Madam Iweala Reveals How much states got from Excess Crude Accounts

                        

As a result of Governor Rotimi Amaechi accusation against the Federal Government,in regards of how the money in Excess Crude Accounts was spent,the Ministry of Finance under the Directive of the Minister Ngozi Iweala release a statement making the figures public of how much each state got from the ECA.
The Minister stated that between 2011-2014 the states received N2.92 T from the Excess Crude Accounts.

“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) 

 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) 

 Ebonyi (N44.3 billion) received the least amounts in that order

“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 ministry stated that the payment of subsidy and SURE-P fund was from the ECA ,explaining that the fluctuation in the Excess Crude account  “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.” 
While the Federal Government share from the account in this period was N3,29 T