The Accountant-General of the Federation, Shamsedeen Ogunjimi, on Thursday disclosed that Nigeria’s Excess Crude Account (ECA) stood at $535,823.39 as of August.
He gave the update at the National Economic Council (NEC) meeting chaired by Vice President Kashim Shettima.
The ECA, created in 2004 under former President Olusegun Obasanjo, serves as a buffer for oil revenues above budgetary benchmarks to protect the economy from crude price fluctuations.
As of April 2025, the ECA balance was $473,754.57.
Ogunjimi, represented by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, further reported that the Stabilisation Account holds ₦78.45 billion, while the Natural Resources Account stands at ₦106.73 billion.
Meanwhile, NEC launched the framework for the Renewed Hope Development Plan (2026–2030), designed to consolidate reforms and support President Bola Tinubu’s $1 trillion economy target.
According to the Vice President’s media aide, Stanley Nkwocha, Shettima said the plan would build on existing policies, ensure continuity, and align national growth with the Nigeria Agenda 2050.
He added that the transition from the expiring National Development Plan (2021–2025) to the Renewed Hope Plan (2026–2030) was crucial for sustaining economic growth and consolidating reforms.
