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11 September 2018

Nigeria recorded highest revenue from oils in second quarter since 2014- NEITI

Nigerian Extractive Industry Transparency Initiative says increase in crude oil price, as well as domestic oil production, raised the nation’s revenues from oil, which made the three tiers of government to share two trillion naira in the second quarter of this year.

Its Director, Communications and Advocacy, Ogbonnaya Orji, stated that in the organisation’s quarterly review, the federal, state and local governments shared three point nine five trillion naira from the Federation Account in the first six months of the year.

According to Orji, the review further showed that the total Federation Accounts Allocation Committee disbursements in the second quarter of the year were forty six per cent higher than the figure for the same period in twenty seventeen.

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