Economy

Govs Want Funds in Excess Crude Account Shared

Govs Want Funds in Excess Crude Account Shared

Economy
The 36 state governors have told President Muhammadu Buhari to approve the sharing of funds in the Excess Crude Account among the three tiers of government in order to improve the liquidity position of the states. Currently, the ECA, which was set up when crude oil price was above $100 per barrel to save anything above the budget benchmark price in a special account for use in lean period, currently has a balance of $2.259bn. The governors, under the aegis of Nigeria Governors Forum, made the request at the Presidential Villa, Abuja on Thursday during a meeting with the President on the current economic crisis facing the states, which has culminated in the inability of the state governments to pay workers’ salaries. The Chairman of the forum and Zamfara State Governor, Abdulaziz Yari,