Posted on Feb 24, 2020
GOVERNORS are worried about the depletion of the Excess Crude Account (ECA) and the resurgence of insecurity especially the upsurge of Boko Haram attacks, it was learnt at the weekend.
Also of concern to the states helmsmen is the reluctance of the Federal Government to tinker with the revenue allocation formula which they believe is desirable.
The governors expressed shock that they were neither consulted nor informed as stakeholders on what warranted the withdrawal from the ECA, which was suddenly depleted from $325million to $70million in one month.
The ECA matter and the deepening insecurity will be part of the agenda of the National Economic Council (NEC) meeting on Thursday.
In the last two weeks, Boko Haram insurgents have renewed attacks on parts of the Northeast —Borno, Yobe and Adamawa states.
It was not clear if the governors will stick to their position that President Muhammadu Buhari should rejig the security architecture or adopt the President’s decision to retain the Service Chiefs.
A governor, who spoke in confidence, said: “The governors are going to the NEC meeting with three issues bordering on security, ECA and reconciliation of oil revenue and allocation.