Nigeria’s Excess Crude Account Shrivels to Under $500K

Posted on 07/31/2022

Nigeria relies on oil revenue to fund infrastructure. Nigeria’s Excess Crude Account (ECA) just has around US$ 376,655.09 in it as of July 25, 2022. The ECA had US$ 35.8 million in January 2022 and US$ 60 million in October 2021. The account balance in February 2014, just before Nigerian President Buhari took office, was…

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