The National Economic Council (NEC) has disclosed that the Excess Crude Account (ECA) balance has continued at its stable rate of $72.4 million.
The was disclosed by the Lagos State Governor, Babajide Sanwo-Olu, on Thursday, after receiving the update from the Finance Minister during the meeting which was presided by Vice President Yemi Osinbajo.
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What the NEC said about Federation Accounts for the month of May
“At today’s NEC meeting which was chaired by the vice president, I have the briefing that was presented by the Minister of Finance, Budget and National Planning.
So, they gave us a balance on the Excess Crude Account (ECA) and the balance as at May 18 stood at 72.4 million dollars and on the Stabilisation Account, it is N24.7 billion as at May 18.
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Finally, on the Development of Natural Resources, the balance as at May 20 stands at N23.7 billion.
Those are the figures that the Minister of Finance, Budget and National Planning gave at the council today,’’ Governor Sanwo-Olu said.
In case you missed it
- The Nigeria Sovereign Investment Authority (NSIA) revealed that it recorded a total of N160.06 billion in comprehensive income in 2020, representing a 343% growth compared to N36.15 billion recorded in 2019.
- They also achieved a 33% growth in Net Assets amounting to N772.75 billion as against N579.54 billion in the previous year.
