The Federal, states and local governments on Thursday shared N635.55bn as revenue generated in January, which showed a decline of N19.6bn when compared to what was generated in December .
The Accountant-General of the Federation, Mr. Ahmed Idris, while briefing newsmen in Abuja on the outcome of the monthly Federation Account Allocation Committee meeting, highlighted several factors that impacted negatively on the January income.
“Operational challenges caused a decrease in crude oil export by 0.36 million barrels, which reduced revenue from export sales for the federation by $113.86m.
“However, the average price of crude oil increased from $56.83 to $57.71 per barrel during the period.
“Other major issues that impacted negatively on operations were the shut-ins and shut-downs of production at various terminals for repairs and the Force Majeure declared at Bonny Terminals,”…
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