DPR Surpasses Revenue Target by Over ₦86b

The Department of Petroleum Resources has said it has surpassed its revenue target for the first half of 2013 by over ₦86billion by generating over ₦470billion within the period.

Muraina Ajibola, chairman of the Committee who joined the DPR Director, Mr.George Osahon, said the Federal Government-approved revenue target for the department for the period under review was ₦383.75billionn, he commended the department for surpassing the target by generating over ₦470billion for the government in the first half of the year, during an oversight visit by the House of Representatives Committee on Petroleum (Upstream) to the DPR headquarters in Lagos yesterday.

Mr. Ajibola said, “I am happy to tell Nigerians that after proper scrutiny of its papers, the DPR has generated over ₦470billion in revenue in the first half of 2013. Of course, this clearly shows that the agency exceeded its target by a total sum of ₦86billion, except for the capital implementation of the 2013 budget, where the performance appears a bit low, the agency is generally doing well in revenue generation.”