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.