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Wednesday, July 29, 2015

Buharism : Nigeria’s revenue rises for second consecutive month

buhari
Nigeria’s gross government revenues rose for the second consecutive month in June to 485.95 billion naira ($2.44 billion), up 33 per cent from May, the finance ministry said.

The total for distribution to the three tiers of government was 518.542 billion naira including a 6.33 billion refund by the state oil company, value added tax of 64.99 billion naira and an exchange rate gain of 6.69 billion naira.

The balance of the Excess Crude Account stood at $2.207 billion, up from $2.078 billion on June 23.
Some business analysts have attributed the revenue increase to President Muhammadu Buhari’s anti-corruption drive which is geared at blocking leakages particularly in the oil sector.

Buhari is optimistic that the most populous black nation can recover some of its stolen funds that have put in foreign accounts across the globe.

In a recent state visit to the United States, he got assurances from the US government led by President Barack Obama that Nigeria will recover monies stolen by politicians and public office holders.

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