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.
Nevertheless,
a total distributable revenue amounting to about N611.70 billion was yesterday
shared among the three tiers of government for August.
It
came as
