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- 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 $300million remaining in the account which was created to help the two tiers of government save for raining days.
- The Edo State Governor, Adams Oshiomole, had told newsmen 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 which are owing months of salaries to their workers, approached him for bailout.
- More to come
- Source: Premium Times
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