$20bn Excess Crude Fund: Governors Battle Okonjo-Iweala As They Reconcile

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After 24 months of division, Nigerian governors have reconciled. Following the reconciliation, the governors have shifted their focus to a common enemy, Dr. Mrs. Ngozi Okonjo-Iweala, as States continue to groan due to reduced allocation from the federal government.

The NGF charged the minister to declare the estimated $20 billion they claimed would have accrued to the Excess Crude Account during their quarrel.

“We are hereby reconciled and reunited as a single umbrella association of the 36 State Governors of Nigeria regardless of party or region,” their resolution read.

“Forum Congratulates the President- elect, Muhammadu Buhari on his victory in the recent presidential election which held on March 28, 2015 and President Goodluck Jonathan for his statesmanship in accepting the outcome of the elections.

“In light of the fact that Funds in the Excess Crude were disbursed in May 2013, there is need for the Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi- Iweala to provide explanation fir accruals to this account from June 2013 to April 2015 which is estimated at over $20 billion.”