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- Nigeria - Excess Crude Account
Nigeria - Excess Crude Account
Company Web-site www.fmf.gov.ng
Country Nigeria
Assets $Billion $11
Inception 2004
Origin Oil
Approx wealth per citizen $74
Company Description
The Excess Revenue Account is for revenue derived from Crude Oil Sales, Petroleum Profit Tax (PPT) and Royalties over and above the budgeted benchmark of the Federal Government of Nigeria for each year. There are two types of these excess revenue accounts; the Foreign Excess Revenue Account, which is maintained in the United States Dollar, and the Domestic Excess Revenue Account, which is in Naira.
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