- Nigeria’s gross government revenues rose for the second consecutive month in June to N485.95 billion ($2.44 billion), up 33 percent from May, the finance ministry said.
- The total for distribution to the three tiers of government was N518.542 billion including a N6.33 billion refund by the state oil company, value-added tax of N64.99 billion and an exchange rate gain of N6.69 billion.
- In May, Nigeria received N324.06 billion in revenues and distributed N409.35 billion between the federal, state and local governments.
- The balance of the Excess Crude Account stood at $2.207 billion, up from $2.078 billion on June 23.
- Anastasia Daniel-Nwoabia, permanent secretary of the finance ministry, said revenues were negatively impacted by a shutdown of pipelines feeding the Nembe and Forcados crude export terminals.
- Shell declared force majeure on exports of the Forcados crude stream in early May due to leaks on the main pipeline. The force majeure was lifted in mid-July.
Government Revenue Up 33%, Rises for Second Straight Month
