Nigeria Generates N701.85bn Gross Revenue in July 2017


The fiscal statistics on government revenue and expenditure for July 2017 reflected that total gross oil revenue was put at N362.43bn as against N254.02bn in June 2017. Crude oil sales accounted for the larger chunk of the oil revenue as N188.15bn was generated from crude oil sales while gas sales generated N29.69bn. the least oil revenue came from rent and gas flared penalty with N0.044bn and N0.184bn generated respectively.

Non-oil revenue came from Excise & Fees, import duty & other Customs  and Companies Income Tax & Other Taxes with N54.00bn and N284.85bn generated respectively as gross non-oil revenue amounted to N338.85bn.

The gross revenue generated was put at N701.85bn while Net Federation Account Revenue after All Deductions Distributable was put at N521.82bn for July 2017.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of and also sits on the board of Students In Business Awards, (SIBA).


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