The National Economic Council presided over by Vice President Yemi Osinbajo on Thursday set up a nine-member ad hoc committee to audit the ecological fund.
Governor Willie Obiano of Anambra State, who disclosed at the end of the NEC meeting at the Presidential Villa Abuja, said this was part of resolutions of the council.
Obiano said the Accountant General of the Federation had told the council that as at March 31, 2017, the balance of the Natural Resource Fund was N70.9 billion, while that of Ecological Fund was N33.6 billion.
Obiano said: “Council decided that an audit of ecological fund be carried out.
“Ad hoc committee comprising of Oyo, Borno, Imo, Kaduna, Anambra, Akwa Ibom, Benue and Ministers of Finance and Environment has been set up to do the audit and come up with recommendations on how the fund shall be managed.”
Obiano said the essence was to re-establish that the balance in the account was correct since it had stood on same amount for many months.
He said council also resolved that states and local governments should now keep their shares of the funds for interventions as the needs arose in their various jurisdictions.
Obiano also said Finance Minister, Kemi Adeosun, also gave an update on the disbursement of the Paris Club Fund refunds and preparations for the next round of payments to the states after the first disbursements.
He also said that the minister disclosed that the Excess Crude Account had a balance of $2.2 billion as at April 26, 2017.
On the operation of efficiency unit of the ministry, he said Adeosun reported that the unit had saved N17 billion for the Federal Government since it was established.
Obiano said NEC urged states to also establish efficiency units in order to improve efficiency reduce costs and block leakages in line with the fiscal sustainability plan.
Governor Simon Lalong of Plateau State noted states were complaining about the delay in the release of the outstanding of the Paris Club refund, adding that the fund had helped the states to pay salaries and for the country to come out of recession.
He thanked the President for the timely disbursement and said the fund would be used not only for salaries but for projects completion.
He said there were procedures to deal with states which failed to utilize the Paris Club money judiciously.
Lalong said the VP updated NEC on the progress in the implementation of the Social Intervention Programmes and on some impediments in the implementation by both the federal and state governments.
He said the council resolved to upgrade the states’ coordination units for the SIPs to the governors’ offices for better collaboration between the Federal and States’ governments.
He further said that the Health minister, Prof. Isaac Adewole, updated the Council on the outbreak of meningitis in the country.
He said the minister reported that there were 9,646 suspected cases in six states of Zamfara, Katsina, Sokoto, Niger, Kebbi and Kaduna with about 767 deaths as at April 25.
He said that the minister noted that about N46.7 billion was required for vaccination of the vulnerable population.
Lalong said the council expressed concern over the ravaging effects of the outbreak and directed the Health Ministry to intensify its intervention efforts “to contain the embarrassing epidemic while advocating for increased funding for health”.
He said Adewole had requested for the establishment of a national health emergency fund to be domiciled in the Presidency under the supervision of the NEC Chairman.
The National Security Adviser, Babagana Monguno, said he also briefed NEC on the general security situation in the country.
Monguno said he gave detailed brief on the prevailing situation between cattle rustlers, herdsmen and farmers, particularly in Kaduna, Taraba and Benue States.
The NSA said security agencies had begun a nationwide crackdown against gunmen, cattle rustlers, armed militants and other militia groups in the country.
He said that NEC resolved to hold extra ordinary session dedicated to security in the country.
Monguno said there was a consensus for security agencies to collaborate with the various states to deal with security issues.
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