The National Economic Council (NEC) has disclosed that the Excess Crude Account (ECA) balance stood at $60.85 million as at June 16, 2021.
This represents a decrease of 15.9 per cent in the ECA balance compared to $72.4 million recorded as at May 18, 2021.
Minister of State for Budget and National Planning, Mrs Zainab Shamsuna Ahmed, in her updates to the Council
also said the Development of Natural Resources Account stood at N28.2 billion as at June 16, indicating an increase of 18.98 per cent over the N23.7 billion recorded in May.
According to Ahmed, the Stabilisation Fund inched marginally from N24.7 billion in May to N24.8 billion in June.
The virtual NEC meeting presided over by Vice President Yemi Osinbajo held on Thursday at the Presidential Villa, Abuja.
Under the Nigerian Constitution, the vice president is the chairman of NEC.
The council’s meeting is held monthly to deliberate on the coordination of the economic planning efforts and economic programmes of the various levels of government.
NEC comprises the 36 state governors, the governor of Central Bank of Nigeria, minister of finance, Secretary to the Government of the Federation and other government officials whose duties hinge on the economy.