MONTHLY OIL REVENUE DECLINES TO N630.3BN IN JULY

Excess crude account drops to $4.1bn as FG, states, LGs share N654.5bn FAAC ponders directive on first line charge for judiciary
James Emejo 

Production hiccups including a force majeure declared by Shell, shut-down of trunk lines and pipelines at Akpo and Bonny terminals caused a significant decline in monthly receipts as gross revenue for July dropped by about N154.5 billion to about N630.3 billion compared to about N784.8 billion in June.

Also, a substantial decline in Company Income Tax (CIT) has further dampened the prospects for higher collections for the month.

Read more @ Thisday