President Goodluck Jonathan on Thursday presented shares certificates of the National Independent Power Projects to states and local governments who are jointly investing in the projects with the Federal Government.
The projects are being funded with monies from the Excess Crude Account which belongs to all tiers of government.
Jonathan formally presented the shares to state governors and the Minister of the Federal Capital Territory, Senator Bala Muhammed, before the commencement of the monthly National Economic Council meeting presided over by Vice President Namadi Sambo.
He asked them to hold the certificates in trust for the local governments. He said the Federal, state and local governments all have investments in the project based on the amount due to them in the Excess Crude Account.