High world oil prices pushed Nigeria’s gross revenues up 18 percent to 721.7 billion naira in February from 610.8 billion naira in January, the country’s acting accountant general said.
Nigeria distributed 413.3 billion naira from federal accounts to its three tiers of government last month, down 0.25 percent from January, acting accountant general Aderemi Ogunsanya said after a meeting of the committee responsible for the disbursals.
The monthly distributions have a major impact on liquidity in sub-Saharan Africa’s second-biggest economy and can trigger shifts in bond yields and interbank rates.
