The Presidency has dismissed Oyo State Governor Seyi Makinde’s claim that the Federal Government is withholding ₦250 billion in Nigeria LNG (NLNG) dividends for each state until after the 2027 general elections....
The Presidency has dismissed Oyo State Governor Seyi Makinde’s claim that the Federal Government is withholding ₦250 billion in Nigeria LNG (NLNG) dividends for each state until after the 2027 general elections.
In a statement on Sunday, Special Adviser to the President on Information and Strategy, Bayo Onanuga, described the claim as false, arguing that the figures cited by the governor were inconsistent with the historical dividend payments made by NLNG to the Federation.
Makinde had raised the issue on Friday during the 2027 Budget Stakeholders’ Consultative Engagement at the Olola Ogunlana Hall, International Conference Centre, University of Ibadan.
The governor alleged that the funds, which he said states had expected to receive for development projects, would not be released until after the elections.
“Each state was supposed to get ₦250 billion. We had already identified projects that would expand Oyo State’s economy. But they have now said the money will not be paid until after the election. Is the election more important than the people of Nigeria?” Makinde said.
However, Onanuga argued that distributing ₦250 billion to each of Nigeria’s 36 states would amount to ₦9 trillion, excluding the Federal Government, the Federal Capital Territory and the 774 local government areas.
He explained that, under the Federation Account Allocation Committee (FAAC) revenue-sharing formula, states receive 26.72 per cent of distributable revenue.
According to him, for the states’ share alone to reach ₦9 trillion, total NLNG dividends paid into the Federation Account would have to exceed ₦33.68 trillion, or about $25 billion, in a single declaration.
“NLNG has never paid $25 billion in dividends to the Federation Account in a single payout,” the presidential aide said.
Onanuga added that NLNG had paid approximately $21.5 billion in dividends to the Federation over the past 25 years, with less than $3 billion realised since President Bola Tinubu assumed office.
He argued that the figures contradicted the governor’s claim that a single dividend payment large enough to fund the alleged allocation was being withheld.
The presidential aide also criticised Makinde’s public statements, accusing him of making misleading claims since embarking on his presidential ambition.
“We expect Governor Makinde to be more measured in his public conduct and utterances,” Onanuga said.
He further recalled the governor’s previous description of financial allocations from the Federation Account to states, including Oyo, as “voodoo”.
Onanuga maintained that Makinde was entitled to pursue his presidential ambition but urged him to avoid what he described as falsehoods and disinformation.
The Presidency called on Nigerians to disregard the governor’s claim, saying it could mislead citizens and create unnecessary tension between the public and the Federal Government.