MONTHLY OIL REVENUE DECLINES TO N601.64BN

Again, production challenges including a force majeure declared by Shell and series of shutdown of trunk lines and pipelines at various terminals impacted negatively on monthly receipts as gross revenue for August further dropped by about N28.67 billion to about N601.64 billion compared to about N630.3 billion in July.

The situation becomes worrisome in view of the huge monetary interventions and other initiatives by the federal government to check pipeline vandalism, illegal oil bunkering and other hiccups in order to improve revenue generation in the treasury.

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