Nigeria's Fiscal Revenue Declines to Rely on Oil

According to Nigerian media reports, Nigeria’s Finance Minister Ngozi Okonjo-Iweala recently stated that the proportion of oil revenue in Nigeria’s government revenue has fallen from 80% in recent years to 70% now, while other taxes and The proportion of non-oil product export revenues has continued to increase. The government will continue to take measures to reduce excessive dependence on oil revenues. The medium-term goal is to diversify the sources of government revenue, and gradually reduce the proportion of oil revenue in government revenue to 60%-40%.