Following the claim that the Federal Government is withholding the NLNG dividends of ₦250 billion for each state, the Presidency has faulted Oyo State Governor Seyi Makinde.
The Presidency described the allegation as false and urging Makinde to be more measured in his public statements.
The Presidency’s reaction followed Makinde’s remarks at the 2027 Budget Stakeholders’ Consultative Engagement held at Olola Ogunlana Hall, International Conference Centre, University of Ibadan, on Friday.
During the engagement, the governor alleged that the Federal Government had delayed the release of the funds until after the 2027 general election, adding that the money had already been spent.
“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 was quoted as saying.
However, in a statement issued by Bayo Onanuga, Special Adviser to President Bola Ahmed Tinubu on Information and Strategy, the Presidency rejected the governor’s claim, describing it as false and urging the public to disregard it.
Presidency Explains NLNG Dividends Distribution
The Presidency said the figures cited by Governor Seyi Makinde did not align with the revenue-sharing arrangements governing the Federation Account.
According to the statement, distributing ₦250 billion to each of Nigeria’s 36 states would amount to ₦9 trillion in total, excluding the Federal Government, the Federal Capital Territory (FCT) and the 774 local government councils.
It explained that, under the Federation Account Allocation Committee (FAAC) revenue-sharing formula cited in the statement, states receive 26.72 per cent of distributable Federation Account revenue.
On that basis, the Presidency argued that for the states’ collective share alone to reach ₦9 trillion, total NLNG dividends paid into the Federation Account would have to exceed ₦33.68 trillion, equivalent to approximately $25 billion, in a single declaration.
The statement maintained that NLNG had never paid $25 billion in dividends to the Federation Account in a single payout.
The Presidency further stated 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 Tinubu assumed office.
It argued that the claim of a single dividend payout exceeding the company’s entire historical distribution to the Federation was inconsistent with the figures presented.
The statement therefore rejected the suggestion that such a sum had been declared and was being withheld by the Federal Government.
Presidency Tells Makinde to Be More Measured
Beyond disputing the figures, the Presidency urged Makinde to exercise restraint in his public conduct and statements, accusing him of making misleading claims since embarking on his presidential ambition.
“We expect Governor Seyi Makinde to be more measured in his public conduct and utterances,” the statement said.
It also recalled the governor’s previous description of the substantial financial allocations flowing from the Federation Account to states, including Oyo, as “voodoo.”
The Presidency maintained that Makinde was constitutionally free to pursue his presidential ambition but urged him to avoid what it described as falsehoods and disinformation in his political campaign.
The statement concluded by urging Nigerians to disregard what it described as unfounded claims, arguing that such allegations could mislead citizens and create unnecessary tension between the public and the Federal Government.
The dispute over the alleged ₦250 billion NLNG dividend allocation comes amid preparations for the 2027 general election, with questions about federal revenue, allocations to states and public spending likely to remain part of political debate.
The Presidency’s response represents the Federal Government’s position on Makinde’s allegation. The underlying claim and the applicable dividend and revenue-allocation records should be independently verified against official documentation
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