Vice President, Yemi Osinbajo, has promised that the Federal Government will probe the alleged unequal disbursement of N2bn ecological funds to states by the immediate past government.
Osinbajo gave the promise during the National Economic Council, NEC, meeting he presided over, yesterday at the Presidential Villa, Abuja .
In a statement by his Media aide, Laolu Akande, the Vice President said the matter will be “broadly reviewed, and forthright counsel would be made to the President.”
According to the statement, Osinbajo took the decision following complaints by some governors saying, “N2 billion was paid to some States by the last Administration under unclear circumstances and criteria.
“There were complaints that state governments did not have equal access to the Fund amid allegations of political preferences.”
Approving an alternative funding for the oil and gas sector, NEC, the council said the new funding regime will, “eliminate the often arduous and onerous cash call regime which has dragged the industry in about a decade, stalling growth.”
The statement disclosed that the alternative funding stream had been approved earlier this week at the Federal Executive Council, FEC, meeting and then presented to NEC, to come up with “measures necessary for the coordination of the economic planning efforts or economic programmes of the various Governments of the Federation.”
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