FG records N28.8b revenue decline in August

 


Minister of State for Finance, Bashir Yuguda, disclosed on Tuesday that the country recorded a N28.67 billion decline in gross federally collected revenue from N630.32 billion received in July to N601.65 in August. He disclosed this while briefing journalists shortly after this month’s Federation Accounts Allocation Committee (FAAC) meeting at the headquarters of the Ministry of Finance. Yuguda attributed the decline in revenue to ‘force majeure’ declared by Shell Petroleum Development Company and a series of shutdown of trunk lines and pipelines