Thirty-six states of the Federation have given permission to the Federal Government to utilise $1billion from Nigeria’s excess crude account to tackle Boko Haram insurgency.
The approval, which was one of the major issues discussed at the National Economic Council meeting in Abuja, comes as the states’ support to the Federal Government to rid the North East of the insurgents.
Governor Godwin Obaseki of Edo State briefed State House correspondents on the outcomes of the meeting at the Presidential Villa in Abuja.
According to him, the approval was announced during the 83rd NEC meeting by the Chairman of Nigerian Governors’ Forum (NGF) and Governor of Zamfara State, Abdulaziz Yari.
Obaseki said governors of the 36 states of the Federation all approved the withdrawal of $1billion from the account by the Federal Government to tackle the activities of the terrorists in the disturbed region.
On his part, Gombe State Governor, Ibrahim Dankwambo, put the balance of the Excess Crude Account at $2.3billion as at December 13, 2017.
The excess crude account is the money above the benchmark price of oil in the international market saved for future expenses.
The meeting held inside the Council Chamber of the Aso Villa and was chaired by the Vice President, Professor Yemi Osinbajo.
The Federal Government had assured the Council that the fuel crisis witnessed in some parts of the country would be resolved within the next 48 hours.
