L
LequteMan
Guest
Nigeria's distributable revenue to federal, state and local governments rose by N65.15bn in January to N4765.15bn, a statement from the accountant general's office said on Tuesday.
The allocation was N400bn the previous month.
"Federation revenues increased despite the force majeure and the shut-down of pipelines for repairs and maintenance due to leakages and sabotage," said the statement.
Average oil prices rose from $47.30 to $49.57 per barrel during January, while the total crude export volume rose 1.49 million barrels, the statement said.
The 16 percent increase brought in more oil royalties, providing more money for the government.
The allocation was N400bn the previous month.
"Federation revenues increased despite the force majeure and the shut-down of pipelines for repairs and maintenance due to leakages and sabotage," said the statement.
Average oil prices rose from $47.30 to $49.57 per barrel during January, while the total crude export volume rose 1.49 million barrels, the statement said.
The 16 percent increase brought in more oil royalties, providing more money for the government.
