Estimated Reading Time: <1
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 days.
PREMIUM TIMES reports that 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 account.
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.
- Breaking: 553 new Coronavirus cases reported in Nigeria, highest in a single day
- Kaduna: Group calls for FG’s intervention in Kajuru killings
- Nollywood Actress, Regina Daniels is having a baby with Ned Nwoko
- Infectious Diseases Bill more dangerous than coronavirus – Ekweremadu
- Ibrahim, President Muhammadu Buhari’s nephew, is dead
- Doctors threaten strike over non payment of COVID-19 Allowance
- 268 Nigerians arrive from China
- Niger State plans to modernise local Islamic schools
- “Destructive shadow of bitterness, we’re shackled by the sins of our fathers”- Nigeria is haunted by the Biafran war
- Nigeria’s Elnathan John, others to judge Kalahari short story competition open to writers in Swahili, French and English