• Contact Us
  • About Us
Tuesday, March 28, 2023
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
Home Economy

Nigeria revenues for state and local govts up 16 pct in January

metro by metro
February 22, 2017
in Economy
0
0
SHARES
0
VIEWS

Nigeria’s distributable government revenues rose in January by 16 percent to 465.19 billion naira ($1.5 billion) as it brought in more oil royalties, the accountant general’s office said in a statement on Tuesday.

Distributable revenue is government income that is shared at various levels of state including the federal government, state governments and local government councils.

Read Also

Amid Naira Scarcity, Nigeria’s Inflation Rate Rises To 21.91%

Reprieve For  Customers Of Banks As CBN Finally Authorizes Use of Old Naira Notes

Suspense As Governor Soludo Says CBN Has Directed Banks To Dispense, Receive Old Naira Notes

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.

OPEC member Nigeria, which last year entered its first recession in a quarter of a century, relies on crude oil sales for two-thirds of its government revenue but has been hit hard by the fall in global crude prices since mid-2014.

Militants have carried out attacks on oil and gas facilities in the southern Niger Delta energy hub for a year, cutting oil production – which stood at 2.1 million barrels per day at the start of 2016 – by as much as a third, though output has since mostly recovered.

The frequency of attacks has slowed in recent months with talks between the government and Delta community leaders to address the grievances of militants, who want the oil hub to receive a greater share of the country’s energy wealth.

Repairs on damaged facilities are underway, but force majeure stoppages remain in place at the Forcados, Qua Iboe and Brass oil terminals.

“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.

 

Previous Post

Buhari to be away for longer, as Presidency says only he can disclose state of health

Next Post

Britain pledges extra $250 million to fight famine in South Sudan, Somalia

Related Posts

Amid Tight Monetary Policy Measures, Nigeria’s Inflation Rises To 21.82% 
Economy

Amid Naira Scarcity, Nigeria’s Inflation Rate Rises To 21.91%

March 15, 2023
Godwin Emefiele
Economy

Reprieve For  Customers Of Banks As CBN Finally Authorizes Use of Old Naira Notes

March 13, 2023
Suspense As Governor Soludo Says CBN Has Directed Banks To Dispense, Receive Old Naira Notes
Economy

Suspense As Governor Soludo Says CBN Has Directed Banks To Dispense, Receive Old Naira Notes

March 13, 2023
Why CBN Delaying Compliance With Supreme Court Ruling On Old Naira Notes
Economy

Why CBN Delaying Compliance With Supreme Court Ruling On Old Naira Notes

March 8, 2023
Next Post

Britain pledges extra $250 million to fight famine in South Sudan, Somalia

Confusion As FG Denies Increase In Pump Price Of Petrol, Fuel Scarcity Bites Harder 

IPMAN Berates FG’s Failed P/H Refinery Completion Promises

March 28, 2023
Biggest Strike In Decades Paralyzes  Germany’s Public Transport Network 

Biggest Strike In Decades Paralyzes  Germany’s Public Transport Network 

March 28, 2023
Court Orders Zenith, UBA, Firstbank, Wema To Appear Over N3.4bn OYSG Debt

Court Orders Zenith, UBA, Firstbank, Wema To Appear Over N3.4bn OYSG Debt

March 27, 2023
ADVERTISEMENT
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version