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Sovereign Wealth Funds Briefing - Categorized | Performance

Nigeria’s Excess Crude Account savings double to $9 bln

Posted on 05 December 2012

Nigeria has doubled savings in its Excess Crude Account (ECA), now totalling $9 billion, amidst efforts to improve fiscal discipline and economic stability in the country. Finance Minister Ngozi Okonjo-Iweala revealed that funds in the ECA have grown to at least $9 billion, up from last year’s savings figure of $4 billion.
“We have about $9 billion in the excess crude account. Last year it was $4 billion, so it’s more than doubled,” Okonjo-Iweala said………………………………………Full Article: Source


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