B/Haram: FG to Withdraw $1b from $2.317 Excess Crude Account

By Nkeremwem Cosmas


Nigerian state governors have approved the withdrawal of a chunky $1 billion from the $2.317 Excess Crude Account by the federal government to be used in the continued fight against Boko Haram terrorists in the North-east.

The Governor of Edo State, Godwin Obaseki disclosed this information when he briefed State House correspondents after the meeting of the National Economic Council which held inside the council chamber of the Presidential Villa Abuja and presided over by Vice President Yemi Osinbajo

Obseki said, “The NEC also resolved through the Chairman of the NGF to support the effort of the Federal Government in the area of security.

“Pleased with the achievements that have been made till date in the fight against insurgency, particularly in the North-East, the governors of Nigeria, through their chairman, announced at the NEC meeting that the governors have given permission to the Federal Government to spend the sum of $1bn on the fight against insurgency.

“This money is supposed to be taken from the Excess Crude Account.

“As you know, the issue of security, particularly as regards the North-East, is a very comprehensive response by federal forces. So, we expect that the contribution of the states to these efforts will cover the whole array of activities required to secure the country and counter-insurgency.

“We expect that the amount will include but not limited to the purchase of equipment, procuring intelligence and logistics and all things required to ensure that we finally put an end to the scourge of insurgence.”

Earlier, Governor Ibrahim Dankwabo of Gombe State, told the correspondents that the Excess Crude Account had a balance of $2.317 billion as at December 13, 2017.

Despite government’s repeated assurances that the terrorists had been defeated and reduced to soft target hitters, the group continues to mount attacks and carry out suicide bombings particularly in Adamawa where they have recently taken the war, though they still maintain deadly presence in the Borno State capital, Maiduguri and its environs.