The National Economic Council, on Thursday, asked the Federal Government to withdraw $1bn from the $2.3bn currently in the Excess Crude Account and use it to fight insurgency in the North-East.
The decision was taken at a meeting of the council presided over by Vice-President Yemi Osinbajo at the Presidential Villa, Abuja.
The council chaired by the Vice-President has all state governors as members.
Some civil society groups and analysts, however, faulted the move by the Muhammadu Buhari-led Federal Government on the basis that past allocations to defence and the anti-terrorism operations had yet to be judiciously accounted for.
Edo State Governor, Godwin Obaseki, disclosed the decision of NEC to State House correspondents at the end of the meeting.
Obaseki said council members expected that the money would be spent on the purchase of security equipment, procurement of intelligence and logistics, among others.
He said the Chairman of the Nigeria Governors’ Forum, Alhaji Abdulaziz Yari of Zamfara State, announced the governors’ decision at the meeting.
The governor stated, “The NEC also resolved through the Chairman of the NGF to support the effort of the Federal Government in the area of security.
“Pleased with the achievements that have been made till 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 Federal Government to spend the sum of $1bn on the fight against insurgency.
“This money is supposed to be taken from the Excess Crude Account.
“As you know, the issue of security, particularly as regards the North-East, is a very comprehensive response by federal forces. So, we expect that the contribution of the states to these efforts will cover the whole array of activities required to secure the country and counter-insurgency.
“We expect that the amount will include but not limited to the purchase of equipment, procuring intelligence and logistics and all things required to ensure that we finally put an end to the scourge of insurgence.”
Towards the end of the administration of former President Goodluck Jonathan in 2015, the Federal Government requested and got approval from the National Assembly for a loan of $1bn to fight the Boko Haram menace.
No explanation has been given on how the money was expended to date.
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