L
LequteMan
Guest
For the first time in ages, Nigeria's revenue from non-oil exports have exceeded revenue generated from exportation of crude oil.
In April 2015, Nigeria's non oil revenue accounted for 61.1 per cent of total federally-collected revenue with N448.83 billion, a CBN's economic report for April 2015 says.
Earning from the petroleum sector dropped to N286.24 billion, indicating that the low price of crude oil in the international market has continued to take its toll on the nation’s economy.
Gross non-oil receipts was above the monthly budget estimate and the level in the preceding month by 23.9 and 154.1 per cent, respectively. The increase in non-oil revenue relative to the monthly budget estimate reflected largely, the increased receipts from the FGN Independent Revenue.
At N735.07 billion, estimated federally-collected revenue in April 2015, was lower than the monthly budget estimate by 9.8 per cent. It was, however, higher than the receipt in the preceding month by 35.8 per cent.
In April 2015, Nigeria's non oil revenue accounted for 61.1 per cent of total federally-collected revenue with N448.83 billion, a CBN's economic report for April 2015 says.
Earning from the petroleum sector dropped to N286.24 billion, indicating that the low price of crude oil in the international market has continued to take its toll on the nation’s economy.
Gross non-oil receipts was above the monthly budget estimate and the level in the preceding month by 23.9 and 154.1 per cent, respectively. The increase in non-oil revenue relative to the monthly budget estimate reflected largely, the increased receipts from the FGN Independent Revenue.
At N735.07 billion, estimated federally-collected revenue in April 2015, was lower than the monthly budget estimate by 9.8 per cent. It was, however, higher than the receipt in the preceding month by 35.8 per cent.
