THE Nigeria Employers’ Consultative Association (NECA) has urged state and local governments to account for the N10.4 trillion distributed to them from resources generated following the removal of the petrol subsidy.

Director-General of NECA, Adewale-Smatt Oyerinde, made the call in an interview on Channels Television’s Sunrise Daily, on Thursday following the disclosure by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, that the removal of the petrol subsidy mobilised N15.8 trillion for the country between June 2023 and December 2025.

Oyedele, on Wednesday, revealed that the Federal Government received N5.4 trillion of the amount, while N10.4 trillion was shared among state and local governments through the Federation Account.

But, NECA director general said the disclosure had placed an obligation on state governments, particularly their commissioners for finance, to explain how the funds received had been utilised.

“Absolutely. I think it should trickle down. The commissioners of finance in states, you come out and also say, this is how much we’ve received; this is how much we have spent,” he said.

Oyerinde likened the need for public accountability to the way private businesses report their financial performance to shareholders.

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“We believe strongly that as private businesses, at the end of the year, you audit your accounts, you present your scorecard to your shareholders to gauge what we have done. The minister of finance has led the way now, and the states also should follow,” he said.

The NECA boss urged state governments to disclose how much they had received, the challenges they faced and how the funds had been spent.

“And so this is how much we have received. These are the constraints we face, and this is how we have expended this amount. I think we should move progressively towards transparency in government,” he said.

Oyerinde commended the Federal Government for allowing the minister of finance to publicly provide details of the government’s finances, describing the move as a step towards greater transparency. He said the level of detail provided by Oyedele would enable citizens and other stakeholders to scrutinise government spending better.

According to him, greater disclosure would also make it easier for citizens to engage state and local governments constructively on how public funds were being used.

“I also put citizens, and I must say this, citizens are also in a good position now to engage constructively, engage the state governments constructively, and also engage local governments constructively, because that is where development should actually start,” Oyerinde said.