FG disburses N14bn for ecological projects in six months

The Federal Government has disbursed about N14bn from the Ecological Fund for various ecological projects across the country within the last six months.

The Permanent Secretary, Ecological Fund Office, Mrs. Ibukun Odusote, confirmed the development in Abuja on Tuesday.

The Federal Government established the Ecological Fund through the Federation Account Act of I981 in order to have a pool of Fund that would be solely devoted to funding of ecological problems. Decree 36 of 1984 and 106 of 1992, as well as the Allocation of Federation Account Modification Order of 2002 subsequently modified the Act.

The Fund, which originally constituted one per cent of the Federation Account, was upwardly reviewed to two per cent in 1992. Later, one per cent of the derivation allocation was added, thus bringing the total figure to three per cent.

Of this amount, 48.5 per cent goes to the Federal Government while 24 per cent and 20 per cent are for states and local governments respectively. From 2008 till date, about N3bn has so far been disbursed from the Fund.
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