Nigeria’s excess crude account held $325 mln on Nov 20 -accountant general

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ABUJA, Nov 21 – Nigeria’s excess crude account stood at $324.54 million as of November 20, the accountant general said on Thursday.

Ahmed Idris gave the figure during a meeting of the country’s National Economic Council. The oil savings account, which holds dollar reserves from sales of crude above the assumed benchmark price, contained $1.92 billion as of June 2018.

The council also resolved to invest $250 million in the country’s sovereign wealth fund and consider ways it can leverage a portion of the country’s pension assets for co-investment with the fund.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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