Nigeria’s external reserves slipped to $44.519 billion as at December 9, 2013. The current value of the forex reserves represents a decline by $869 million this quarter, compared with the $45.388 billion it was as at October 2. Data compiled from the Central Bank of Nigeria (CBN) also showed the […]
Tag: Excess Crude Account
Nigeria state revenues tumble 42 pct in July due to oil outages
* July sees lowest monthly revenues this year * Oil theft hitting govt finances * Excess crude account holds $5.1 bln vs $9 bln end 2012 Nigeria’s government revenues slumped 42 percent in July due to oil theft and production outages, the accountant general said on Friday, underscoring how […]
Nigeria further depletes oil savings for spending
Nigeria will make a second $1 billion withdrawal from its Excess Crude Account (ECA) by next month to distribute to its three tiers of government for projects, reducing its oil savings to $6.82 billion, the state minister for finance said on Thursday. The figure compares with $9 billion that the […]
