Accountant-general of the federation (AcGF), Shamseldeen Ogunjimi, has disclosed that the country’s excess crude account (ECA) balance is $473,754.57 as of April 2025.
He made this known during a presentation to the 149th national economic council (NEC) meeting, chaired by Vice-President Kashim Shettima, on Thursday at the Presidential Villa, Abuja.
He further disclosed that the stabilisation account balance was currently at N63.53 billion while the natural resources development account balance as at April 2025 was N72,858,962,913.29.
The ECA was established in 2004 to save excess oil revenues above the benchmark in the annual budget. The objective is to insulate the country from economic shocks that may arise from volatility in crude oil prices in international markets.
The current ECA balance, which has remained unchanged for several months, has been depleted over the years.
In February 2021, former minister of finance, budget and national planning, Zainab Ahmed, said the nation’s ECA balance was $72.4 million.
On March 23, 2023, the federation account allocation committee (FAAC) said the balance in the excess crude account stood at $473,754.57.
