3 results for “oil revenue”
Nigeria produced 402.86 million barrels of crude worth about N52.12 trillion between January and September 2026, a gross value lifted by conflict-driven Bonny Light prices rather than by hitting budget production targets.
At its annual meetings, the International Monetary Fund urged Nigeria to broaden its revenue base beyond oil and redirect subsidy savings to vulnerable households, warning that blanket energy subsidies are expensive, regressive and unsustainable.
The three tiers of government shared N2.428 trillion for September 2026, up N90 billion from August, as gross statutory revenue rose 8.6% on higher oil receipts while VAT collections fell 2.2%.