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Home Business News Politics

[OCTOBER DATA] Government Revenue Rises To N473.83bn

Editor by Editor
November 30, 2015
in Politics
“Forget About Oil… That Is Not Where Our Problems Lie” – New Finance Minister
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Nigeria’s distributable revenues to the three tiers of government rose in October to 473.83 billion naira, up 21.5 percent from September, boosted by higher non-oil earnings, the finance minister said.

“Non-oil revenue recorded a significant improvement in the month,” Finance Minister Kemi Adeosun said.

However, she added intermittent “shut-down and shut-in” for repairs and maintenance at different terminals “continued to impact on crude oil and gas revenue negatively”.

Adeosun also said in a statement that the rainy day fund, the Excess Crude Account, remained unchanged at $2.26 billion.

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Nigeria, Africa’s top oil producer and biggest economy, relies on crude sales for about 70 percent of its government revenues.

Source – Reuters

 

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