The amount, when compared to the N420bn distributed in October, represents a decline of N33.1bn.
Addressing journalists shortly after the meeting, the Minister of Finance, Mrs. Kemi Adeosun, represented by the Accountant General of the Federation, Idris Ahmed,attributed the decline to a drop in crude oil export by 0.34 million barrels per day during the period under review.
The breakdown as follows:
- The Federal Government received N97.9bn, representing 52.68 per cent of the total available for sharing;
- The states got N49.6bn, representing 26.72 per cent; while
- Local governments received N38.2bn or 20.60 per cent of the amount distributed.