The Accountant-General of the Federation, Shamsedeen Ogunjimi, has disclosed that Nigeria’s Excess Crude Account (ECA) now holds a balance of $535,823.39 as of August 2025.
Ogunjimi, represented by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, revealed the figures on Thursday during the National Economic Council (NEC) meeting presided over by Vice-President Kashim Shettima.
The ECA, established in 2004 under former President Olusegun Obasanjo, was designed as a savings buffer to store oil revenues above budgetary benchmarks and shield the economy from volatility in global crude oil prices.
According to the AGF, the account grew from its April 2025 balance of $473,754.57 to the current $535,823.39. He also gave updates on other federal savings accounts, stating that the Stabilisation Account stands at ₦78.45bn while the Natural Resources Fund holds ₦106.73bn.
Meanwhile, the NEC unveiled the framework for the Renewed Hope Development Plan (2026–2030), which aims to strengthen ongoing reforms and push the Tinubu administration’s goal of achieving a $1 trillion economy.
In a statement issued by the Senior Special Assistant to the President on Media and Communications (Office of the Vice President), Stanley Nkwocha, Shettima stressed that the new plan is intended to ensure policy continuity, consolidate gains, and align Nigeria’s medium-term growth with the broader Nigeria Agenda 2050.
“The expiration of the National Development Plan 2021–2025 has made it necessary to design its successor—the Renewed Hope Plan 2026–2030—which will play a critical role in sustaining Nigeria’s economic direction and deepening ongoing reforms,” Shettima said.
