Buhari approves $1bn from excess crude account, to buy weapons

President Muhammadu Buhari has approved the release of $1 billion for the procurement of security equipment, to fight Boko Haram insurgency in the North East region.

The fund is to be taken from the excess crude oil account.

Buhari approved the fund release, at a meeting with top security chiefs on Wednesday, at the Presidential Villa, Abuja.

The state governors, at a meeting of the national economic council last December, had okayed the withdrawal of the fund from the excess crude account.

The minister, addressing State House correspondents after the meeting, said Buhari also ordered the security chiefs to intensify efforts in rescuing Leah Sharibu, still in the custody of Boko Haram.

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