The Federal Government has said the country’s Excess Crude Account (ECA), balance as at 20th January, 2021 is $72,411,197.80 ( N27,603,148,601.36).

The Minister of Finance, Budget and National Planning, Zainab Ahmed disclosed this at the first National Economic Council meeting of the year presided over by Vice President Yemi Osinbajo, SAN, with State Governors, Federal Capital Territory Minister, Central Bank Governor and other senior government officials in attendance.

Ahmed also added that the Stabilization Account, balance as at 19th January, 2021 was N28, 800, 711,295.37; Natural Resources Development Fund Account, balance as at 19th January 2021, N95, 830,729,470.82.

She however noted that President Muhammadu Buhari approved the release of N6.45 billion for the production of oxygen, necessitated by the increased number of patients who need oxygen due to the surge in Covid-19 infections in the country.