ECA: Akwa-Ibom receives the Highest Percentage
According to a statement made available by the Federal Ministry of FinanceFinance, 36 states received a total of
N 2.92 trillion from the account between 2011 and
2014.
it had become necessary to make the figures public following recent accusations by the Rivers state governor on
behalf of state governors.
The statement from the federal ministry of Finance
noted that the “ figures show that they ( states)
received N 966. 6 billion in 2011, N 816 .3 billion in
2012, N 859 .4 billion in 2013 and N 282.8 in 2014 .
The low figure for 2014 reflects the steep decline in
revenues due to the impact of the crash in global
oil prices which began in the middle of the year .
Akwa Ibom got the highest with (N 265 billion) ,
Rivers ( N 230.4 billion) , Delta (N 216. 7 billion ),
Bayelsa (N 176 .3 billion ), Kano ( N 106.5 billion) and
Lagos (N 82 .9 billion ) respectively got these
amounts from the ECA.
Kwara (N 52 .8 billion ), Enugu ( N 51.6 billion) ,
Gombe ( N 47.7 billion) , Nassarawa ( N 46.9 billion ) ,
Ekiti (N 46 .8 billion ) and Ebonyi ( N 44.3 billion )
received the least amounts in that order.
The statement added that “the summary of the
inflows and outflows from the Account shows that
the opening balance was $4.56 billion in 2011 and
reached a peak the following year at $8.7 billion
before declining to $2.3 billion in 2013 . The
balance as at May 2015 is $2. 07 billion .”
The fluctuation in the ECA the statement explained
“reflects the sharing of the proceeds usually
requested by state governors as well as the
practice of Augmentation which involves additional
sharing from the ECA when available funds are not
adequate to meet revenue projections.”
The ministry noted that Subsidy and SURE - P
payments are also made from the Excess Crude
Account while the Federal Government’ s share from
the ECA during the period was N 3.29 trillion.
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