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Sovereign Wealth Funds Briefing - Categorized | Financials

Excess Crude Account to deplete further to $2.5bln

Posted on 10 December 2013

The Excess Crude Account, which has dropped to $3.3bn in recent times, may deplete further to $2.5bn as soon as certain payments are made to the oil sector, the Minister of Finance, Dr. Ngozi Okonjo-Iweala, said on Monday.
While speaking on the performance of the economy at a breakfast meeting organised by the Nigerian Economic Summit Group in Lagos on Monday, Okonjo-Iweala argued that the huge drop in the ECA was necessary in order to shore up the economy……………………………………….Full Article: Source


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