Nigeria’s revenue collection falls

LAGOS – Nigerian government revenues fell to  601.6 billion naira ($3.7 billion) in August, down 4,6 percent from 630.3 billion naira in July due to oil outages, Accountant General Jonah Otunla said yesterday.“Decline in revenue … was attributed to the  force majeure declared by Shell and a series of shutdown of trunklines and pipelines at various terminals,” Otunla said. Revenue to be distributed to the three tiers of government – federal, state and local – was 611.71 billion naira in August, down from 654.6 billion naira in July, he said. – Reuters.