The federal government’s revenue dropped by N371 billion to N885.5 billion in August 2022, the lowest in three months.
In the last two months, the country’s revenue crossed N1 trillion, with N1.22 trillion in June and N1.26 trillion in July 2022.
The office of the accountant-general of the federation disclosed this in its monthly report for the federation accounts allocation committee (FAAC) on Friday.
According to the report, the figure represented a 29 percent dip in the monthly revenue compared to July 2022 and 24 percent compared to June 2022.
It said statutory revenues amounted to N654.36 billion, while value-added tax increased from N190.26 billion in July to N231.17 billion in August.
Statutory revenues include collections by Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria Customs, and others.
For the month, distribution among the three tiers of government slumped by N280.948 billion to N673.137 billion when put aside the N954.085 shared in July.
Of the amount, the federal government received N259.641 billion, states received N222.949 billion, and the local government councils received N164.247 billion.
Nigeria is struggling with revenue generation amid oil theft which has led to low oil production.
