Nigeria’s revenues drop by 4 per cent in August

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Nigerian government revenues fell to 601.6 billion naira ($3.7 billion) in August, down 4.6 percent from 630.3 billion naira in July due to oil outages, Accountant General Jonah Otunla said on Wednesday.

“Decline in revenue … was attributed to the force majeure declared by Shell and a series of shutdown of trunklines and pipelines at various terminals,” Otunla said.

Revenue to be distributed to the three tiers of government – federal, state and local – was 611.71 billion naira in August, down from 654.6 billion naira in July, he said.

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