₦airaland Forum

cyberbro:
2021-2025, but the current president took over in 2023... This is misleading.

I stand to be corrected though, but the math ain't mathing. 😂

malali:

Tinubu entered power March 2023. Today is April 2025------- We have 2 years of not paying oil and forex subsidy.
Oil and forex subsidy was $8.1 billion to $14.4 billion annually
Where is the money ?
Atleast Buhari paid and Nigerians enjoyed the benefit.
Tinubu is not paying subsidy. Federation account is empty. Nigerians are not enjoying any benefit.
Where is all the money going to ?

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. (Mind you, it doesn't reflect that we have not paid oil subsidy and Forex subsidy in 2 years, where are the billions saved from this ?)
Add the mountain of reckless borrowings and it’s clear: Nigeria is being hollowed out financially right before our eyes.

waternogatenemy:
U go explain tire, have u witness any government treat Nigeria with so much disregard and contempt in your life?

Somebody that boldly said on national television that he no longer watch or read the news

He said he does not care.


Do u need me to bring that clp here?

I can find it now.


Total disregard and contempt, almost like we are animals.

AndroBlaze:
Oga can you not read what you posted? When did it originally go down to $473k.....if you are still confused go back to your post and read it S-L-O-W-L -Y

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.

jubrilELsudan:
DEM TRY SEF SEY SOMETHING STILL REMAIN

Bobloco:
Where is the money we were told would be saved from subsidy removal?

Bobloco:
Where is the money we were told would be saved from subsidy removal?

Alliswell248:
U go wail tire.....

U want subsidy to remain.

Jokers....

Basicend:
The ECA balance had been like that since 2023.
It's not a new or sudden development.
Kindly try and read up the article first. Nothing is happening to the Naira.

Bobloco:
Where is the money we were told would be saved from subsidy removal?

Phnuel007:
This news basically means:

Nigeria’s Excess Crude Account (ECA) now has only $473,754.57 in it as of April 2025.

The ECA was originally created to save extra oil money (when oil prices were higher than budgeted) and protect the country against oil price crashes or other economic shocks.

But now, the account has been almost emptied — from about $72.4 million in 2021 to just less than half a million dollars.

The ECA balance hasn’t changed for months, meaning no significant savings or additions are being made.

Other accounts like the Stabilisation Account (N63.53 billion) and the Natural Resources Development Account (N72.86 billion) still have money, but the ECA — which was supposed to be a major emergency reserve — is basically dry.

In short: Nigeria's financial cushion against oil price crashes is basically gone, which could make the country vulnerable if oil revenues drop or there’s another economic crisis.

Summary:
The ECA was supposed to protect Nigeria, but years of political withdrawals, falling oil revenues, high debt needs, and weak financial discipline drained it. Now, it’s almost empty at a time when the country could still face serious global economic risks.

ALTERNATEID:
We no longer operate ECA now. All the balances have been drawn down to Sovereign wealth fund. NSWIF is now managing any excess from sales of crude and other national savings.

malali:
Buhari paid oil and forex subsidy approximately $8.1 billion to $14.4 billion annually
Money went down in the account. Nigerians enjoyed cheap petrol and cheap dollars.

Tinubu is not paying any subsidy. which is $8.1 billion to $14.4 billion being saved annually
There is no money in the account.
Nigerians are buying petrol expensive and buying dollars expensive.
Where is the money going to ?

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.

Timmi:
Oga Malali, you conveniently omitted the last statement that also stated “ However, on March 23, 2023, the federation account allocation committee (FAAC) said the balance in the excess crude account stood at $473,754.57.”

malali:
Subsidy use to cost us $8.1 billion to $14.4 billion annually.
Buhari Paid subsidy....Nigerians enjoyed the benefit.
Tinubu is not paying subsidy and there is no money in the account.
Where is the subsidy money going to ?

malali:

Tinubu entered power March 2023. Today is April 2025------- We have 2 years of not paying oil and forex subsidy.
Oil and forex subsidy was $8.1 billion to $14.4 billion annually
Where is the money ?
Atleast Buhari paid and Nigerians enjoyed the benefit.
Tinubu is not paying subsidy. Federation account is empty. Nigerians are not enjoying any benefit.
Where is all the money going to ?

anonimi:
How is Obasanjo the best president without you providing details about his comparative performance in office?

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. (Mind you, it doesn't reflect that we have not paid oil subsidy and Forex subsidy in 2 years, where are the billions saved from this ?)
Add the mountain of reckless borrowings and it’s clear: Nigeria is being hollowed out financially right before our eyes.

malali:
After reading the article, use your brain.
Buhari paid approx $8.1 billion to $14.4 billion annually in oil and Forex subsidies
Nigerians all benefited from cheap petrol and dollars

Tinubu is not paying any subsidy, and he is also collecting numerous loans.
Tinubu does not have any money in the account to show for not paying subsidy.
Nigerians are buying expensive petrol and dollars.

Where is our money going to ? Please answer that question ?

AndroBlaze:
Unku, this is the last time I am replying to you. Excess Crude Account and subsidy have nothing in common. There is no where in the Nigerian constitution that say Excess Crude Oil receipts should be used to fund subsidy...if a President chooses to do so, it is up to him.

As I said in my last post to you, money cannot enter that account unless it is the proceeds of selling Crude Oil over what we budgeted for the year. Unfortunately oil prices keep falling and we keep setting our benchmark price to high so the receipts in that account cannot grow.

EDGEof2MORO:
make I no punch your eye just now

na short term memory go wound all of una

meanwhile, this ECA is not a stagnant figure. I hope you know it can (and will) go up with time. The author is very mischeivious and picked one of the lowest reading to create this thread.

It is like taking a picture of your fuel tank when it is low, and crying that since you bought this car, the fuel has been reducing

Bobloco:
Is there actually any way to verify this claim?"

ALTERNATEID:
You’re an illiterate. Do you even understand what Excesd crude account is all about? Is it an account for keeping unpaid subsidies?

You obidients make the loudest noise yet you all are so ignorant about the processes of government. ECA is meant for saving excess proceeds resulting from sales of crude oil. That is, when crude oil prices go above budgeted benchmark, the excess is paid into the ECA.

During the Jonathan era, governors complained about the illegality of the ECA as it has no legal basis. Jonathan in response passed the Sovereign wealth fund act into law and created the NSWIF to manage any excess crude and all national savings. Since then, no kobo has gone into ECA again. The balance has been drawn down to either sovereign wealth fund or to other uses.

I hope you’re now better educated on the subject of discussion.