Nigeria’s Revenue Drops To N806billion

Channels Television  
Updated July 8, 2013

The total amount of revenue generated by the federal government of Nigeria declined by 14.7 per cent to N805.91 billion in April this year.

That’s according to the April release of the monthly economic report of the Central Bank of Nigeria.

The report shows that although the amount was below the provisional monthly budget estimate, it exceeded the receipt in the preceding month by two per cent.

The gross federally collected revenue also fell by 10.7 per cent and this is as a result of the drop in non-oil revenue during the review period.

Oil receipts, which was 77.1 per cent of the total revenue was below the provisional monthly budget estimate by 3.7 per cent, but exceeded the level in the preceding month by 4.3 per cent.

This decline is relative to the monthly budget estimate reflected, largely, the low receipts from corporate tax, customs and excise duties and independent revenue of the federal government.