Aug 15 (Abuja) - Federal Government of Nigeria's gross government revenues rose by 8 percent to 825.39 billion naira ($5.25 billion) in July, from N 763.55 billion in May due to higher crude oil exports, the finance ministry said on Wednesday.
Federal Government of Nigeria distributed N 564.08 billion to the three tiers of government for July while 213.10 billion naira was added to the the excess crude account (ECA), Minister of State for Finance Yerima Ngamma told reporters.
Ngamma said government has removed $1 billion from the ECA, where it saves money it earns from crude sales over a benchmark price, currently $72 a barrel.
reporting for easykobo.com on Thursday, Aug 16 2012 from Lagos, Nigeria
Source - reuters news agency
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