L
LequteMan
Guest
Nigeria's Finance Minister, Kemi Adeosun, on Tuesday announced that government revenues fell in January to 370.388 billion naira ($1.86 billion), down from 387.777 billion naira in December, due to a drop in oil prices.
The revenue includes VAT, refunds from state oil firm NNPC and exchange gains, she said in a statement. It will be distributed to the federal, state and local authorities, she added.
"There was a slight increase in production of crude in December 2015 but the resulting income was marginal due to a 10 percent drop in crude oil prices," Finance Minister Kemi Adeosun said in a statement.
"Shut-in and shut-down of operation for repairs and maintenance continued during the period under review," she added.
Adeosun also said that the rainy day fund, the Excess Crude Account, remained unchanged at $2.26 billion.
Reuters
The revenue includes VAT, refunds from state oil firm NNPC and exchange gains, she said in a statement. It will be distributed to the federal, state and local authorities, she added.
"There was a slight increase in production of crude in December 2015 but the resulting income was marginal due to a 10 percent drop in crude oil prices," Finance Minister Kemi Adeosun said in a statement.
"Shut-in and shut-down of operation for repairs and maintenance continued during the period under review," she added.
Adeosun also said that the rainy day fund, the Excess Crude Account, remained unchanged at $2.26 billion.
Reuters
