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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Management/Administration

Nigerian governors demand $1 bln from Excess Crude Account

Posted on 13 December 2012

Nigeria’s 36 state governors want a $1 billion payout from the country’s crude oil savings account to fund projects, said Sokoto state Deputy Governor Mukhtar Shagari.
The governors want the federal government to disburse “at least about $1 billion from the excess crude account to help the state governments to meet up with their financial responsibilities as the year is coming to an end, because most of the states have contracts that are ongoing and are very important to the people of this country,” Shagari, who spoke on behalf of the governors, said today in an e-mailed statement from Abuja, the capital………………………………………..Full Article: Source


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