The Accountant General of the Federation, Ibrahim Dankwanbo says the excess crude oil account has a balance of $1.9 billion plus the Sovereign Wealth Fund of $1 billion dollars bringing the total to about $3 billion.

The Accountant General who said this after this month's Federation Account Allocation Committee (FAAC) added that the excess revenue account has a balance in excess of N50 billion while the excess domestic crude also has balance in excess of N50 billion.

Mr Dankwanbo said the country's reserves are going up as a result of better revenue the country has experienced in the last month

On her part, the Minister of State for Finance, Yabawa Wabi explained that a total of N407.5, billion was shared among the three tiers of government in the month of November 2010

The gross revenue for the month of November is higher by N106.76 billion over the previous month of October as a result of higher crude oil prices in the international market which is more that the $60 per barrel used in the 2010 budget.

This is the last Federation Account Allocation Committee meeting for the year 2010.