How billions of naira go down the drain - Ecological Funds
Below is a break down of mismanaged funds released for ECO projects, projects fully paid for are substandard and abandoned while the treats continue.
How billions of naira go down the drain - Ecological Funds
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N48BN – Amount set aside yearly by Nigeria between 2007 and 2015, as Ecological funds.
N433 billion – Total amount accrued to the Fund during this time.
N246BN (57%) – Total amount realized in four years, between 2011 and 2014.
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N2.2BN – Cost of 8 projects, 6 of which were uncompleted but listed by the EFO as completed in 4 North Eastern states.
N427M – Approved for FECP construction in Ganye. Project was below standards.
N224M – Approved for FECP construction in Shagari Estate. Project was below standards.
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N442M – Approved for construction of FECP in 2007 for four villages Baraza, Kardam and Brazil & Dass
N320M – Approved for construction of FECP to link three villages Bundot, Dot and Bazali.
N352m – Approved for drainage construction in Makera, to be completed in June 2009. Delayed till 2014.
N138 – For FECP in Ashaka, to be built between Oct 2008 & Aug 2010, project doesn’t exist.
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N384M – For Bogo-BCG Gully Erosion control. Project Abandoned.
Funds were doled out to government MDAs including the military, for projects that were not ecologically related.
N217 billion – Total accrued to the Fund between 2007 and 2011.
N33BN – Total amount accrued to the Fund in 2007.
N6.8BN – Doled out by Obasanjo/Yar-Adua governments for FCDA projects in 2007
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N141.5 billion – Total accrued to the Fund between 2009 and 2011.
N94BN – Amount withdrawn by government same year to fiancé its budget deficit.
EFO – Ecology Fund Office | FECP – Flood Erosion Control Project | FCDA – Federal capital Development Agency
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