The Accountant-General of the Federation, Shamsedeen Ogunjimi, has disclosed that Nigeria’s Excess Crude Account (ECA) stood at $535,823.39 as of August 2025.
Ogunjimi made the disclosure at the National Economic Council (NEC) meeting on Thursday, chaired by Vice President Kashim Shettima. He was represented by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
The ECA, created in 2004 under former President Olusegun Obasanjo, was designed as a financial buffer to save oil revenues above budgetary benchmarks and cushion the economy against fluctuations in global crude prices.
As of April 2025, the ECA balance was $473,754.57, reflecting a modest increase in four months.
Providing updates, Ogunjimi said:
- Excess Crude Account: $535,823.39
- Stabilisation Account: ₦78,453,757,583.19
- Natural Resources Account: ₦106,727,969,527.59
Meanwhile, the NEC also endorsed the framework for the Renewed Hope Development Plan (2026–2030), aimed at consolidating Nigeria’s reform agenda and achieving President Bola Tinubu’s $1 trillion economy target.