Nigeria’s Excess Crude Account stood at $535,823.39 as of August.

This was disclosed by the Accountant-General of the Federation, Shamsedeen Ogunjimi on Thursday, during the National Economic Council meeting on Thursday, chaired by Vice-President Kashim Shettima.

The balance reflects an increase from the $473,754.57 recorded in April.

The ECA, established in 2004 under former President Olusegun Obasanjo, was designed as a financial buffer to help Nigeria save oil earnings above budgetary benchmarks and shield the economy from global oil price volatility.

Presenting the figures on Ogunjimi’s behalf, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, also disclosed that the Stabilisation Account currently stands at ₦78.45 billion, while the Natural Resources Account has a balance of ₦106.73 billion.

In addition, NEC rolled out the framework for the Renewed Hope Development Plan (2026–2030), a blueprint to advance Nigeria’s reform agenda and achieve President Bola Tinubu’s $1 trillion economy goal.

According to a statement signed by the Senior Special Assistant to the President on Media and Communications (Office of the Vice President),
Stanley Nkwocha, Council Chairman and Vice President Kashim Shettima said the new national development plan will build on existing policies, ensure policy continuity, and align Nigeria’s growth trajectory with the long-term objectives of Nigeria Agenda 2050.

He described the transition as critical to sustaining the country’s economic path and consolidating the administration’s ongoing reforms.