By Victor Ernest
The National Executive Council (NEC) has made it known that the balance on Nigeria’s Excess Crude Account is 2.3 billion dollars.
Governor Ibrahim Dankwambo of Gombe state disclosed this when he briefed State House Correspondents after the NEC meeting at the Presidential Villa, Abuja, presided over by acting President Yemi Osinbajo.
According to the governor, the Finance Minister, Kemi Adeosun, made the announcement during the NEC meeting.
He said the Accountant-General of the Federation gave update on the Stabilisation Fund, Natural Resources Development Fund and Ecological Fund.
Dankwambo quoted the AGF as saying that the balance in the stabilisation fund as at June 28 was N28.5 billion; Natural Resources Development Fund was N87.6 billion while Ecological Fund was N28.9 billion.
On the Budget Support Loan Facility, he said the acting President had directed that ”the facility continues until claims of other states are paid.”
The Budget Support Loan Facility is an initiative of the President Muhammadu Buhari administration to help states boost their finances in the light of dwindling funds from the Federation Account.
Dankwambo said he briefed the meeting on the progress made by the Ad Hoc Committee on Excess Crude Account constituted by the NEC.
He said that 10 out of 18 Ministries, Departments and Agencies (MDAs) had been audited; adding that a comprehensive report should be expected by next meeting.
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