Obaseki briefs journalists on NEC’s $1bn Excess Crude approval to fight Boko Haram


The Governor of Edo State, Mr. Godwin Obaseki on Thursday briefed journalists in the State House, Abuja, the decision of the National Economic Council to spend $1billion from the Excess Crude Account to fight Boko Haram insurgency in the North-East region.  

Obaseki said the decision was taken at the 83rd meeting of the National Economic Council which held inside the council chamber of the Presidential Villa Abuja and chaired by the Vice President, Prof. Yemi Osinbajo.

He explained that “the approval was announced during the NEC meeting by the chairman of Nigeria Governors Forum (NGF) and Governor of Zamfara State, Abdulaziz Yari.”

The Edo State Governor added that governors of the 36 states of Nigeria approved the withdrawal of the $1 billion from the Excess Crude Account by the federal government to fight the insurgency.

Earlier, the Governor of Gombe State, Ibrahim Hassan Dankwambo, put the balance of the Excess Crude Account at $2.317 billion as at December 13, 2017.

  • RumuPHC

    Here we go again ……

    While the monetary value of the entire financial wherewithal and military arsenal of Boko Haram may not be up to $10m , the Nigerians government has spent billions of dollars in since 2014 to prosecute the war against the Islamic extremist group and is now to spend another $1bn of ECA to fight Boko Haram in the NE.

    Instructively, the combined 2017 Budgets of Bornu & Adamawa States, both frontline states ravaged by Boko Haram crisis , is just a little under $1bn . Meanwhile the FG has spent close to $3bn fighting the religious insurgence group in the NE in 2017.

    Apparently something is not adding up somewhere. Perhaps it’s about time the strategy to counter Boko Haram is reviewed . Isn’t it now apparent to FG that arms dealers are benefiting from this mindless Boko Haram crisis and will do everything possible to stoke the conflict ?