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Federal government hinted on Thursday of plans to spend 1 billion US Dollars from the Excess Crude Account to tackle Insurgency in the country, but did not give a time frame within which the money will be spent.
Edo State Governor Godwin Obaseki disclosed that this was one of the high point decisions taken at the end of the 82nd meeting of the National Economic Council (NEC), while briefing State House Correspondents after the meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja, on Thursday.
The NEC is made up of Governors of the 36 states of the Federation, Governor of the Central Bank of Nigeria (CBN) and key Ministers.
Obaseki said the funds will be used for arms procurement, training as well as the much needed logistics for the prosecution of the Insurgency that had ravaged parts of the North Eastern part of Nigeria.
Since the beginning of insurgency in Nigeria in 2009, billions of dollars have been spent in prosecuting the crises, with no less than 200,000 people killed so far.
The Edo Governor said NEC arrived at the decision as part of its contribution of the Nigeria Governors’ Forum to support efforts of the Federal Government in the area of security.
According to him, “Pleased with the achievement 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 $1billion US dollars in the fight of insurgency.”
He added that “the money is supposed to be taken from the Excess Crude Account”
It is the second time in less than four years that the federal government will be committing such funds into tackling Boko Haram insurgency that had crippled life in the north east and its environ, the first being in July, 2014 when former President Goodluck Jonathan approached the National Assembly for an external loan of 1billion US Dollars to tackle Boko Haram.
President Buhari had lately informed the country that Nigerian security forces have largely weakened Boko Haram’s capabilities, but warned that they still posed serious threats through unconventional attacks on soft spots, targeting civilians, markets, religious houses, amongst others, which have been their major targets in recent times.
This is just as a retreat for Secretaries to state governments ( SSG) was approved on the requests of the Secretary to the government of the Federation, ( SGF).
The retreat according to the government is to enable the states align with Federal government for the purpose of policies.
Gombe state Governor, Ibrahim Damkwabo, said the Council also received update from the forensic audit of revenue that accrued into the federation account up to 2015.
“ As a follow up to that report that was submitted last month, council was informed that KPMG is still conducting the audit of the Nigerian customs service and the Nigerian Communication Commission hopefully by January 2018 these audit will be concluded and reports will be submitted to the council”
“Council was also informed by the Accountant General of the Federation that the balance in the Natural Resource Development Fund Account as at 13th December 2017 stands at N106.984billion”
“The accountant general of the federation also informed council that the balance in the Excess Crude Account as at 13th December 2017 stands at $2.317billion dollars. Update of the current balance of the stabilisation fund account was also reported by the Accountant General of the Federation which as at 13th of December 2017 stands at N7.78billion.”
Also briefing on update on budget support facility, Dankwambo stated that “loan granted to states was also reported to council and that for the month of June,July and August, states have been paid” adding that “Federal Ministry of Finance is working on the payment of the month of September budget support’
According to him, “ the minister of finance informed council that the budget support facility to states is also based on certain conditions as agreed under the fiscal responsibility plan, but she complained that most states are yet to comply and added that non compliance will make her ministry stop any further to be given to states that do not comply”
Tony Ailemen, Abuja
