Accountant General of the Federation, Jonah Otunla, says the country’s gross government revenue fell 15 percent to 416 billion naira ($2.07 billion) in January due to weaker oil prices.
The Accountant General who spoke with newsmen today, said there was substantial loss of revenue due to a further drop in the prices of crude oil, a 33 percent decrease in export volumes between November and December 2014 however translated to a loss of $159.88 million.
It would be recalled that the Federation Account Allocation Committee, yesterday shared the sum of N500.13 billion as revenue for the month of January, which is lower that N580.38 billion shared the previous month.
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