Federal Government, State Governors To Reconcile Excess Crude Account, NNPC Remittance, Reconstitute NEC Committee

The National Economic Council has reconstituted an ad hoc committee to reconcile the Excess Crude Account, Nigerian National Petroleum Corporation’s remittance, and related issues.

Governor Ahmadu Fintri of Adamawa State made the announcement when he briefed journalists covering the State House alongside governors Rotimi Akeredolu of Ondo (State) and Willie Obiano of Anambra (State) at the end of the council meeting which was presided over by Vice-President Yemi Osinbajo.

He gave the members of the committee to include the governors of Kaduna, Edo, Jigawa and Ebonyi states.

According to him, the committee is expected to meet with relevant federal government officials for the reconciliation.

He further disclosed that the permanent secretary of the Ministry of Finance updated the council on the balance of the excess crude account as of June 19, 2019, which he said was $144 million.

“Also update on the Stabilization Fund Account was presented to the council and as of today, the balance at the stabilization account stood at N17.67 billion.

“Update on the Natural Resources Development Fund stood as of today June 19, 2019, is N77.73 billion,” he added. In his contribution, Akeredolu stated that President Muhammadu Buhari inaugurated the council and charged the members to promote projects that would ensure speedy economic growth and development across the country.

“Mr. President in his inaugural speech charged the council among others to pay particular attention to the issue of security, agriculture, education, and health.

“Mr. President charged the council to bring forward key resolutions that would move the country forward and enhance better security in the nation. He told the governors that the federal government would assist the states to access foreign assistance for basic education.

“Buhari implored the states to find ways to improve economic conditions of the poor, take agriculture and health seriously in order to better the lots of the citizens,” he said.