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Inside Details: Why Nigerian Governors approved $1bn from oil savings to fight Boko Haram

The Governor of Edo State, Mr. Godwin Obaseki on Thursday briefed journalists in the State House, Abuja, the decision of the National Economic Council to spend $1billion from the Excess Crude Account to fight Boko Haram insurgency in the North-East region.

Obaseki said the decision was taken at the 83rd meeting of the National Economic Council which held inside the council chamber of the Presidential Villa Abuja and chaired by the Vice President, Prof. Yemi Osinbajo.

He explained that “the approval was announced during the NEC meeting by the chairman of Nigeria Governors Forum (NGF) and Governor of Zamfara State, Abdulaziz Yari.”

The Edo State Governor added that governors of the 36 states of Nigeria approved the withdrawal of the $1 billion from the Excess Crude Account by the federal government to fight the insurgency.

“The National Economic Council also resolved through the chairman of the Governors’ Forum to support the effort of the Federal Government in the area of security.

“Pleased with the achievements that have been made to date in the fight against insurgency, particularly in the North East, the governors of Nigeria through their chairman, announced at the NEC meeting that the governors have given permission to the FG to spend the sum of $1billion in the fight of insurgency.

“This money is supposed to be taken from the Excess Crude Account.’’

Obaseki hinted that federal government had given comprehensive response to security, especially insurgency in the North East region.

“We expect that the contribution of the states to these efforts is going to cover the whole array of efforts required to secure the country and counter insurgency.

“So we expect that the amount will include but not be limited to purchase of equipment, procuring intelligence and logistics and all what is required to ensure that we finally put an end to the scourge of insurgency,’’ he said.

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