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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Excess crude account hits $7bln; FG, states, LGs share N731.13bln

Posted on 15 April 2013

The Excess Crude Account (ECA) is now $7 billion, as the Federal Government, states and the 774 local government councils in the country shared N731.13 billion.
The allocation, which is for March, was shared by the three tiers of government after a stormy session at the meeting of the Federation Account Allocation Committee (FAAC) in Abuja, occasioned by the face-off of state commissioners of finance with the Minister of State for Finance, Lawan Yerima Ngama………………………………………..Full Article: Source


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