Nigeria’s 36 states and the Federal Capital Territory generated a sum of ₦1.33 trillion in 2019, a 14.1 percent increase compared to ₦1.17 trillion generated in 2018. This is according to the latest Internally Generated Revenue (IGR) report released by the National Bureau of Statistics. The report shows that 83.4 percent (₦1.11 trillion) of the generated revenue was in the form of taxes, while 16.6 (₦221.56 billion) was from MDAs’ revenue. Below is the Ventures Africa Weekly Economic Index, for the week ending 22nd of May 2020. More than 2.2 million barrels per day of U.S. oil production has been shut-in, according to reports.

Source: The North Africa Journal May 25, 2020 14:45 UTC