Nigeria ’s revenue rises for second consecutive month

Nigeria ’s gross government revenues rose for the second consecutive month in June
to 485. 95 billion naira ( $2. 44 billion) , up 33 per cent from May, the finance ministry
said.

The total for distribution to the three tiers of government was 518 . 542 billion naira
including a 6. 33 billion refund by the state oil company , value added tax of 64 . 99
billion naira and an exchange rate gain of 6 . 69 billion naira.
The balance of the Excess Crude Account stood at $2. 207 billion, up from $2 . 078
billion on June 23 .
Some business analysts have attributed the revenue increase to President Muhammadu
Buhari’ s anti - corruption drive which is geared at blocking leakages particularly in the oil
sector .
Buhari is optimistic that the most populous black nation can recover some of its stolen
funds that have put in foreign accounts across the globe .
In a recent state visit to the United States , he got assurances from the US government
led by President Barack Obama that Nigeria will recover monies stolen by politicians
and public office holders.


































Source : PM News