Nigeria's Federally Collected Revenue Declines By 13.42 Percent

Crude oil and non-oil income has cut Nigeria’s gross federally collected revenue in May 2017 by 13.42 per cent to N458.42 billion. 

Specifically, Nigeria’s crude oil earnings decreased from the N292.82 billion it recorded in February to N238.09 billion in May.

With Nigeria’s capital expenditure put at N2.24 trillion and a large potion of it expected to come from the oil and gas sector, financing the 2017 budget will be a challenge for the Nigeria government.

The country’s Federally generated monthly revenue was however, lower than the receipt in April 2017 by 13.4 per cent, reflecting decline in both oil and non-oil revenue components.
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