Okonjo-Iweala got N2.92trillion from Excess Crude Account between 2011 and 2014

Keeping to her promise to disclose what the states
got from the Excess Crude Account, the Minister of
Finance Ngozi Okonjo-Iweala-Iweala Sunday said the
36 states of the federation, received a total of N2.92
trillion from the account between 2011 and 2014.
A statement from the Federal Ministry of Finance
released Sunday night said the it had become
necessary to make the figures public following recent
accusations by the Rivers state governor on behalf of
state governors.
The statement from the federal ministry of Finance
noted that the "figures show that they (states)
received N966.6 billion in 2011, N816.3 billion in
2012, N859.4 billion in 2013 and N282.8 in 2014.
The low figure for 2014 reflects the steep decline in
revenues due to the impact of the crash in global oil
prices which began in the middle of the year.
Akwa Ibom got the highest with (N265 billion), Rivers
(N230.4 billion), Delta (N216.7 billion), Bayelsa
(N176.3 billion), Kano (N106.5 billion) and Lagos
(N82.9 billion) respectively got these amounts from
the ECA.
Kwara (N52.8 billion), Enugu (N51.6 billion), Gombe
(N47.7 billion), Nassarawa (N46.9 billion), Ekiti (N46.8
billion) and Ebonyi (N44.3 billion) received the least
amounts in that order.
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 balance
as at May 2015 is $2.07 billion."
The fluctuation in the ECA the statement explained
"reflects 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 are also made from the Excess Crude
Account




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