Sentences with phrase «dwindling oil revenues»

She said mid last week that in the face of dwindling oil revenues the Federal Government has borrowed N473billion to pay salaries and fund the 2015 budget.

«Rising domestic socioeconomic stresses in Russia — caused by dwindling oil revenues and the impact of Western sanctions — will fuel President Putin's anti-western rhetoric and increase the likelihood of him seeking foreign «distractions»,» Alastair Newton, senior political analyst at Nomura, said in a note Wednesday.

Not exact matches

Oil - related revenue has dwindled since 2015 as a period of low prices reduced interest from producers and consumers in financial instruments that offer protection against price volatility, said Amrit Shahani, research director at Coalition.

Lagos State Governor, Mr. Akinwunmi Ambode has said, in view of the dwindling revenue from oil, Nigeria must embrace other sectors so as to garner resources to address the critical needs of the people.

With a projected revenue of N3.86 trillion in the face of dwindling crude oil receipts, government estimates that oil revenues contribute N820 billion of the total revenue; non-oil revenues, comprising Company Income Tax, CIT, Value Added Tax, VAT, Customs and Excise duties, and Federation Account levies, are expected to contribute N1.45 trillion; while independent revenues are expected to contribute N1.51 trillion through the enforcement of the Fiscal Responsibility Act, 2007 and public expenditure reforms in all MDAs.

ABUJA — Nigeria's woes in the area of dwindling revenue from crude oil sales is expected to heighten in the next couple of days, as the South African Petroleum Industry Association, SAPIA, yesterday, stated that South Africa would likely stop importing crude oil from Nigeria following the lifting of the sanctions on Iran.

Africa's biggest economy and top oil producer is reeling from the fall in crude revenues, the source of 95 percent of foreign earnings, which has led to the naira hitting record lows on the parallel market amid dwindling foreign exchange reserves.

According to him, if revenue accrued from gold, cocoa, oil and other exports were managed properly, Ghana will not be saddled with huge debts although government has maintained that huge drop in prices of exports products last year has dwindled its revenue.