| In a manner consistent with the profligacy of government, Nigeria’s excess crude account has been experiencing rapid depletion despite elevated crude oil prices which currently hovers around $120 per barrel.
The excess crude account – the differentials between the Federal Government’s budget benchmark and the price of crude oil in the international market – contained about $22 billion in 2007, but despite a period of high oil prices, the account has been drained, with only $3.6 billion left as of today...............................................Full Article: Source
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