| The World Bank has advised the federal government to increase its fiscal buffers by raising the excess crude account (ECA) to $6.3 billion. Finance Minister, Dr. Ngozi Okonjo-Iweala, disclosed this in Washington DC, saying the World Bank tasked the Federal Government on the need to increase its fiscal buffers by building external reserves to about $6.3 billion, up from the present level of $4.1 billion.
Speaking to Nigerian journalists at the end of the 2014 annual meetings, Okonjo-Iweala assured: "we would look at how we would strengthen the buffer. There is no cause for alarm; we are on top of the game. We have to be realistic about our ability to spend."..............................................Full Article: Source
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