oil revenue
Nigeria’s cheap crude oil sparks fresh budget worries
Nigeria’s fragile fiscal outlook is facing new pressures as the country’s crude oil grades slumped below $68 per barrel this week, sparking renewed fears over the government’s ability to finance its 2025 budget. With global oil market volatility and domestic production shortfalls persisting, analysts warn that the development could trigger wider fiscal gaps, threaten revenue […]
Excess crude account swindles alarmingly to $535,823
Nigeria’s fiscal buffers remain under intense scrutiny as the Accountant-General of the Federation (AGF), Shamsedeen Ogunjimi, on Thursday disclosed that the balance in the Excess Crude Account (ECA) stood at just $535,823.39 as of August 2025. Ogunjimi, represented by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, revealed the figures during […]
SERAP Demands NNPCL Account for N500bn Shortfall
The Socio-Economic Rights and Accountability Project (SERAP) has raised serious concerns over the unexplained shortfall of N500 billion that the Nigerian National Petroleum Company Limited (NNPCL) reportedly failed to remit to the Federation Account between October and December 2024, according to recent findings by the World Bank. In a formal Freedom of Information request dated […]