Nigeria recorded a 4.6 per cent fall in revenue to N601.6 billion ($3.7 billion) in August, a situation the Accountant General of Nigeria, Jonah Otunla, attributed to oil outages on Wednesday.
Africa’s largest economy recorded N630.3 billion as revenue in July.
“Decline in revenue … was attributed to the force majeure declared by Shell and a series of shutdown of trunklines and pipelines at various terminals,” Otunla said.
Revenue to be distributed to the three tiers of government – federal, state and local – was N611.71 billion in August, down from N654.6 billion in July.
