Nigeria’s revenue drops
THE total amount of revenue generated by the Federal Government declined by 14.7 per cent to N805.91 billion in April.
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.
The gross federally collected revenue also fell by 10.7 per cent, a development caused as a result of the drop in non-oil revenue during the period under review.
This was revealed in the April edition of the monthly economic report of the Central Bank of Nigeria (CBN).