Nigeria's Minister of State for Finance, Yerima Ngama, has announced that the country’s saving in excess crude account (ECA) is now stood at about $9.242 billion.
The minister made this known at the meeting of Federation Account Allocation Committee (FAAC) in Abuja.
According to the minister of state, the saving in excess crude account can stabilise the country for the next three months in case of emergency.
Meanwhile the three tiers of government have shared a total revenue of N567.708 billion for the month of December.
Out of the amount, Federal Government received N217.425 billion, the states shared N110.281 billion and local government councils shared N85.022 billion while N49.705 billion went to oil and gas producing states as derivation fund.
Yerima attributed the growth in revenue to the higher export sales volume in November.
He also expressed concern that crude oil production and lifting had also encountered several disruptions following increased bunkering activities and ongoing maintenance work.