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
