| The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Monday disclosed how insistence by the states to share the money in the Excess Crude Account (ECA) resulted in the depletion of the account from $9 billion to $2 billion last year.
Okonjo-Iweala, who made this disclosure while defending the 2015-2017 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Policy (FSP) before the Joint Senate Committee on Finance and National Planning, said for the economy to remain stable, the ECA which she said later rose from $2 billion to $4.1 billion needs to be further raised and stabilised at $5 billion...............................................Full Article: Source
|