Oyo State Governor, Seyi Makinde, has asserted that the Federal Government has withheld more than ₦250 billion payable to each state from Nigeria LNG Limited dividends, questioning an alleged plan to delay disbursement until after the 2027 general elections.
Speaking on Friday at a stakeholders’ consultative engagement on the state’s 2027 budget in Ibadan, Makinde said electoral considerations should not take precedence over citizens’ welfare and development.
The event was held at Olola Ogunlana Hall, International Conference Centre, University of Ibadan.
The governor said states were already identifying projects on which to spend the anticipated revenue to expand their economies and improve living conditions.
He noted: “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?”
The governor noted that the Federal Government might be nursing fears about how some governors might use the funds ahead of the polls, which might have necessitated the decision to withhold the funds.
“But even more than that, does it mean the election is more important than your development in Nigeria? “Is it your money? And why should we be forced to wait,” he wondered, even as he insisted that public money should be deployed for public benefit.
He said the expected payment could finance projects that would stimulate economic activity and create additional value across the states.
Makinde made the remarks while discussing funding for Oyo State’s 2027 budget, infrastructure development and the need for prudent financial management. The governor also advocated institutionalising stakeholders’ consultations to ensure that residents continued to contribute to budget preparation beyond his administration.
He said he had discussed the proposal with the Speaker of the Oyo State House of Assembly, Adebo Ogundoyin.
“I just finished talking to the Honourable Speaker, and I said, please, let’s find a way to institutionalise this process because it has helped us,” he said.
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