nigerias crude oil (1).webp
Nigeria’s once-robust Excess Crude Account (ECA) has dropped dramatically to just $473,754, raising fresh questions about government savings, transparency, and future resilience in tough economic times.
  • Accountant-General disclosed ECA balance now stands at $473,754.57.
  • ECA was created to save oil revenue above budgeted benchmarks.
  • In 2014, the ECA held over $4 billion — now it's under half a million dollars.
  • No clear explanation yet for the drastic depletion.
  • Concerns rise about how Nigeria will handle future oil price shocks without savings.
The Excess Crude Account was meant to be Nigeria’s safety net for rainy days — a cushion when oil prices fell or emergencies hit. Today, it’s barely enough to fund a few government projects. While officials are quick to cite withdrawals over the years, many Nigerians feel left in the dark about how billions disappeared with little to show. With no robust savings left, any future economic shocks could hit ordinary citizens harder than ever.

With so little left in the ECA, how will Nigeria cushion itself against the next global oil crisis? 🤔 Join the conversation.