The gross revenue of the Federal Government rose for the second month in June, hitting N485.95bn ($2.44bn),
Reuters reported on Monday quoting the Ministry of
Finance.

The amount is 33 per cent higher than the amount the
government realised in May. It included a N6.33bn refund by the Nigerian National Petroleum Corporation, a value-added tax of N64.99bn, and an exchange rate gain of N6.69bn.

In May, the government received N324.06bn in revenues and distributed N409.35bn between the federal, state and local governments.


The balance of the Excess Crude Account stood at
$2.207bn, up from $2.078bn on June 23.
International oil prices rose at the end of April and
benchmark Brent futures were sustained in the $60s a
barrel range before falling again into the $50s a barrel
range at the start of July.
The government depends on oil sales for about 70 per
cent of its revenues.
The Permanent Secretary, Ministry of Finance, Anastasia Daniel-Nwoabia, said revenues were hit by a shutdown of pipelines feeding the Nembe and Forcados crude export terminals.
Shell had declared force majeure on exports of the
Forcados crude stream in early May due to leaks on the
main pipeline. The force majeure was lifted in mid-July.
“A price increase in crude of 9.8 per cent, recorded
between April and May, was not enough to cancel the
effect of a revenue drop due to a decline in the volume of crude oil sold, but the noticeable increase in revenue was as a result of blockage of some leakage in revenue
sources,” Daniel-Nwoabia said.


President Muhammadu Buhari has delayed appointing his cabinet members until September in order to flush out corrupt practices and plug “financial leakages” that went unchecked under the previous administration.
He has enlisted the help of the United States to go after
billions in stolen government funds, namely through oil
theft.


http://www.punchng.com/business/money/fgs-gross-revenue-hits-n485bn-in-june/

Slow but steady wins the race. Slowly slowly, small small, little by little, we are getting there. Business are picking up these days because power has greatly improved. I used to think it was because of the rainy season before but now I realize that the rains haven't even been much unlike previous years.

My prayer is for Buhari to remain resolute and focused and not get intimidated by the cries of wailers and their insults. Let him appoint his ministers when he deems fit and appoint who he likes even if people call him the worst names. What matters most to sensible people is performance of his team and not their regions/state of origin.

We will get there.

Sai Baba!
Sai Nigeria!

good

All cus of real accountancy....

That is accountability.

Sai Buhari

In short we don't need any ministers till further notice.

Chai Jonathan sef ...really meant to finish us off..but God is greater than PDP

Next month, it would hit N500bn