Minister of Finance, Budget and National Planning, Zainab Ahmed has reported that the balances of the Excess Crude Account ECA amount to $72,410,574.08 as of December 17, 2020, while the Stabilization Account has a balance of ₦26,433,355,427.91.

 She said that the Development of Natural Resources Account has a standing balance of ₦156,690,002,234.58.

There was, however, no update on Budget Support Loan Facility as deductions have been suspended due to Covid-19.

The Excess Crude Account stood at $324.54 million as of November 20, 2019, the Accountant General Ahmed Idris had said.

He gave the figure during a meeting of the National Economic Council.

 The oil savings account, which holds dollar reserves from sales of crude above the assumed benchmark price, contained $1.92 billion as of June 2018.

The Council also resolved to invest $250 million in the country’s Sovereign Wealth Fund and consider ways it can leverage a portion of the pension assets for co-investment with the fund.


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