The Accountant-General of the Federation, Shamseldeen 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."