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Sovereign Wealth Funds Briefing - Categorized | People, Performance

Nigeria: Excess Crude Account not growing enough - Okonjo-Iweala

Posted on 17 May 2012

Nigeria’s Excess Crude Account is not growing as it should because of bunkering activities in the Niger Delta causing shortage in oil production output, the Minister of Finance and the Coordinating Minister of Economy has said.
Dr. Ngozi Okonjo-Iweala told Daily Trust that oil bunkering is affecting revenue projection for the year. The Excess Crude Account has risen from $3.6 billion last month to $4.2 billion currently, but the minister said the balance in the account should be higher because price of oil at the international market is rising………………………………………..Full Article: Source


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