Indications emerged on Thursday that the Acting President, Dr. Goodluck Jonathan, might have approved the disbursement of $2bn from the Excess Crude Account for distribution among the three tiers of government.

Our correspondent gathered that a letter to that effect was sent to the Minister of State for Finance, Mr. Remi Babalola, on Tuesday as part of measures to stimulate the economy, following a meeting with governors of the oil producing states.

It was also learnt from reliable sources that Jonathan’s letter of approval for the disbursement would be presented at the Federation Accounts Allocation Committee’s meeting, where it would be approved today (Friday).

THE PUNCH had reported exclusively on Tuesday that the 36 governors opted to back the handover of power to Jonathan on the grounds that he would share part of the excess crude funds to augment the February statutory allocation to the three tiers of government. The Excess Crude Account has a current balance of $6.2bn.

It was gathered that the governors had presented the request to Jonathan before he was pronounced Acting President on Tuesday.

Jonathan was said to have initially told them that he had no powers to share the funds since a Federal High Court had ruled that he could only perform the functions of the President but not act as President.

A source close to the meeting claimed that many of the governors said they were cash-trapped and needed money to run their states.

The FAAC had said in January that a total of $5.5bn was distributed from the Excess Crude Account savings in 2009, adding that N4.17tn was distributed from the Federation Account among the three tiers of government in 2009.

Jonathan’s meeting with governors of oil producing states on Thursday was apparently to ensure that the amnesty programme for the Niger Delta did not founder and curb distruptions to oil industry acivities.

Details of what transpired at the meeting with the governors were not disclosed to journalists, but it was gathered that issues concerning security and stability in the oil producing states featured prominently on the agenda.

Governors in attendance at the meeting included Mr. Rotimi Amaechi of Rivers, Chief Timipreye Sylva of Bayelsa, Dr. Emmanuel Uduaghan of Delta and Dr. Olusegun Mimiko of Ondo.

The closed door meeting was also attended by some Federal Government officials, including ministers of Defence, Maj. Gen. Godwin Abbe; National Planning, Dr. Shamsudeen Usman; and Environment, Chief John Odey, among others.

Meanwhile, our correspondent gathered that Jonathan wouldon Monday meet with members of the the National Economic Management Team as part of his measures to stimulate the economy.

The NEMT members have already met in Abuja on Thursday at the Federal Ministry of Finance to review the economy and to prepare a strategy paper on how to move the economy forward.

The paper will be presented to the Jonathan on Monday.

Ailing President Umaru Yar’Adua had inaugurated the NEMT on February 2, 2009, to design and execute his administration’s economic policies as well as support the work of the Presidential Steering Committee on the Global Economic Crisis.

http://www.punchontheweb.com/Articl.aspx?theartic=Art20100212241178

Let the work begin. Though Goodluck should an eye on the funds, before they start the mismanagement.

lol @ people thinking Goodluck would be good. Maybe I am just pessimistic because I have no reason to be otherwise.

jumobi1:

lol @ people thinking Goodluck would be good. Maybe I am just pessimistic because I have no reason to be otherwise.

Nigerians generally suffer from a syndrome of short memory - myself i know how to manage my expectations

What did he do in Bayelsa?
I hope no one is getting over excited.This man is not different from the rest of the bunch.

After only 2 days, this guy done dey share money amongst him compadres. On his first day, it was a meeting with ministers to double some hotel building contract from N800m to N1.4bn so as to turn it from a 2-star to a 4-star facility. I really wonder if that should be a Presidents priority on his first day, or is it the price he had to pay to be given the Presidency?

Now its the Governors turn. If the governors feel they have run out of money, they should feel free to use the one they have already stolen to develop their respective states.

Its like these repeated calls for "economic stimulus" has become a ruse for public officials to eat deeper into the national cake.

Okonjo-Iweala set up the excess crude fund for a reason, and that was to bolster our foreign reserves, not to dip into it whenever we feel like.


Can a rotten tree (PDP) produce good fruit? We will see in the fullness of time.

But that has been the trend in this country. Either ways i think it might be 2 early 2 judge him overall at this point. At least Aondoakaa was given d boot.

Hahahahahahahahaha, where is beaf and his Niger Deltans associates?

I told you fools when you were rejoicing that you will soon start crying.What some of these morons on nairaland forget is that Nigeria has five major tribes now :

Politicians

Yoruba

Hausa

Igbo

Niger Delta*

Politicians are a tribe on their own,you fools started praising Akinluyi because she submitted a dumb memo at the very last minute.LOL Nigerians ! very unintelligent set of people.

Give me 24hrs with all these monkeys and i will execute them one by one even Akinluyi because they are birds of the same feather.Don't worry PDP i am coming back soon and i am coming with trouble.

Sharing sharing sharing all the time.
lets than 48hrs into a new office,thoughts of sharing has begun already?

Shoot2Kill:

Hahahahahahahahaha, where is beaf and his Niger Deltans associates?

I told you fools when you were rejoicing that you will soon start crying.What some of these morons on nairaland forget is that Nigeria has five major tribes now :

Politiicians

Yoruba

Hausa

Igbo

Niger Delta*

Politicians are a tribe on their own,you fools started praising Akinluuyi because she submitted a dumb memo at the very last minute.LOL Nigerians ! very unintelligent set of people.

Give me 24hrs with all these monkeys and i will execute them one by one even Akinluyi because they are birds of the same feather.Don't worry PDP i am coming back soon and i am coming with trouble.

ol boy you no go kill me with laugh.
in the midst of the humour, your point is clearly evident and i share your sentiments.

Ibime:

After only 2 days, this guy done dey share money amongst him compadres. On his first day, it was a meeting with ministers to double some hotel building contract from N800m to N1.4bn so as to turn it from a 2-star to a 4-star facility. I really wonder if that should be a Presidents priority on his first day, or is it the price he had to pay to be given the Presidency?

Now its the Governors turn. If the governors feel they have run out of money, they should feel free to use the one they have already stolen to develop their respective states.

Its like these repeated calls for "economic stimulus" has become a ruse for public officials to eat deeper into the national cake.

Okonjo-Iweala set up the excess crude fund for a reason, and that was to bolster our foreign reserves, not to dip into it whenever we feel like.


Can a rotten tree (PDP) produce good fruit? We will see in the fullness of time.

Nothing is going to change.
This guy is cut from the same cloth as his boss; inept, clueless and corrupt.
The only difference is that he is in good health.
I am not holding my breath because i am almost certain that i will not be disappointed.
The fact is that Nigerians are so brutalized in their minds that they are willing to be gullible and believe that any one who is less than the worst will bring the much needed change.
Wait until his wife launches her pet project and the same old barbarians fall over themselves to donate billions.
Meanwhile,how far for Turai cancer hospital?

Shoot2Kill:

Hahahahahahahahaha, where is beaf and his Niger Deltans associates?

I told you fools when you were rejoicing that you will soon start crying.What some of these morons on nairaland forget is that Nigeria has five major tribes now :

Politiicians

Yoruba

Hausa

Igbo

Niger Delta*

Politicians are a tribe on their own,you fools started praising Akinluuyi because she submitted a dumb memo at the very last minute.LOL Nigerians ! very unintelligent set of people.

Give me 24hrs with all these monkeys and i will execute them one by one even Akinluyi because they are birds of the same feather.Don't worry PDP i am coming back soon and i am coming with trouble.

Gbam - Some people were even claiming a new dawn has started for Nigeria - i guess it is new dawn of weeping

mbulela:

Meanwhile,how far for Turai cancer hospital?

How could she have opted for cancer hospital when acute pericadiaties,kidney challenge and lots more
were staring her in the face daily?

^^^^^

you dey ask me abi u dey ask Turai?

MBULELA

What did he do in Bayelsa?
I hope no one is getting over excited.This man is not different from the rest of the bunch.

@Mbulela

yes what did he do in Bayelsa state? answer the question.
And all the bunch are the same?

You have just signed a check that will help make leading nigeria out of its problems MORE DIFFICULT. will tell you how.

WHEN YOU EXPECT NOTHING YOU GET NOTHING
IF YOU DID THE REVERSE AND SAY WHAT YOU WANT HIM TO DO EVEN YOU HAVE TO SAY IT A GAZILLION TIMES IT DOES NOT MAKE YOU LESS OR MORE A NIGERIAN.

@mubulela again

mbulela:
Nothing is going to change.

GOODLUCK IS JUST ONE MAN AND HE CANT BY HIMSELF CHANGE THE WHOLE 200MILLION NIGERIAN OR FORCE YOU TO HELP HIM THINK DIFFERENTLY

mbulela:
This guy is cut from the same cloth as his boss; inept, clueless and corrupt.

Yaradua Corrupt? well you have made it easy for any leader to come in and have a free day and go. Why? because you just EXPECTED NOTHING AND IT IS YOUR UNALLIENATED RIGHT TO GET NOTHING.

mbulela:
The only difference is that he is in good health.
I am not holding my breath because i am almost certain that i will not be disappointed.

you just told the whole world that you have no hope in your countrymen. SO IF YOU ARE DISSAPOINTED WHAT SHOULD WE DO TO YOU? YOU ARE ONE OF THE NIGERIANS THAT HAVE A DEGREE IN PESSIMIOLOGY. SOME NIGERIANS THINK BY HOPING FOR ZERO AND A LOT IT FOR THAT MATTER THE MAY HAVE SUCCESS. ALOT OF THE PARASITIC ELITES NEED PEOPLE LIKE YOU.

mbulela:
The fact is that Nigerians are so brutalized in their minds that they are willing to be gullible and believe that any one who is less than the worst will bring the much needed change.

You seem to be the leader of the BRUTE FORCE reread all you posted and you will see that you brutalize their minds to hope for nothing. There are lot of nigerians reading on this sites and they read all you say it enters into their minds NOT TO EXPECT NOTHING so the RESULTANT is that the leaders think OF NOTHING AND WILL DO NOTHING.

YOU ARE LIKE A DOCTOR TELLING THE PATIENT BLATANTLY THAT THE PATIENT WILL DIE OF MALARIA IF THAT PATIENT WAS WISE HE SHOULD SHOUT FOR HELP TO BE SAVED FROM YOU BECAUSE YOU ARE WORSE THAN THE DISEASE.

mbulela:
Wait until his wife launches her pet project and the same old barbarians fall over themselves to donate billions.
Meanwhile,how far for Turai cancer hospital?

YOU JUST SENTENCED 200 MILLION OF US NIGERIANS. YOU CALLED US BARBARIANS. FINE, YOU HAVE THE RIGHT TO DO SO. YOU HAVE THE RESPONSIBILITY TO SHOW US WE ARE BARBARIANS


GOD BLESS NIGERIA AND ITS PEOPLES

^^^^Arrghhh, Shut the eff up, pleaasssee!!!! WANNA-BE PATRIOT!!!! Yes, the other poster was pessimistic, u know why? Cus u guys are a buncha cowards!!! What do u think will change if u guys dont line up ur buncha thieving politicians and shoot them "one by one"? Ur country will NEVER develop or rise as long as u guys dont stand up to the occasion and chase those thieves in govt away!!!

Why can't we adopt a positive attitude towards criticism ? Obama was facing criticism even before he was sworn in as president, did it mean they regretted voting him in ?
Yardua should have handed over to Jonny from day one and that is why we're celebrating the triumph of Jonathan not cos He's seen as a saviour. If anything Yaradua has got more integrity than Jonny but it doesn't make what he did right in any way or manner you look at it. The onus is on us to make sure every move the new man makes is critically looked at to ensure we get value for our money.

LET THE LOOTING BEGIN!!!!!!



I bet Jonathan has Ibori on speed-dial.


$2billion!!!! Damn, that's how many more fat bellys growing? 20, 30? maybe?

rethink:

@Mbulela

yes what did he do in Bayelsa state? answer the question.
And all the bunch are the same?

You have just signed a check that will help make leading nigeria out of its problems MORE DIFFICULT. will tell you how.

WHEN YOU EXPECT NOTHING YOU GET NOTHING
IF YOU DID THE REVERSE AND SAY WHAT YOU WANT HIM TO DO EVEN YOU HAVE TO SAY IT A GAZILLION TIMES IT DOES NOT MAKE YOU LESS OR MORE A NIGERIAN.

@mubulela again

GOODLUCK IS JUST ONE MAN AND HE CANT BY HIMSELF CHANGE THE WHOLE 200MILLION NIGERIAN OR FORCE YOU TO HELP HIM THINK DIFFERENTLY

Yaradua Corrupt? well you have made it easy for any leader to come in and have a free day and go. Why? because you just EXPECTED NOTHING AND IT IS YOUR UNALLIENATED RIGHT TO GET NOTHING.


you just told the whole world that you have no hope in your countrymen. SO IF YOU ARE DISSAPOINTED WHAT SHOULD WE DO TO YOU? YOU ARE ONE OF THE NIGERIANS THAT HAVE A DEGREE IN PESSIMIOLOGY. SOME NIGERIANS THINK BY HOPING FOR ZERO AND A LOT IT FOR THAT MATTER THE MAY HAVE SUCCESS. ALOT OF THE PARASITIC ELITES NEED PEOPLE LIKE YOU.



You seem to be the leader of the BRUTE FORCE reread all you posted and you will see that you brutalize their minds to hope for nothing. There are lot of nigerians reading on this sites and they read all you say it enters into their minds NOT TO EXPECT NOTHING so the RESULTANT is that the leaders think OF NOTHING AND WILL DO NOTHING.

YOU ARE LIKE A DOCTOR TELLING THE PATIENT BLATANTLY THAT THE PATIENT WILL DIE OF MALARIA IF THAT PATIENT WAS WISE HE SHOULD SHOUT FOR HELP TO BE SAVED FROM YOU BECAUSE YOU ARE WORSE THAN THE DISEASE.


YOU JUST SENTENCED 200 MILLION OF US NIGERIANS. YOU CALLED US BARBARIANS. FINE, YOU HAVE THE RIGHT TO DO SO. YOU HAVE THE RESPONSIBILITY TO SHOW US WE ARE BARBARIANS


GOD BLESS NIGERIA AND ITS PEOPLES

I will start from the barbarian talk.I am referring to the thieving elite that have constituted themselves into a cabal that holds the rest of the 200 million (where did you get that stat from?) to ransom.It is obvious that the rest of the country did not vote for Turai's cancer hospital fund raising.

Secondly, i think you are reading too much motivational crap.all this your GOD BLESS NIGERIA AND ITS PEOPLE does not wash with me.Such phrases do not change much,it is only when backed with action that the status quo is altered.

What did he do in Bayelsa?What did he not do?
I expect nothing until concrete steps are taken to change the system.I am not deluded and easily excited by these goons in power. Neither am i moved by the ethnic jingoisms that permeate the air.the ruling elite belong to one tribe and exchanging one for the other makes no difference.This man Jonathan does not have the guts to betray his constituents.
Until there arises a Pharoah who does not know about Joseph, we are stuck.

Shoot2Kill:

Hahahahahahahahaha, where is beaf and his Niger Deltans associates?

I told you fools when you were rejoicing that you will soon start crying.What some of these morons on nairaland forget is that Nigeria has five major tribes now :

Politiicians

Yoruba

Hausa

Igbo

Niger Delta*

Politicians are a tribe on their own,you fools started praising Akinluuyi because she submitted a dumb memo at the very last minute.LOL Nigerians ! very unintelligent set of people.

Give me 24hrs with all these monkeys and i will execute them one by one even Akinluyi because they are birds of the same feather.Don't worry PDP i am coming back soon and i am coming with trouble.

I pity you. Is Goodluck Jonathan the same as the Niger Delta problem? Is he the embodiment of ND deprivation, seized lands and waterways, polluted land and water, dreadful cancer and respiratory decease risks etc?
I don't see the connection, but if you think you do, your thought processes are thoroughly faulty; reading this should fix any wrong-mindedness on your part http://en.wikipedia.org/wiki/Critical_thinking

I think rethink made a lot of sense and mbulela is just a blabber who would also criticise himself and not believe that he can solve our problems even if he is made President.
Truth be said all dis money shld hav bin shared a long time ago but Jo just used it as a tool pls look at d post again where it said that an Abuja high court asked him to carry out presidential functions but not to act as president was just been sarcastic and telling d same govs who said there was no vacum to feel d absence of the man.
I hav said it a lot of times in this forum that Jo didn't need a letter to act as president all Jo wanted was for all and sundry to know dat he is truly d actin president most especially wen he was convinced that the man will be away for a long time and this is y I hail him as d grandest politician in our clime.
Approval of funds does not mean stealin money, money must be shared and the onus is for the people employed to fight corruption ensure dat d funds are not mismanaged at least nobody will close his shop to business because there are thieves in d neighbourhood, history will always be there to judge leaders.
I rest my case like rethink and say God bless Nigeria and have mercy on us we have come this far becauase of God

^^^^
You are a bigger blabber and obviously gullible.

@ Edoyad, well said. I thinks we a rushing in too quickly and judging, let us give the guy some time to settle. The important thing is that we got some sort of victory, which shows that with constant pressure and good direction we can achieve what we want.

This is just step 1, the even bigger challenge, but in my opinion doable is ousting PDP out for power. PDP remains the biggest threat to progress in Nigeria. I have always said that. This is a praty made up of same old politicians that plundered Nigeria in the first dispensation, this is just NPN is a different cloth. Check all the somewhat progressive states, none is being run by PDP.

I have often argued that we must all come together to chase them out of office, this is what happens in any progressive democracy, if the party aint performing, kick them out. Nigerian n ow have true justification for doing that, I would like to find a single Nigerian who is prepared to support them, except you are eating from the same bowl with them. The AC's, and ANPP's really need to seize on this opportunity and present a credible and popular candidate. And Nigerians really need to get behind them, if not I am afraid come 2011 it will be PDP as usual.

Just like you guys have stated, they are all cut from the same cloth.

Looting frenzy

Beaf:

I pity you. Is Goodluck Jonathan the same as the Niger Delta problem? Is he the embodiment of ND deprivation, seized lands and waterways, polluted land and water, dreadful cancer and respiratory decease risks etc?
I don't see the connection, but if you think you do, your thought processes are thoroughly faulty; reading this should fix any wrong-mindedness on your part http://en.wikipedia.org/wiki/Critical_thinking

You be solid Olodo.No be you dey rejoice when dey make Jonathan acting presdient.Now you dey deny am.Stick to your guns my man don't be flip flopping like OBAMA . 

Jonathan will be worse off than Yara Dua.Please record this comment and post in future if i am wrong!

The first sign of his bad governance is firing the AGF only to rehire him a few hours later .In which country is that ever done! 

Jonathan is a looting chicken! Have you forgotten his 7 billion Naira home?

Goodluck Jonathan - I am not sure about you to be honest!
Off all the problems Nigeria is enmeshed in, sharing excess funds is the first thing to do?
I pity Nigeria!!

mbulela:

What did he do in Bayelsa?
I hope no one is getting over excited.This man is not different from the rest of the bunch.

Peach. . . .

the fact that we have excess money to share to keep this politicians happy is our major problem.We have serious problem and nothing will be said about them but we hear of billions shared on daily basis.At least half of these money will go to their pockets and the Nigerian episode continues.

what else do we expect from the bunches of i d i o t s parading themselves as democrats whereas none among them is better than the other.this remind me of atiku vs obj case where everyone was praising atiku for disrupting obj 3rd term ambition,this made him popular not because he is the messiah we needed but for the fact that he could stop a more tactical obj from realising his agenda.this is the same case with jonathan who became acting president when the country is almost upside down but right now we are beginning to see that he's not really the messiah we are expecting.may God help nigeria.

Shoot2Kill:

You be solid Olodo.No be you dey rejoice when dey make Jonathan acting presdient.Now you dey deny am.Stick to your guns my man don't be flip flopping like OBAMA . 

Jonathan will be worse off than Yara Dua.Please record this comment and post in future if i am wrong!

The first sign of his bad governance is firing the AGF only to rehire him a few hours later .In which country is that ever done! 

Jonathan is a looting chicken! Have you forgotten his 7 billion Naira home?

I rejoiced like every other Nigerian and am still rejoicing. But a donkey like you thinks Jonathan is President of the Niger Delta. Sorry, he is the President of The Federal Republic of Nigeria and only a person like you will bring the Niger Delta into it. Olodo!
You might deslike or hate the Niger Delta, but that shouldn't come into the current discussion, which is about national politics.

Listen to yourself waxing brainless again;

Shoot2Kill:

Hahahahahahahahaha, where is beaf and his Niger Deltans associates?

I told you fools when you were rejoicing that you will soon start crying.What some of these morons on nairaland forget is that Nigeria has five major tribes now :

Politicians

Yoruba

Hausa

Igbo

Niger Delta*

Politicians are a tribe on their own,you fools started praising Akinluyi because she submitted a dumb memo at the very last minute.LOL Nigerians ! very unintelligent set of people.

Give me 24hrs with all these monkeys and i will execute them one by one even Akinluyi because they are birds of the same feather.Don't worry PDP i am coming back soon and i am coming with trouble.

Beaf d problem is not Yaradua or Goodluck there is no question of who wil be worse they are one and the same Jonathan wil continue wit wat Yaradua has started my only praya is dat they allow him work and he shld earn d party ticket as dis wld also show that we are on d match towards progress and true democracy witout ethnic sentiments.

marvix:

Beaf d problem is not Yaradua or Goodluck there is no question of who wil be worse they are one and the same Jonathan wil continue wit wat Yaradua has started my only praya is dat they allow him work and he shld earn d party ticket as dis wld also show that we are on d match towards progress and true democracy witout ethnic sentiments.

Exactly!
Let's tell that to folk like Shoot2Kill.