The sum of N3.5tn was realised by the Federal Government as revenue in the first six months of this year, the Minister of National Planning Commission, Dr. Shamsudeen Usman, has said.
The minister gave the figure in Abuja at a media briefing to mark President Goodluck Jonathan’s 100 days in office.
Present at the briefing were the Minister of Power, Prof. Barth Nnaji, his counterparts at the ministries of Information, Mr. Labaran Maku; and Works, Mr. Mike Onolememen, respectively.
Usman said the amount, which represented an increase of 9.44 per cent over what was earned in the corresponding period of 2010 was 22.89 per cent of the country’s nominal Gross Domestic Product.
The minister said that owing to the various reforms spearheaded by the Jonathan administration, the positive trend witnessed in revenue generated would be sustained.
He put the country’s external reserves as at the end of last month at $35bn, adding that the amount was an improvement of $3bn over the position in May.
He said, “On the fiscal side, the various reforms embarked upon have paid off, as total revenue receipts from both oil and non oil sources during the first half of 2011 surpassed the figures for the corresponding period of 2010, due to improvements in oil production.
“In this regard, revenue collected during the first half of 2011 increased by 9.44 per cent to N3.511bn or 22.89 per cent of nominal GDP as against N3.20bn in 2010. This trend is expected to be sustained in the future.”
In order to ensure the effective implementation of the development plan of the Federal Government as encapsulated by the Vision 2020 blueprint, the government approved the establishment of a specialised department to monitor and evaluate the performance of MDAs.
The minister gave the figure in Abuja at a media briefing to mark President Goodluck Jonathan’s 100 days in office.
Present at the briefing were the Minister of Power, Prof. Barth Nnaji, his counterparts at the ministries of Information, Mr. Labaran Maku; and Works, Mr. Mike Onolememen, respectively.
Usman said the amount, which represented an increase of 9.44 per cent over what was earned in the corresponding period of 2010 was 22.89 per cent of the country’s nominal Gross Domestic Product.
The minister said that owing to the various reforms spearheaded by the Jonathan administration, the positive trend witnessed in revenue generated would be sustained.
He put the country’s external reserves as at the end of last month at $35bn, adding that the amount was an improvement of $3bn over the position in May.
He said, “On the fiscal side, the various reforms embarked upon have paid off, as total revenue receipts from both oil and non oil sources during the first half of 2011 surpassed the figures for the corresponding period of 2010, due to improvements in oil production.
“In this regard, revenue collected during the first half of 2011 increased by 9.44 per cent to N3.511bn or 22.89 per cent of nominal GDP as against N3.20bn in 2010. This trend is expected to be sustained in the future.”
In order to ensure the effective implementation of the development plan of the Federal Government as encapsulated by the Vision 2020 blueprint, the government approved the establishment of a specialised department to monitor and evaluate the performance of MDAs.
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