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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Management/Administration

Nigeria: Govs demand $4bln from Excess Crude

Posted on 29 July 2009

From Thisdayonline.com: State governors are mounting intense pressure on the Federal Government to share at least $4 billion from the savings in the Excess Crude Account (ECA) among the three tiers of government.
The account, which was created by the government of ex-President Olusegun Obasanjo in 2003, is where the difference between budget benchmark price for oil and the actual market price is saved………Full Article: Source


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