Nigeria’s revenue fell last month to the lowest level in more than five years as taxes and oil earnings dropped, making it more difficult for the government of Africa’s largest economy to pay public workers.
The country’s federal, state and local governments were altogether allocated 300 billion naira ($1.5 billion) in March, the Ministry of Finance said in a statement e-mailed late Thursday from the capital, Abuja. To assist the lower-tier governments, the ministry also waived 10.9 billion naira of loan repayments.
About 27 of 36 states are “currently experiencing challenges meeting their salary payments,” the ministry said. “We are not able to guarantee that all states will be able to meet their salary obligations.”
The country’s federal, state and local governments were altogether allocated 300 billion naira ($1.5 billion) in March, the Ministry of Finance said in a statement e-mailed late Thursday from the capital, Abuja. To assist the lower-tier governments, the ministry also waived 10.9 billion naira of loan repayments.
About 27 of 36 states are “currently experiencing challenges meeting their salary payments,” the ministry said. “We are not able to guarantee that all states will be able to meet their salary obligations.”