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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Excess crude account to hit $10bln in 2013: Okonjo-Iweala

Posted on 17 October 2012

The Minister of Finance and Coordinating Minister for the economy, Dr. Ngozi Okonjo-Iweala, has predicted that the nation’s Excess Crude Account would rise up to $10 billion by early 2013. “I strongly feel, and I have shared with the governors, with Mr. President and vice-president who fully support that the Excess Crude Account must be built up to 10 billion dollars. We should strive to do that in the next few months and we keep that as buffer,” she said.
According to her, if the account is built up to 10 billion dollars and it is not touched for a while, it will serve as buffer………………………………………..Full Article: Source


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