Distributable government revenues in March soared by about 9% to N467.81 billion ($1.53 billion), against N429 billion the month before. According to the government statement which disclosed this, the rise was due to collection of higher royalties from oil production.

The statement which was released on Tuesday shows that the federal government obtained in the distributable revenues N189.234 billion, while states and local governments got N127 billion and N96 billion respectively. Despite the increase, it should be noted that the performance could have been better if not for low levels of crude oil production (in spite of prices rising from $44.74 to $52.86 in March). Also, oil export revenues slumped by $6.4 million due to a “decrease in crude oil export volume” resulting from attacks on major pipelines in the country’s oil hub.

Nigeria derives most its revenues from oil, its main export. However, over the past year, repeated attacks on oil infrastructures by militants in the Delta region has curbed production and significantly impacted the nation’s oil earnings. A situation which should improve as the attacks have stopped after negotiations between the government and the militants.