FG Generates N9.230tr in 10 Months

The cumulative federally-collected revenue between January and October 2011 stood at N9.230 trillion, the Central Bank of Nigeria (CBN) has said. The apex bank, which disclosed this in its Economic Report for October 2011, said the above mentioned value, reflected increase of 20.2 and 55.7 per cent over the budget estimate and actual receipts in the corresponding period of 2010, respectively.

On the other hand, the gross federally-collected revenue for the month of October 2011 alone, stood at N1.143 trillion. The amount, according to the regulator, represented an increase of 48.8 per cent over the monthly budget estimate, but lower than the receipts in the preceding month by 0.5 per cent. It also showed that at N904.18 billion, gross oil receipts, which constituted 79.1 per cent of the total revenue, fell below the level in the preceding month by 2.8 per cent.



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