logoBC
Yaoundé - 22 February 2020 -
Public management

Cameroon: Oil revenues 25.6% up despite 11.9% drop in oil prices in Jan-Sep 2019

Cameroon: Oil revenues 25.6% up despite 11.9% drop in oil prices in Jan-Sep 2019
  • Comments   -   Monday, 13 January 2020 13:24

(Business in Cameroon) - During the first nine months of 2019, Cameroon's oil revenue reached XAF431.7 billion, up by XAF88.1 billion (+25.6%) year-on-year.

According to the Ministry of Finance, which revealed this information in its report on the state budget at the end of September 2019, this increase is due to “the increase in oil production, which compensates for the 11.9% year-on-year drop in world oil prices.

Of this revenue package, it is reported, XAF352.6 billion represents funds transferred to the Public Treasury by the National Hydrocarbons Company (SNH), while XAF79.1 billion was collected as taxes on oil companies.

It can also be observed that oil revenue was one of the few items where the public administration met and even exceeded its collection targets set at the beginning of the fiscal year.

Compared to the forecast at the end of September of XAF379.5 billion, they (oil revenues) recorded an achievement rate of 113.7%,” the report indicates.  

Brice R. Mbodiam

cameroon-pcp-afop-to-train-3-500-people-in-agropastoral-and-fishing-sectors-in-2020-2021
The agropastoral and fishing training programme PCP-Afop, steered by the Ministries of Agriculture and Livestock, has just launched the recruitment of the...
denmark-discusses-cooperation-areas-in-the-maritime-sector-with-cameroon
On February 19, 2020, in Yaoundé, the Minister of Transport, Ernest Massena Ngalle Bibehe, received in audience Danish ambassador to Cameroon Jesper...
french-start-up-heetch-effectively-launches-vip-motorcycle-taxi-service-with-a-network-of-250-drivers
Equipped with pink vests and helmets, 250 motorcycle taxis now roam the streets of Douala, on behalf of French start-up Heetch, the government daily...
british-firm-the-first-group-eyes-both-investors-and-investment-opportunities-in-the-cameroonian-real-estate-sector
On February 19, 2020, in Yaoundé, British firm The First Group’s executives presented investment opportunities in the real estate sector in Dubai to...

Mags frontpage


Business in Cameroon n84: February 2020

Money transfer business Cameroon is on the front line


Interview: «Shifting from bureaucratic management to efficient public management»


Investir au Cameroun n94: Février 2020

Sociétés de transfert d’argent Le Cameroun au cœur de la bataille


Entretien : « Passer d’une administration bureaucratique à une gestion publique performante »