Excess crude oil account hits $3.45 billion

20:13 09/06/2014 Lagos -  The Excess Crude Account (ECA), which stood at $2.11 billion in April, has increased by $1.34 billion, bringing the total savings in the till to $3.45 billion.

The new figure represents an increase of about 63.5 percent, reports Leadership

The Minister of Finance, Dr. Ngozi Okonjo-Iweala, confirmed the rise on in a statement issued by her Media Assistant, Paul Nwabiuku.

She said the rise in the ECA signals the federal government’s commitment to rebuilding the country’s fiscal buffers.

Read more at Leadership

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