NEC Approves Release of $1 Billion to Fight Boko Haram

Posted by African Examiner Featured, Latest Headlines, News Thursday, December 14th, 2017

Photo: Nigeria’s Vice President, Yemi Osinbajo

ABUJA, NIGERIA (AFRICAN EXAMINER) – The National Economic Council (NEC) has approved the withdrawal of $1 billion from the Excess Crude Account by the Federal Government FG to execute the fight against Boko Haram insurgents in the North Eastern part of the country.

Edo State Governor Godwin Obaseki disclosed this while briefing State House correspondents after a meeting of the Council presided over by the Vice President, Prof. Yemi Osinbajo and held Thursday inside the Council Chamber of the Presidential Villa, Abuja.

Obaseki explained council members expected that the money would be spent on the purchase of security equipments, procurement of intelligence and logistics, among others.

The Excess Crude Account has a balance of $2.317b as at December 13, 2017.