The Presidency has rejected Oyo State Governor Seyi Makinde’s claim that the Federal Government is withholding ₦250 billion in Nigeria Liquefied Natural Gas (NLNG) dividends for each state, describing the allegation as false.
In a statement issued on Sunday, President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, urged Nigerians to disregard the governor’s claim, arguing that the figures do not align with NLNG’s historical dividend payments.
Makinde had raised the issue during a stakeholders’ engagement on Oyo State’s 2027 budget, where he alleged that each state was expected to receive ₦250 billion from NLNG dividend proceeds.
The governor further claimed that the funds would not be released until after the 2027 general elections, saying his administration had already identified projects that could benefit Oyo State’s economy.
Presidency Questions the Figures
According to Onanuga, distributing ₦250 billion to each of Nigeria’s 36 states would amount to ₦9 trillion, excluding allocations to the Federal Government, the Federal Capital Territory and local governments.
The Presidency argued that, under the Federation Account Allocation Committee (FAAC) revenue-sharing formula, states receive 26.72 per cent of distributable Federation Account revenue.
It said the states’ combined share would require total NLNG dividends exceeding ₦33.68 trillion for the proposed ₦9 trillion distribution, adding that NLNG had never made a single dividend payment of $25 billion to the Federation Account.
Onanuga also stated that NLNG had paid approximately $21.5 billion in dividends to the Federation over about 25 years, with less than $3 billion realised since Tinubu assumed office.
He maintained that the scale of the payment alleged by Makinde was inconsistent with the historical figures cited by the Presidency.
Political Dispute Over Public Funds
The Presidency also criticised Makinde’s public statements, accusing him of making misleading claims amid his reported presidential ambitions. It urged the governor to support his assertions with verifiable information.
Makinde, however, had framed the alleged delay as a concern for state development, arguing that the money would support projects intended to expand Oyo State’s economy.
The disagreement raises questions about the total NLNG dividends being discussed, the period covered by any reconciliation, the account into which the proceeds were paid and whether a specific distribution to states has been approved.
The Presidency’s statement presents the government’s position on the matter. A full reconciliation of the relevant dividend records and official allocation documents would help establish the amount involved and whether any funds are due to state governments.
For now, the two sides have presented conflicting accounts of the alleged ₦250 billion-per-state payment.
