A Review of the Nigerian Energy Industry

Govs call for release of $1bn excess crude funds

Ben Agande

12 December 2012, Sweetcrude, Abuja — Nigerian state governors, Tuesday, called on the Federal Government to release the sum of $1 billion from the excess crude account, which is a subject of litigation between the federal and state governments, warning that on-going projects in states would be stalled if the money was not released.

Addressing state house correspondents after a meeting of the National Economic Council in Abuja, the governors said though the council resolved that the case in court should proceed while avenues were explored to find amicable resolutions, the Attorney General of the Federation was directed to find ways of paying the money to the states.

Governor of Gombe State, Ibrahim Dankwambo, who led the governors of Ekiti and Ebonyi states as well as the deputy governor of Sokoto state to the briefing, noted that the issue of the excess crude account was not a pointer to a dispute between the states and federal government but meant to resolve how such monies should be shared.

On the prevailing fuel scarcity in some states, the governor of Gombe State said the council was briefed on the payment of subsidy to marketers whose claims had been verified, adding that government was working had to verify the other outstanding claims.

According to him, payment of up to N881billion has so far been made after verification, while about N100billion was still needed for settlement and still being verified.

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  • Governance that thrives on rent seeking cannot possibly achieve much. Our governors must look beyond collecting monies from the federation account to creating wealth for the benefit of the people. Unfortunately, the management of the treausry by the federal government does not inspire any confidence whatsoever.

  • May be they want to pay ransom, for the kidnapped of the MOTHER OF NIGERIANS.

  • Good afternoon, sir. How far arrears?

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