Isaac Samuel
The Presidency has dismissed 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 until after the 2027 general elections.
The Presidency described the claim as false, arguing that the amount cited by the governor was inconsistent with the historical dividend payments made by NLNG to the Federation.
Makinde had made the claim at the 2027 Budget Stakeholders’ Consultative Engagement held at the Olola Ogunlana Hall, International Conference Centre, University of Ibadan, on Friday.
The governor alleged that the Federal Government had delayed the release of the funds until after the elections, despite states having identified projects for which the money would be used.
“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?” he said.
Onanuga argued that the figures contradicted Makinde’s allegation that a single dividend payout of the magnitude claimed by the governor was being withheld by the Federal Government.
He said: “Makinde’s latest claim that the Federal Government is withholding the NLNG dividend windfall is false and should be disregarded.
+Here are the facts the public should know about how the Federation Account is managed and how money is shared among the three tiers of government. Even as a one-off distribution, N250 billion to each of the 36 states amounts to N9.0 trillion, excluding the Federal Government, the FCT, and the 774 local councils.
“Under the Federation Account Allocation Committee (FAAC) formula, states receive 26.72% of the distributable Federation Account revenue. For the states’ share alone to reach N9 trillion, total NLNG dividends paid into the Federation Account would have to exceed ₦33.68 trillion (about $25 billion) in a single declaration.
“NLNG has never paid $25 billion in dividends to the Federation Account in a single payout.
Providing historical context, the presidential spokesman said 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.
Onanuga argued that the figures contradicted Makinde’s allegation that a single dividend payout of the magnitude claimed by the governor was being withheld by the Federal Government.
He criticised Makinde’s public statements on federal revenue allocations to states, recalling that the governor had previously described the substantial financial flows from the Federation Account to states, including Oyo, as “voodoo”.
The presidential spokesman accused the governor of making misleading claims since embarking on his presidential ambition, urging him to present verifiable facts in his public engagements.
“Under Nigerian law, Governor Makinde is free to pursue his presidential ambition. He should desist from making falsehoods and disinformation the hallmarks of his campaign,” Onanuga said.
He urged Nigerians to disregard what he described as unfounded claims, arguing that they could mislead citizens and generate unnecessary resentment against the Federal Government.
