FG, States Share N6.21 Trillion ECA In 4years, Akwa Ibom Gets Highest

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Former Minister of Finance and Supervising Minister of the Economy
Nigeria's Minister of Finance
Nigeria’s Minister of Finance

By Sadiq Umar, Abuja.

The Minister of Finance and Coordinating minister of the economy, Dr. Ngozi Okonjo-Iweala, Sunday released details how a total of N6.21 trillion Excess Crude Account money was shared among the 36 states with Akwa Ibom state earning N265 billion, the highest from the account. The figures cover a period between 2011 and 2015.

Okonjo-Iweala had promised that the ministry would publish details of the Excess Crude Account (ECA) for the last four years, following allegation by the Nigeria Governor’s Forum last week that $20billion from the account was unaccounted for.

The minister had dismissed the allegation as strange, asking the governors to consult their commissioners of finance who she said are witnesses to the transactions at the Federation Account Allocation Committee (FAAC), if they needed clarification.

“Nothing is hidden. Governors who want any information about the ECA should ask for details from their commissioners who should have the records of what was discussed and agreed upon.”

However, a statement by the Special Adviser to the minister on Communications, Mr. Paul Nwabuikwu, released late Sunday, revealed that the Federal and State governments shared a total of N6. 21trillion from the ECA between 2011 and 2015.

The breakdown of the sum collected by the state governments within the period also revealed a dwindling from N966.6 billion in 2011; N816.3 billion in 2012; N859.4 billion in 2013 to N282.8 billion in 2014.

From the figures released, five states including Akwa Ibom, Rivers, Delta, Bayelsa, Kano and Lagos top the list of highest recipients with N265 billion, N230.4 billion, N216.7 billion, N176.3 billion, N106.5 billion and N82.9 billion respectively.

Ebonyi state received the lowest allocation of N44.3 billion for the period under review alongside Kwara-N52.8 billion; Enugu-N51.6billion; Gombe-47.7billion; Nassarawa-N46.9billion and Ekiti-N46.8billion respectively.

The breakdown also revealed a balance $2.07billion in the ECA account as at May 2015.

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 fluctuation was attributed to 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 were also made from the account.

Below is a breakdown of the allocations.

S/N                       STATE                              ALLOCATION

1                            Abia                                  N56.1 billion

2                             Adamawa                          N59.7 billion

3                            Akwa Ibom                        N265 billion

4                             Anambra                           N59.9 billion

5                             Bauchi                               N69.5 billion

6                            Bayelsa                             N176.3 billion

7                            Benue                                N67.2 billion

8                            Borno                                 N75.2 billion

9                            Cross River                        N56.7 billion

10                           Delta                                   N216.7 billion

11                           Ebonyi                                 N44.3 billion

12                           Edo                                      N67.5 billion

13                           Ekiti                                     N46.8 billion

14                           Enugu                                  N51.6 billion

15                           Gombe                                  N47.7 billion

16                            Imo                                        N71.89 billion

17                           Jigawa                                   N66.5 billion

18                            Kaduna                                  N79.9 billion

19                            Kano                                      N106.5 billion

20                           Kastina                                   N76.1 billion

21                           Kebbi                                      N59.4 billion

22                           Kogi                                        N61.9 billion

23                           Kwara                                     N52.8 billion

24                           Lagos                                      N82.9 billion

25                            Nassarawa                              N46.9 billion

26                           Niger                                        N 71.81billion

27                            Ogun                                        N59.1billion

28                            Ondo                                        N81.7billion

29                           Osun                                        N61.4 billion

30                           Oyo                                          N74.2billion

31                           Plateau                                   N56.4billion

32                           Rivers                                      N237.4billion

33                           Sokoto                                     N61.2 billion

34                           Taraba                                     N53.6 billion

35                           Yobe                                        N55 billion

36                           Zamfara                                  N53.8 billion