Gross Federally Collected Revenue
Gross Federally Collected Revenue (Billion )
Falling government revenue
Total Oil Revenue and its Components (Billion )
Declining oil revenue
Gross Federally Collected Revenue: Both oil and non-oil components of gross federal revenue fell below N40 billion in 2016, after recording a peak of N90 billion in 2013. The decline was most prominent in oil revenue sources due to low oil price and production shortages. On the other hand, non-oil revenue has attained an increasing one-year peak in second half of every year since 2011; reaching nearly to N400 billion by 2014. However, non-oil revenue declined to a trough of less than N200 billion in the latter end of 2015H1 and 2016Q1 due to present challenges in the business environment.
Appropriation Act (Budget): Capital expenditure remarkably increased in 2016 relative to preceding year, on the account of the present governments renewed commitment to infrastructure development.
Gross Domestic Product Growth Rate: The growth performance of the Oil and Gas sector has been unsteady throughout years and declined most significantly in 2015Q4, following a positive growth recorded
Purchasing Managers Index: The level of business activities declined sharply in the first half of 2016 on the account of weak economic performance. Particularly, the issues surrounding exchange rates
On average, Nigerias GDP growth rate has averaged about 5 percent; attaining an unusual trough of nearly -10 percent in 2003Q4 and a peak of nearly 20 percent in 2004Q4. However, the Nigerian economy