Nigeria’s Excess Crude Account (ECA) currently holds a balance of $473,754.57, Finance Minister Wale Edun announced on Thursday.
Edun disclosed the figure while briefing State House reporters after the National Economic Council (NEC) meeting at the Presidential Villa in Abuja.
The meeting, chaired by Vice President Kashim Shettima, also reviewed the balances of other national accounts, including the Stabilization Account and the Natural Resources Account.
Edun revealed the following figures during his address: Excess Crude Account: $473,754.57
Stabilization Account: ₦33,727,191,212.94
Natural Resources Account: ₦28,275,747,874.93
The Excess Crude Account, established to save oil revenues above budgeted benchmarks, has significantly remained the same in the past six months, raising concerns about fiscal prudence and savings for future economic challenges.
Credit: westernpost.ng
