Nigeria’s Minister of Finance, Kemi Adeosun yesterday announced that revenues generated by the three tiers of government increased in October by 21.5% from September.
According to the Minister, N473.83 billion was generated, boosted by an increase in non-oil earnings. “Non-oil revenue recorded a significant improvement in the month”, Adeosun said.
She also stated that the Excess Crude Account remained unchanged at $2.26 billion. However, the “shut down and shut-in” for repairs and maintenance at different terminals impacted negatively on oil and gas revenue.
