Government Revenues Fall 4.6% in August

Federal Government  revenues fell to N601.6 billion ($3.7 billion) in August, down 4.6 percent from N630.3 billion in July due to oil outages, Accountant General Jonah Otunla said today.
“Decline in revenue … was attributed to the force majeure declared by Shell and a series of shutdown of trunklines and pipelines at various terminals,” Otunla said.
Revenue to be distributed to the three tiers of government – federal, state and local – was N611.71 billion in August, down from N654.6 billion in July, he said.

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