Sharing Of The Excess Crude Eve Of 1ST January, 2011


Dear Editor, From any angle you look at it, it is criminal that the federal government would at the eve of the new year (31st December, 2010) and in a meeting that lasted only 30 minutes

decided to tamper with the Excess Crude Account (ECA) to the tune of US$1billion. By the way, when has US Dollar notes become Nigeria's legal tender that a governor had to change Naira to US$3.4million which was intercepted at the Lagos airport; and the President giving Pastor Bakare and his group US$50,000 notes 'transport fare'?     

Jonathan's administration met $20billion (N3.1trillion) in the ECA that has now been depleted to only $3million (N450million). The Finance Ministry officials gave mundane reasons that since the President directed so for capital expenditure and the National Assembly had extended the execution of 2010 appropriation till March, 2011.   If the above reasons are to be taken; what capital projects would be missed between 1st and 3rd January that were public holidays if the sharing waited for the normal monthly Federal Allocations by FAAC meeting in January?

The 31st December sharing was simply for money laundering and buying the consciences of the State governors, most of who belong to PDP, with the Presidential primary in mind.     This has impugned on the integrity of the governments and detested by the common-man. I feel the president has a lot of explanation to make to the masses otherwise this would take a toll when he starts canvassing for votes, should he eventually emerge the PDP candidate for 2011 election.    

Furthermore as reported by some national dailies of November 8, 2010; while analysing how the federal government shared out to States sum of N1trillion in six months, Akwa Ibom received N104billion, following by Rivers (N99billion), Delta (N90billion) and Bayelsa (Jonathan's home State) N49billion. How come now at the 31st December booty sharing that Bayelsa received the highest?

This exercise calls for proper investigation, more so when our foreign debt which Obasanjo administration tried to clear is now gradually being eroded by the present federal government. The government now seeks foreign loans and the State governments would soon follow. Why can't a government know when to take what action? Why are groping in the dark?         

Dr. (Engr) Taribo Opuaya   
897 Aba Road   
Port Harcourt, R/S