Tags : Revenue

Lagos-Ibadan Railway To Generate N1.1bn Annually

An analysis by the Nigeria Railway Cooperation has said that the Federal Government will be raking in about N1.1bn yearly from the operations of the newly launched Lagos-Ibadan standard gauge railways. The Nigerian Railway Corporation currently operates two trains on the route, and each of them makes one return trip; a sum of four trips […]Read More

FG Revenue Agencies Remit N1.54tr In Q1

The Revenue Mobilisation Allocation and Fiscal Commission has disclosed that a total of N1.54 trillion revenue was remitted by the revenue-generating agencies of the federal government of Nigeria. In a statement by the RMAFC, the revenue was remitted into the federation account in the first quarter of 2021. The Chairman of the Commission, Engr. Elias […]Read More

NNPC: Oil Export Revenue Plunged By 98% In April

The Nigerian National Petroleum Corporation has said crude oil export proceeds dropped by 98 percent in April, compared to March 2021. It said that the total revenue from crude oil exports in April fell to N723m from the N35.72bn generated in March. “No remittance to Federation Account in April for May 2021 FAAC due to […]Read More

CBN: Nigeria Fiscal Deficit N485.51bn In January 2021

The Federal Government of Nigeria has recorded a N485.51bn fiscal deficit in January 2021 according to statistics obtained from the Central Bank of Nigeria. According to the monthly economic report for January released by the apex bank, the low revenue performance in January was due to the decline in non-oil receipts. This is following the […]Read More

Customs Revenue Hits N466.1billion In 3 Months

The Nigeria Customs Service has generated N466.1 billion revenue between January and March, the first quarter of 2021. The statistics obtained from the office of the Public Relations Officer of the service, Mr Joseph Attah, yesterday, showed that the revenue was generated within three months. The data indicated that the NCS realized the highest revenue […]Read More

Oil, Gas Export Revenue fell Drop in 2020

The total revenue generated by the Nigerian National Petroleum Corporation from crude oil and gas exports plunged by 45.98 percent in 2020. Nigeria’s revenue from the exports of crude oil and gas fell to $2.62bn in 2020 from $4.85bn in 2019. Total revenue from oil and gas exports stood at $282.32m in February; $362.18m in […]Read More

Fuel Marketing Companies Revenue Drop

At least five of the major oil marketing companies in the country saw their total revenue drop by N331.54billion in 2020 amid the impact of the COVID-19 pandemic. The companies saw their combined revenue for the financial year 2020 fell to N768.46billion from N1.10trillion in the previous year. The financial statements of six major oil […]Read More

Four States Debt Surpass Net Revenue

The Fiscal Responsibility Commission has said that the debts of four states exceeded their net revenues by more than 400 per cent. The states include Lagos, Osun, Cross River and Ogun. FRC in its report ‘Debt sustainability analysis of state governments’ for 2019 also showed that the debts of all the 36 states and the […]Read More

Customs Generate N46.85bn In First Quarter

The Ports and Terminal Multiservices Limited Command of Nigeria Customs Service announced that it generated  N46.85bn as total revenue collection for the first quarter of 2021. A month by month breakdown of the first-quarter collections with 2020 comparison shows that N15.21bn was collected in January 2021. This is 7.6 percent less than the N16.46bn collected […]Read More