State Governors, FCT Share $1billion From Excess Crude Acct
The Federal Government has approved the distribution of $1billion among the 36 states and FCT to enable them execute more people-oriented projects in line with the governmentâ€™s transformation agenda and the need to deliver more democracy dividends.
Briefing state house correspondents after the National Economic Council (NEC) meeting on Tuesday, the Rivers State governor, Rotimi Amaechi said that after the deduction only about N9.2 billion will be left in the excess crude account.
NEC also endorsed the implementation of the states GDP computation programme introduced by the Ministry of National Planning and six states of the federation will be used as pilots in the execution of the programme.
Vice President Namadi Sambo presided over the council meeting where issues on the excess crude account, GDP computation, how to curb trafficking in persons in the country and the stoppage of multiple taxation across the states were discussed.
Over the years, GDP has been calculated at the federal level but now the Federal Government says it is also possible to calculate the gross domestic products at the state level.
The council also adopted recommendations on how to stop child trafficking in the country with Abia, Kogi and Ogun states to be treated as pilot cases in a bid to combat the social scourge.