FG To Create 43.5% Of Excess Crude Account To Fight Boko Haram

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Friday,  December 15,2017

The 36 state governors who met Thursday in Abuja under the auspices of the National Economic Council with Vice President Yemi Osinbajo presiding have asked the Federal Government to withdraw  $1 billion from the $2.3 billion currently in the Excess Crude Account and use it to fight insurgency in the North East.

This represents 43.5 percent of the total amount of savings in the excess crude account.

Edo State Governor, Godwin Obaseki,  disclosed the decision to State House correspondents at the end of the meeting. He said the money would be spent on the purchase of military hardware and weapons as well as procurement of intelligence and logistics, among others.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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