Tag: oil revenue

NEITI: Companies Owed FG N1.32trn In 2020, Oil Revenue Dipped By 40%

Nigeria Extractives Industries Transparency Initiative (NEITI)

$394bn remitted to government in 10 years, 4% of Nigeria’s gas production unaccounted for The Nigeria Extractives Industries Transparency Initiative (NEITI) yesterday revealed that oil companies’ liabilities to the federation Read More

In Durban, Buhari Says Nigeria’s Economy Now Restructured From Oil Dependence To Multiple Revenue Sources

President Muhammadu Buhari

States Africa’s challenges traceable to inability to domesticate production, provide jobs President Muhammadu Buhari has said his administration has transformed the nation’s economy from being solely dependent on oil revenue Read More

Report: FG’s Revenue Falls By 12.8% To N807bn In January

Central Bank of Nigeria (CBN)

Expenditure rises by 7% to N771bn The total amount of revenue generated by the Federal Government in January 2021 was N807.54 billion. This was 12.8 per cent lower than the Read More

Printing Currency Could Hurt Economy, Analysts Warn FG

Federation Accounts Allocation Committee (FAAC)

Foresee worsening inflationary pressure Analysts have expressed concerns over a recent claim that the Federal Government resorted to printing money to augment the monthly allocation to the three tiers of Read More

Nigeria, Other African Oil Exporters Will Lose $34bn – IMF

IMF boss, Kristalina Georgieva

The impact of the COVID-19 pandemic is estimated to cost Nigeria and other oil exporters in Africa a total of about $34bn in revenue. According to the International Monetary Fund,Read More