Revenues accruing to the country fell by 2 percent from N410 billion in January to N401.5 billion in February on lower oil, gas and other revenues, Accountant General of the Federation, Jonah Otunla, told reporters on Thursday.
Otunla said Nigeria’s excess crude oil savings account remains unchanged at $2.06 bn.
Lower revenues because of the decline in oil prices and a fall in the price of natural gas, as well as lower non-oil revenues in February contributed to the decline, he said.
“The persistent shut down and shut in of trunks and pipelines at various terminals continued to impact negatively on the revenue performance,” he added.
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The federal government will distribute N522 bn to its three tiers of government — federal, state and local — for the month of February, including revenues, cash from vat and gains on the exchange rate, he added.
