The report stated that at N2,412.21 billion, federally-collected revenue in the fourth quarter of 2018 was lower than the proportionate quarterly budget estimate of N3,321.36 billion by 27.4 percent. It also fell below the receipts in the preceding quarter by 4.8 percent.

An analysis also uncovered that the moderate price of Nigeria’s crude oil, Bonny Light rose by 26 percent to $70.66 per barrel in 2018 from $52.51 per barrel in 2017.

Oil revenue has been and still is the mainstay of the national economy and is likely to remain so for a long time to come, as it currently provides the bulk of government revenue and most of the foreign exchange earnings.

Read more at...https://www.commodity-port.com/nigerias-oil-revenue-hits-n9-4-trillion-in-2018/