The Accountant-General of the Federation, Shamsedeen Ogunjimi, on Thursday said Nigeria’s Excess Crude Account stood at $535,823.39 as of August.
Ogunjimi disclosed this at the National Economic Council meeting chaired by Vice-President Kashim Shettima.
The ECA was created in 2004 under former President Olusegun Obasanjo to serve as a financial buffer, allowing the country to save oil revenues above budgetary benchmarks and cushion the economy against fluctuations in global crude prices.
As of April 2025, the ECA balance was $473,754.57. Giving an update on account balance, the AGF, who was represented by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said, “Excess Crude Account is $535,823.39; the Stabilisation Account is N78,453,757,583.19; and the Natural Resources Account is N106,727,969,527.59.”
Meanwhile, NEC unveiled the framework for the Renewed Hope Development Plan (2026–2030) aimed at consolidating Nigeria’s reform agenda and actualising the $1tn economy target of the administration of President Bola Tinubu.
