FG to share $2bn Excess Crude Account with states, local govts

National Economic Council has approved sharing of between $1billion and $2billion from the excess crude account amongst the federal, state and local governments.

Governor of Akwa Ibom State, Godswill Akpabio who disclosed this to state House Correspondents at the end of the National Economic Council meeting at State House, Abuja, said the money was to facilitate various development projects being executed by the different tiers of government across the country.

Governor Akpabio, who was flanked by Governors of Katsina State Ibrahim Shema; Ibrahim Dankwambo of Gombe State as well as Ministers of National Planning, Shamsudeen Usman,  and Power, said President Goodluck Jonathan also briefed the council on the progress being made in the power sector, stating that many of the NIPPs will become active and functional by December 2013.

On the provision of Broad Band Infrastructure by telecoms companies in the country, Governor Dankwambo said NEC gave its blessing to the recommendations of  Gombe State governor, Ibrahim Dankwambo-led, Sub Committee, which reviewed a recent presentation by the Minister of Information Technology, Mobolaji Johnson, on a proposed,  improved, broadband roadmap for the country.

He said telecoms service providers were expected to partner with the federal and state governments to ensure proper harmonization and integration of development projects with ICT infrastructure in the country.