The balance in Nigeria’s excess Crude Account (ECA) is $72.41 million as of May 18, 2021, about the same as in April 2021
Despite the consistency from the previous month, the May level is 78 percent lower than $324.97 million as at December 2019.
This was disclosed by the Lagos State Governor, Babajide Sanwo-Olu, following the National Economic Council (NEC) chaired by Vice President Yemi Osinbajo, SAN on Thursday.
According to Sanwo-Olu, “At today’s NEC meeting which was chaired by the vice president, I have the briefing that was presented by the Minister of Finance, Budget and National Planning.”
“So, they gave us a balance on the Excess Crude Account (ECA) and the balance as at May 18 stood at 72.4 million dollars and on the Stabilisation Account, it is N24.7 billion as at May 18.”
“For the Development of Natural Resources, the balance as at May 20 stands at N23.7 billion. Those are the figures that the Minister of Finance, Budget and National Planning gave at the council today,’’ Governor Sanwo-Olu told journalists.
Join the conversation
INVESTIGATION… Delay rocks Nigerian govt’s promise of N30,000 covid-19 relief for artisans, others
Before the outbreak of the COVID-19 pandemic in February, 2020, Chukwudi Okoroigwe’s daily earnings as a bus driver was hardly enough to cater to the...
INVESTIGATION… Ten years after, communities count losses as AfDB, Cross River govt abandon road project
Ten years after the Cross River State government and African Development Bank (AFDB) jointly awarded the Yahe-Wanokom-Wanikade-Benue border road for...
INVESTIGATION….N.3bn down the drain: Why water projects for Enugu communities don’t work
In this concluding part, ARINZE CHIJIOKE talks about some of the projects that are serving the people and how various WASH programmes have failed to tackle...
INVESTIGATION…PARKVIEW ESTATE: Exclusive images of how billionaire property developer incurred Lagos govt‘s anger
Many have seen the demolished building, but not many know the circumstances that led to the teardown of the about...
INVESTIGATION… N.3bn down the drain, as Enugu communities suffer from dry taps
In November 2020, three organizations and the Enugu State government celebrated the completion of N300 million worth of projects that were expected...