minister of the economy, promised that the ministry would publish details of the excess crude account (ECA) for the last four years, the information has been made public.

Paul Nwabuikwu, her special adviser on communications, released a statement late Sunday, revealing that the federal and state governments shared a total of  N6. 21 trillion from the ECA between 2011 and 2015.

A breakdown of the sum collected by the state governments were N966.6 billion in 2011, N816.3 billion in 2012, N859.4 billion in 2013 and N282.8 billion in 2014.

Okonjo-Iweala had promised to disclose ECA details after the Nigerian governors forum (NGF) alleged that $20 billion being accruals of the excess crude account (ECA) from May 2013 till April 2015, was unaccounted for.

The minister dismissed the allegation, asking the governors to consult their commissioners of finance if they needed clarification.

“The statement by the governors is totally strange because Federal Accounts Allocation Committee (FAAC), meets every month and the ECA is discussed at every session with all the state commissioners of finance present,” she had said.

“Nothing is hidden. At these meetings, the minister of state, who is the chairman of FAAC, announces the balance in the ECA which is then discussed. Governors who want any information about the ECA should ask for details from their commissioners who should have the records of what was discussed and agreed upon.”

From the figures released, five states, including Akwa Ibom, Rivers, Delta, Bayelsa, Kano and Lagos top the list of highest recipients with N265 billion, N230.4 billion, N216.7 billion, N176.3 billion, N106.5 billion and N82.9 billion, respectively.

While Kwara, Enugu, Gombe, Nassarawa, Ekiti and Ebonyi states received the lowest allocations of N52.8 billion, N51.6 billion, N47.7 billion, N46.9 billion, N46.8 billion and N44.3 billion respectively.

The balance of the ECA as at May 2015 was put at $2.07 billion.

The statement added that the summary of the inflows and outflows from the account shows that the opening balance was $4.56 billion in 2011 and reached a peak the following year at $8.7 billion before declining to $2.3 billion in 2013.

The fluctuation was attributed to the sharing of the proceeds usually requested by state governors as well as the practice of augmentation which involves additional sharing from the ECA when available funds are not adequate to meet revenue projections.

The ministry noted that Subsidy and SURE-P payments were also made from the account.

Below is a breakdown of the allocations.

1AbiaN56.1 billion
2AdamawaN59.7 billion
3Akwa IbomN265 billion
4AnambraN59.9 billion
5Bauchi N69.5 billion
6BayelsaN176.3 billion
7BenueN67.2 billion
8Borno N75.2 billion
9Cross River  N56.7 billion
10Delta N216.7 billion
11Ebonyi N44.3 billion
12EdoN67.5 billion
13EkitiN46.8 billion
14EnuguN51.6 billion
15GombeN47.7 billion
16ImoN71.89 billion
17JigawaN66.5 billion
18KadunaN79.9 billion
19KanoN106.5 billion
20Kastina N76.1 billion
21Kebbi N59.4 billion
22KogiN61.9 billion
23KwaraN52.8 billion
24LagosN82.9 billion
25NassarawaN46.9 billion
26Niger71.81 billion
28Ondo N81.7 billion
29Osun N61.4 billion
30OyoN74.2 billion
31PlateauN56.4 billion
32Rivers N237.4 billion
33Sokoto  N61.2 billion
34TarabaN53.6 billion
35Yobe N55 billion
 36 Zamfara N53.8 billion


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