Abuja - Revenue accruable to the Federal Government from crude oil exports dropped by N117. 802 billion to N479.950 billion in December compared to N597.752 billion recorded in November.
The drop was caused by serious disruptions in crude oil production and lifting operations including vandalism of pipelines, maintenance and the Force Majeure declared at Bonny Terminal, reports Thisday.
A further look at the gross revenues in December showed that non-mineral revenue of N100.828 billion also fell short of the budgeted figure of N158.711 billion while revenue collection from VAT also dipped to N64.725 billion in the period under review compared to N91.730 billion in November.
Read more at ThisDay.