₦airaland Forum

Shamseldeen Ogunjimi, accountant-general of the federation (AcGF), says the nation’s excess crude account (ECA) balance is $473,754.57 as of April.

Ogunjimi spoke during the 149th national economic council (NEC) meeting, chaired by Vice-President Kashim Shettima, on Thursday at the Presidential Villa, Abuja.

The ECA was established in 2004 by former President Olusegun Obasanjo to save excess oil revenues above the benchmark in the annual budget, with the overriding objective of insulating the country from economic shocks that may arise from volatility in crude oil prices in international markets.

Ogunjimi also said the stabilisation account balance stood at N63.53 billion as at April, adding that “natural resources development account balance as at April 2025 is N72,858,962,913.29”.


The current ECA balance, which has remained unchanged for several months, has been depleted over the years.

In February 2021, Zainab Ahmed, former minister of finance, budget and national planning, said the nation’s ECA balance was $72.4 million.

However, on March 23, 2023, the federation account allocation committee (FAAC) said the balance in the excess crude account stood at $473,754.57.

TimeManager:
Mr Wailer, do you have tears covered your eyes when you're reading the article?. An Article this short and written in simple English was too difficult to understand by you, what a shame!.



This current administration came to power on May 23, 2003. But we get it, as a court jester, you just want to show yourself and entertain us on a Saturday evening, that's not too bad. Make sure you tie live chickens around your waist to make it more fun for us.


-Kiss the truth!




See this one too. It seems when you guys belongs to that camp, it is mandatory to smoke weed twice in a day.

malali:
The latest ECA balance proves beyond debate: this administration is racing Nigeria to poverty at breakneck speed.
In 2021, our Excess Crude Account had $72.4 million.
In 2025, it’s now a pitiful $473,000 — almost completely wiped out.
Add the mountain of reckless borrowings and it’s clear: Nigeria is being hollowed out financially right before our eyes.

However, on March 23, 2023, the federation account allocation committee (FAAC) said the balance in the excess crude account stood at $473,754.57.

PressMyButton:
So, TimeManager made a comment to debunk the obvious lies and the low understanding of this OP and the bot deleted it, wow!. seun una no try at all. The ECA balance was $473,754.57 as at March, 2023, how then can any sensible person attribute that to an Administration that came to power in May 23?. Is this not what we have been saying about wailers?, seun.

malali:

The Accountant-General’s disclosure confirms the collapse, not conjecture.
$72.4 million down to $473k is arithmetic, not opinion.
Denial only delays collapse,nations that survive first admit hard truths.
True patriotism demands brutal honesty, not emotional deflection.

malali:
The latest ECA balance proves beyond debate: this administration is racing Nigeria to poverty at breakneck speed.
In 2021, our Excess Crude Account had $72.4 million.
In 2025, it’s now a pitiful $473,000 — almost completely wiped out.
Add the mountain of reckless borrowings and it’s clear: Nigeria is being hollowed out financially right before our eyes.

malali:

The Accountant-General’s disclosure confirms the collapse, not conjecture.
$72.4 million down to $473k is arithmetic, not opinion.
Denial only delays collapse,nations that survive first admit hard truths.
True patriotism demands brutal honesty, not emotional deflection.