Nigeria to Withdraw $1 billion From Excess Crude Account for Purchase of Arms to Fight Boko Haram

 

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, a report by Punch has revealed.

 

The decision, it was gathered was taken at a meeting of the council presided over by Vice-President Yemi Osinbajo at the Presidential Villa, Abuja. The decision was made public by the Edo State Governor, Godwin Obasek at the end of the meeting.

 

The council chaired by the Vice-President has all state governors as members. Obaseki said council members expected that the money would be spent on the purchase of security equipment, procurement of intelligence and logistics, among others.

 

Details later...