Nigeria’s oil income dips 5 pct in March on outages

Economy, Nigeria, West Africa — By AfricaTimes on April 21, 2012 6:33 am

Nigeria earned 726.77 billion naira in oil revenues in March, down 5 percent from 766.77 billion naira in February due to production outages, the accountant general said on Friday.

“This was due to a decrease in crude oil export for the month as a result of several operational issues and safety challenges in Bonga, Brass, Bonny and Qua Iboe terminals,” a statement by Jonah Otunla said.

Nigeria distributed 613.70 billion naira to the three tiers of government in March, down from 620.7 billion naira the previous month, Otunla said.

Reuters.

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