Nigerian Governors Approve Release of $1b From Excess Crude Account to Fight Boko Haram

Nigerian Governors Approve Release of $1b From Excess Crude Account to Fight Boko Haram

The governors of Nigeria’s 36 states have approved the withdrawal of $1 billion from the Excess Crude Account (ECA) by the Federal Government to be used in the ongoing fight against Boko Haram Islamists in the North-east.

This was made known by the Governor of Edo State, Godwin Obaseki during a briefing of State House correspondents after Tuesday’s meeting of the National Economic Council (NEC) which took place inside the council chamber of the Presidential Villa, Abuja and was presided over by Vice President Yemi Osinbajo.

According to Mr. Obaseki, the announcement was made by the chairman of Nigeria Governors Forum, NGF, and Governor of Zamfara State, Abdulaziz Yari during the 83rd NEC meeting.

Premium Times reports that the Governor of Gombe State, Ibrahim Dankwambo, who spoke earlier, said the Excess Crude Account had a balance of $2.317 billion as at December 13, 2017.

The mammoth allocation to tackle the menace of insurgency in the north-east comes a day after Boko Haram Jihadists laid siege on Mainok village in Borno State.

It took the intervention of the Nigerian Armed Forces to rescue the small town in an operation that reportedly lead to casualties on both sides.

The decision of the governors also comes amid rumblings between Borno State Governor Kashim Shettima and his predecessor Ali Modu-Sheriff over the sponsors of the group.

It is not yet clear if the move has the blessings of president Muhammadu Buhari, who us presently away in Paris, France for the One Planet Summit.