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Sovereign Wealth Funds Briefing - Categorized | Market, People

Minister explains plan to abolish excess crude account

Posted on 10 March 2011

From 234next.com: The Minister of Finance, Olusegun Aganga, yesterday explained why the Federal Government plans to abolish the excess crude account (ECA) established by the Olusegun Obasanjo administration.
The account, opened in 2004 following a fiscal policy decision to check the negative impact of the swings of crude oil prices at the international oil market on government expenditure, was to help create savings from excess crude earnings for the country……………………………………….Full Article: Source


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