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 Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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