Nigeria's Excess Crude Account Poorly Managed - Report
The country's excess crude account which saves excess revenue generated from the current oil price, has been ranked as the most poorly-governed among similar funds operated by resource-rich countries in Sub-Saharan Africa, a report by the Natural Resource Governance Institute has said.
(file photo)
InFocus
-
The Nigerian National Petroleum Corporation has explained that the decision was part of a major effort to enshrine transparency and eliminate the activities of middlemen in its ... Read more »
-
The Senate has called for the abolition of the Excess Crude Account set up in 2004 by former president Olusegun Obasanjo. The account was set up to provide savings for the country ... Read more »
-
The New People's Democratic Party has challenged the Nigerian government to account for U.S. $5 billion allegedly missing from the country's Excess Crude Account. Read more »