The National Economic Council (NEC) has reviewed Nigeria’s current financial standing, with an update presented on the balances of key national accounts, including the Excess Crude Account (ECA), the Stabilization Account, and the Natural Resources Fund. The update was part of the 152nd NEC meeting chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja.
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During the session, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, provided detailed figures showing the nation’s current fiscal health and resource distribution framework. The presentation highlighted the importance of fiscal transparency and the prudent management of Nigeria’s limited resources amid ongoing economic reforms under President Bola Ahmed Tinubu’s administration.
According to the report, the balances of key national accounts as of October 17, 2025, stand as follows: the Excess Crude Account (ECA) has a balance of $473,754.57, the Stabilization Account holds ₦35,905,796,954.74, and the Natural Resources Fund records ₦77,768,012,247.07.
NEC noted that while these balances reflect steady fiscal management, they also emphasize the need for greater revenue mobilization across all tiers of government. The Council urged states to strengthen their internally generated revenue (IGR) systems and ensure accountability in public spending.
Vice President Shettima reiterated the administration’s resolve to maintain fiscal discipline and transparency in managing public finances. He noted that the review of these accounts is part of broader efforts to stabilize the economy and support the federal government’s drive toward a trillion-dollar economy.
“The economic reality calls for prudent financial planning, and we must ensure that every naira and dollar is put to effective use. Fiscal discipline and accountability remain central to this government’s approach to economic governance,” Shettima stated.
The finance minister, Wale Edun, informed Council members that ongoing fiscal and monetary reforms are gradually improving revenue flows and reducing leakages in the system. He added that the federal government continues to work with subnational entities to harmonize fiscal frameworks and ensure equitable resource allocation.
NEC also discussed the impact of the revenue allocation formula and emphasized the need for continuous monitoring of federation account inflows. The Council encouraged collaboration between the Nigerian National Petroleum Company Limited (NNPCL), the Federal Inland Revenue Service (FIRS), and the Nigeria Customs Service (NCS) to strengthen revenue collection mechanisms.
In addition, NEC reaffirmed that the federal government’s focus remains on achieving macroeconomic stability, reducing inflation, and promoting investment-led growth. Council members were urged to align state-level fiscal policies with the Renewed Hope Agenda to ensure nationwide consistency in economic reform implementation.
Members of the Council commended the Ministry of Finance for ensuring transparency in reporting and for maintaining open communication with state governments on the financial health of the nation. They agreed that periodic review of these accounts is essential to inform planning, budgeting, and project prioritization across all levels of government.
