Keeping to her promise to disclose what the states got from the Excess Crude Account, the Minister of Finance Ngozi Okonjo-Iweala-Iweala Sunday said the 36 states of the federation, received a total of N2.92 trillion from the account between 2011 and 2014.
A statement from
the Federal Ministry of Finance released Sunday night said the it had
become necessary to make the figures public following recent accusations
by the Rivers state governor on behalf of state governors.
statement from the federal ministry of Finance noted that the “figures
show that they (states) received N966.6 billion in 2011, N816.3 billion
in 2012, N859.4 billion in 2013 and N282.8 in 2014.
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
Akwa Ibom got the highest with (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 these
amounts from the ECA.
Kwara (N52.8 billion), Enugu (N51.6
billion), Gombe (N47.7 billion), Nassarawa (N46.9 billion), Ekiti (N46.8
billion) and Ebonyi (N44.3 billion) received the least amounts in that
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 balance as at May 2015 is
The fluctuation in the ECA the statement
explained “reflects 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 are also made from the Excess Crude Account while the
Federal Government’s share from the ECA during the period was N3.29