VIDEO: Tinubu-led FG spending LNG dividends alone, Makinde alleges

Oyo State Governor, Seyi Makinde, has accused President Bola Ahmed Tinubu’s administration of spending Nigeria LNG (NLNG) dividend payments without distributing the funds to state governments, alleging that each state was expected to receive more than ₦250 billion.

Makinde made the allegation on Friday during a stakeholders’ consultative engagement on the 2027 budget, held at Olola Ogunlana Hall, International Conference Centre, University of Ibadan, while questioning the federal government’s decision to delay the payments until after the election.

“They fooled us. The Nigeria LNG paid dividends to the federal government, which went straight into the Federation Account, but they spent it.

“So, what do we do? They did the consultancy, reconciled the figures, and each state of the federation was supposed to be paid, but they spent the money alone. The federal government spent it alone.”

The governor said the figures had been reconciled to determine the amount due to each state but alleged that the federal government spent the funds without transferring the states’ respective shares.

“Each state should receive more than ₦250 billion. Okay. We were planning towards this, identified projects that we can invest the money in to further expand the economy of Oyo State.”

Makinde said his administration had planned to invest Oyo State’s expected allocation in projects that would stimulate economic growth and development.

He expressed concern over the reported decision to postpone the disbursement until after the election, questioning whether political considerations should take precedence over the needs of Nigerians.

“Now, they say they are not going to pay that money until after the election. Is the election more important than the people of Nigeria?”

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The governor also suggested that concerns about how state governors might use the funds politically could be behind the delay. However, he argued that such concerns should not prevent states from receiving money due to them.

“Well, maybe they felt that when they pay the money to the states, the governors may have control over it and use it to work against you. Even at that, are you saying the election is more important than the people of Nigeria? Even if they use the money to work against you, is it your money?”