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LequteMan
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The federal government of Nigeria has withdrawn an additional 15.6 billion Naira from the Excess Crude Account to augment shortfall in oil revenue generated in November 2014, according to CHANNELS:
Figures released by the Federation Accounts Allocation Committee (FAAC) showed a drop in crude oil revenue from 87 million dollars in October to 77 million dollars November.
The shortfall was triggered by the drop in crude oil price, resulting in the withdrawal from the Excess Crude Account.
Briefing reporters on Friday on the outcome of the FAAC meeting in Abuja, the Minister of State for Finance, Mr Bashir Yuguda, said that 580 billion Naira was shared between the Federal, State and Local Governments for the month of December 2014.
Mr Yuguda said that the shared amount comprised statutory revenue of 474 billion Naira, and 6.3 billion Naira refunded by the Nigerian National Petroleum Corporation (NNPC).
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#Nigeria #NNPC
Figures released by the Federation Accounts Allocation Committee (FAAC) showed a drop in crude oil revenue from 87 million dollars in October to 77 million dollars November.
The shortfall was triggered by the drop in crude oil price, resulting in the withdrawal from the Excess Crude Account.
Briefing reporters on Friday on the outcome of the FAAC meeting in Abuja, the Minister of State for Finance, Mr Bashir Yuguda, said that 580 billion Naira was shared between the Federal, State and Local Governments for the month of December 2014.
Mr Yuguda said that the shared amount comprised statutory revenue of 474 billion Naira, and 6.3 billion Naira refunded by the Nigerian National Petroleum Corporation (NNPC).
click here to read more
#Nigeria #NNPC
