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What states got from ECA within last four years, by Okonjo-Iweala

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Okonjo-Iweala

Okonjo-Iweala

IN fulfillment of a pledge made last week, the Coordinating Minister of Finance and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has released details of what each state of the federation received from the Excess Crude Account (ECA) in the past four years.

And as the nation’s fuel crisis continues unabated, amidst an all-time drop in public power supply, the Lagos Chamber of Commerce and Industry (LCCI) yesterday accused the outgoing administration of abandoning governance, thereby causing an imminent shut down of the economy.

According to the chamber, the public power supply has practically collapsed, with a power generation of slightly above 1000 mw, while the option of alternative power generation is fizzling out with the acute shortage of petroleum products.

In a statement by LCCI’s President, Remi Bello and made available to The Guardian, the chamber said: “Most economic and social activities have been paralyzed with an imminent shut down of the entire economy. Yet there is no evidence of active engagement with stakeholders in the petroleum industry to bring an end to the crisis. The government needs to demonstrate accountability to the people.

A statement from the Minister yesterday said: “In addition to their constitutionally approved receipts from the Federation Account, the 36 states received a total of N2.92 trillion from the Excess Crude Account (ECA) between 2011 and 2014.

The figures show that they received N966.6 billion in 2011, N816.3 billion in 2012, N859.4 billion in 2013 and N282.8 in 2014. The low figure for 2014 reflects the steep decline in revenues due to the impact of the crash in global oil prices which began in the middle of the year.

Akwa Ibom (N265 billion), Rivers (N230.4 billion), Delta (N216.7 billion), Bayelsa (N176.3 billion), Kano (N106.5 billion) and Lagos (N82.9 billion) respectively, got the highest amounts from the ECA.

Kwara (N52.8 billion), Enugu (N51.6 billion), Gombe (N47.7 billion), Nasarawa (N46.9 billion), Ekiti (N46.8 billion) and Ebonyi (N44.3 billion) received the least amounts in that order.

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 balance as at May 2015 is $2.07 billion.


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2 Comments
  • Kay Otaru

    It’s disheartening to note in this present times of Information Age, that Nigerians can still be very myopic.they believe that every problem emanating from the local govt. areas, states of the federation & @ the federal level of governance are caused by the president; you have elected councilors & chairmen @ the local councils who are never held accountable for all the statutory allocations they receive from the federation purse, the state governors are also receiving very enormous sums of money from the same federation account & there is no commensurate developments to show for all the money collected, they also generate funds internally (IGR),they also borrow money from banks & multilateral institutions for projects that are not properly executed or not executed at all.
    Nigerians should inculcate the habit of inquiring into the affairs of government & how they are governed, they should ask questions on how their money is being utilised. There must be transparency in governance at all levels of government, this is how you make the the government to work & not start blaming them of corruption when they are about leaving office or after they have left office.

  • Proud Yoruba

    I hope this puts an end to all the allegations by ibos that Lagos and the SW was developed with oil money. The amount the SS gets is staggering, Akwa Ibom alone gets more that five SW states combined. Bayelsa has no population and gets 176 billion. Well we now know Lagis is not getting any oil money, because even Kano with 10 million population gets more than Lagos with over 20 million population.

    The SS people need to ask their governors why their states are not developed because the amount of money given them for free by Okonjo Wahala and Jona can develop them like Dubai.

    Then the Federal govt needs to tell us what they spent their $22 billion on because it was not on infrastructure projects, those trains look like cheap knock offs.

    Constitutionally, this money was not part of the statutory allocation and should not have been shared anyway. It was only after Okonjo Wahala came that they started sharing money, what kind of woman is this? She needs to be held accountable for the total $40 billion shared between FG and a States between2011 and 2014. We need to hire a forensic accounting firm to look into the a Excess Crude Account from its inception when OBJ set it up and left $22 billion in it until now at only $2 billion left.

    This is gross mismanagement of public funds. They all have to pay it back!