Nigeria’s excess crude account at $72.4 million by July 7 ~NEC
Nigeria currently has a balance of $72.40 million in its Excess Crude Account (ECA) as at July 7, 2020, according to briefing by the minister of finance and budget to the National Economic Council (NEC) on Thursday.
The minister also disclosed that the balance in the country’s stabilisation account amount to N40.31 billion as of July 7, this year.
Also, the balance in the Natural Resources Development Fund Account stood at N131.59 billion at the same period of the year.
Kaduna State Governor, Nasir El-rufai, while briefing journalists after the meeting commended the vice president Yemi Osinbajo-led Economic Sustainability Committee (ESC) for a job well-done and noted that State governors were committed to the successful implementation of the plan.
El-rufai said: “In agriculture, each state is to make available 20 hectares of land for cultivation and with the contribution of lands from States, he added that governors will appreciate land clearance as an incentive.
“In Mass housing, NEC welcomes the plan to build 300,000 housing units across the country with an average of ten thousand homes per State,” El-rufai noted while also calling for a nationwide mortgage system to support the plan.